UBS Group AG Has $3.82 Million Stock Holdings in Palomar Holdings, Inc. $PLMR

Key Points

• UBS Group AG sharply reduced its Palomar Holdings stake by 71.1% in the fourth quarter, selling 69,952 shares and leaving it with 28,373 shares worth about $3.82 million.
• Palomar reported better-than-expected earnings for the quarter, posting $2.31 EPS versus the $2.17 consensus, while revenue rose 59.7% year over year to $278.94 million.
• Insider selling and analyst views were mixed: the CEO and president both sold shares under pre-arranged trading plans, while Wall Street’s overall rating remains “Moderate Buy” with an average price target of $150.25.

UBS Group AG cut its position in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 71.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,373 shares of the company's stock after selling 69,952 shares during the period. UBS Group AG owned 0.11% of Palomar worth $3,824,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. acquired a new position in Palomar during the 4th quarter valued at about $32,000. Clearstead Advisors LLC boosted its stake in Palomar by 31.0% during the 3rd quarter. Clearstead Advisors LLC now owns 397 shares of the company's stock valued at $46,000 after purchasing an additional 94 shares during the last quarter. NewEdge Advisors LLC acquired a new position in Palomar during the 1st quarter valued at about $66,000. IFP Advisors Inc boosted its stake in Palomar by 43.9% during the 3rd quarter. IFP Advisors Inc now owns 482 shares of the company's stock valued at $56,000 after purchasing an additional 147 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Palomar by 127.9% during the 4th quarter. Farther Finance Advisors LLC now owns 490 shares of the company's stock valued at $66,000 after purchasing an additional 275 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Palomar Trading Down 1.0%

NASDAQ:PLMR opened at $113.87 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $3.02 billion, a PE ratio of 15.86 and a beta of 0.49. The firm's 50 day moving average is $120.66 and its 200 day moving average is $124.48. Palomar Holdings, Inc. has a 12 month low of $107.51 and a 12 month high of $175.85.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.17 by $0.14. The company had revenue of $278.94 million for the quarter, compared to analysts' expectations of $557.79 million. Palomar had a net margin of 20.11% and a return on equity of 22.62%. Palomar's revenue was up 59.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.87 EPS. Sell-side analysts expect that Palomar Holdings, Inc. will post 9.02 earnings per share for the current year.

Insider Buying and Selling

In related news, President Jon Christianson sold 1,937 shares of Palomar stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $128.62, for a total value of $249,136.94. Following the sale, the president owned 65,919 shares of the company's stock, valued at approximately $8,478,501.78. The trade was a 2.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mac Armstrong sold 3,500 shares of Palomar stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $114.39, for a total transaction of $400,365.00. Following the completion of the sale, the chief executive officer directly owned 332,888 shares in the company, valued at $38,079,058.32. This trade represents a 1.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,634 shares of company stock worth $2,318,111 in the last ninety days. 3.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PLMR has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Palomar from $155.00 to $160.00 and gave the company an "overweight" rating in a research note on Monday, February 23rd. Keefe, Bruyette & Woods cut their price target on Palomar from $186.00 to $159.00 and set an "outperform" rating for the company in a research note on Wednesday, May 13th. Weiss Ratings downgraded Palomar from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, May 7th. Evercore initiated coverage on shares of Palomar in a research report on Monday, February 9th. They set an "outperform" rating and a $150.00 target price on the stock. Finally, Wall Street Zen cut shares of Palomar from a "buy" rating to a "hold" rating in a research report on Sunday, March 1st. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $150.25.

About Palomar

Palomar Holdings, Inc NASDAQ: PLMR is a specialty insurance holding company focused on providing medical stop-loss coverage and related administrative services to self-funded employer health plans in the United States. The firm operates through two primary business segments—Medical Stop-Loss and Specialty Program Management—to deliver tailored risk protection and comprehensive program administration.

In its Medical Stop-Loss segment, Palomar underwrites excess and aggregate stop-loss policies designed to shield self-insured employers from catastrophic medical claims that exceed pre-determined retention levels.

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