Sei Investments Co. Buys 38,917 Shares of Palomar Holdings, Inc. $PLMR

Sei Investments Co. grew its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 71.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,157 shares of the company’s stock after acquiring an additional 38,917 shares during the period. Sei Investments Co. owned 0.35% of Palomar worth $11,133,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. acquired a new stake in Palomar during the 4th quarter worth approximately $32,000. Kestra Advisory Services LLC acquired a new position in Palomar in the 4th quarter valued at $33,000. Rockefeller Capital Management L.P. lifted its position in Palomar by 81.5% during the fourth 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 period. Parallel Advisors LLC grew its stake in shares of Palomar by 638.3% during the first quarter. Parallel Advisors LLC now owns 443 shares of the company’s stock worth $53,000 after buying an additional 383 shares during the last quarter. Finally, Frazier Financial Advisors LLC bought a new stake in shares of Palomar during the fourth quarter worth $54,000. Institutional investors own 90.25% of the company’s stock.

Palomar Price Performance

PLMR stock opened at $133.79 on Friday. The company has a fifty day moving average price of $124.31 and a 200-day moving average price of $123.52. The company has a market capitalization of $3.55 billion, a P/E ratio of 18.63 and a beta of 0.41. Palomar Holdings, Inc. has a 52-week low of $100.81 and a 52-week high of $147.62. 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 (NASDAQ:PLMR) last issued 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. Palomar had a net margin of 20.11% and a return on equity of 22.62%. The company had revenue of $278.94 million for the quarter, compared to analyst estimates of $557.79 million. During the same quarter in the previous year, the business earned $1.87 earnings per share. Palomar’s revenue was up 59.7% compared to the same quarter last year. As a group, equities analysts expect that Palomar Holdings, Inc. will post 8.9 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upped their price target on shares of Palomar from $162.00 to $166.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Weiss Ratings upgraded Palomar from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 18th. JPMorgan Chase & Co. upped their target price on Palomar from $150.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Evercore set a $152.00 target price on Palomar in a research report on Friday, July 10th. Finally, Zacks Research lowered Palomar from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Palomar currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.50.

Insider Buying and Selling

In other Palomar news, CEO Mac Armstrong sold 3,500 shares of Palomar stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $112.96, for a total transaction of $395,360.00. Following the transaction, the chief executive officer directly owned 329,388 shares of the company’s stock, valued at approximately $37,207,668.48. The trade was a 1.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Jon Christianson sold 6,863 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $139.50, for a total value of $957,388.50. Following the completion of the sale, the president owned 66,478 shares in the company, valued at $9,273,681. This trade represents a 9.36% decrease in their position. 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 in the last three months. Insiders own 3.70% of the company’s stock.

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.