Intech Investment Management LLC Sells 13,364 Shares of Palomar Holdings, Inc. $PLMR

Intech Investment Management LLC trimmed its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 36.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,641 shares of the company’s stock after selling 13,364 shares during the period. Intech Investment Management LLC’s holdings in Palomar were worth $3,186,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in Palomar by 14.0% during the third quarter. Principal Financial Group Inc. now owns 182,255 shares of the company’s stock valued at $21,278,000 after purchasing an additional 22,346 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Palomar by 652.7% during the fourth quarter. HighTower Advisors LLC now owns 17,613 shares of the company’s stock valued at $2,374,000 after purchasing an additional 15,273 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Palomar by 12.4% during the third quarter. JPMorgan Chase & Co. now owns 88,841 shares of the company’s stock valued at $10,372,000 after purchasing an additional 9,831 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in Palomar by 14.6% during the third quarter. Public Sector Pension Investment Board now owns 104,449 shares of the company’s stock valued at $12,194,000 after purchasing an additional 13,270 shares in the last quarter. Finally, Moran Wealth Management LLC acquired a new stake in Palomar during the fourth quarter valued at approximately $2,473,000. 90.25% of the stock is owned by institutional investors and hedge funds.

Palomar Stock Performance

PLMR stock opened at $107.24 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.49 and a quick ratio of 0.49. The company has a 50 day moving average price of $119.64 and a 200 day moving average price of $124.01. Palomar Holdings, Inc. has a fifty-two week low of $105.51 and a fifty-two week high of $175.85. The stock has a market capitalization of $2.84 billion, a PE ratio of 14.94 and a beta of 0.49.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.14. Palomar had a net margin of 20.11% and a return on equity of 22.62%. The firm had revenue of $278.94 million during the quarter, compared to analysts’ expectations of $557.79 million. During the same quarter in the previous year, the company posted $1.87 EPS. Palomar’s revenue was up 59.7% on a year-over-year basis. Analysts forecast that Palomar Holdings, Inc. will post 8.94 EPS for the current year.

Insider Activity at Palomar

In related news, President Jon Christianson sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $125.00, for a total value of $375,000.00. Following the completion of the transaction, the president owned 62,919 shares in the company, valued at $7,864,875. The trade was a 4.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mac Armstrong sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $120.58, for a total transaction of $422,030.00. Following the completion of the transaction, the chief executive officer owned 339,888 shares of the company’s stock, valued at $40,983,695.04. This trade represents a 1.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 18,634 shares of company stock valued at $2,318,111 in the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PLMR. Weiss Ratings downgraded Palomar from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. Wall Street Zen downgraded Palomar from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. JPMorgan Chase & Co. decreased their price objective on Palomar from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th. Zacks Research downgraded Palomar from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Finally, Piper Sandler reduced their target price on Palomar from $151.00 to $132.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Palomar currently has an average rating of “Moderate Buy” and a consensus target price of $147.75.

Palomar Profile

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.