Palomar Holdings, Inc. $PLMR Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 3.7% during the first quarter, Holdings Channel reports. The firm owned 653,026 shares of the company’s stock after buying an additional 23,579 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Palomar were worth $78,037,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new position in shares of Palomar during the 4th quarter worth $32,000. Kestra Advisory Services LLC acquired a new position in shares of Palomar during the 4th quarter worth approximately $33,000. Rockefeller Capital Management L.P. raised its position in shares of Palomar by 81.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 294 shares of the company’s stock worth $40,000 after purchasing an additional 132 shares during the last quarter. Frazier Financial Advisors LLC purchased a new stake in Palomar in the 4th quarter valued at approximately $54,000. Finally, Parallel Advisors LLC lifted its stake in Palomar by 638.3% in the 1st quarter. Parallel Advisors LLC now owns 443 shares of the company’s stock valued at $53,000 after buying an additional 383 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wall Street Analysts Forecast Growth

PLMR has been the subject of several recent research reports. Evercore set a $152.00 price target on Palomar in a research report on Friday, July 10th. Weiss Ratings upgraded Palomar from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 18th. Keefe, Bruyette & Woods increased their price objective on Palomar from $162.00 to $166.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Piper Sandler lifted their price objective on Palomar from $132.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Palomar from $150.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $162.50.

Insider Activity

In related news, President Jon Christianson sold 3,000 shares of the company’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $139.50, for a total value of $418,500.00. Following the completion of the transaction, the president directly owned 66,478 shares in the company, valued at approximately $9,273,681. This represents a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $137.26, for a total value of $480,410.00. Following the transaction, the chief executive officer owned 325,888 shares in the company, valued at $44,731,386.88. This trade represents a 1.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,843 shares of company stock valued at $2,711,683 over the last quarter. Company insiders own 3.70% of the company’s stock.

Palomar Stock Down 4.6%

Shares of NASDAQ PLMR opened at $136.30 on Friday. The firm has a market cap of $3.61 billion, a P/E ratio of 18.98 and a beta of 0.41. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.49 and a current ratio of 0.49. Palomar Holdings, Inc. has a 1 year low of $100.81 and a 1 year high of $147.62. The firm’s 50 day moving average price is $123.91 and its 200 day moving average price is $123.45.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.14. Palomar had a return on equity of 22.62% and a net margin of 20.11%.The company had revenue of $278.94 million during the quarter, compared to the consensus estimate of $557.79 million. During the same period in the previous year, the firm posted $1.87 EPS. Palomar’s revenue was up 59.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Palomar Holdings, Inc. will post 8.9 earnings per share for the current year.

Palomar Company 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.