Peregrine Capital Management LLC Buys 6,792 Shares of Palomar Holdings, Inc. $PLMR

Peregrine Capital Management LLC lifted its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 9.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,894 shares of the company’s stock after buying an additional 6,792 shares during the quarter. Peregrine Capital Management LLC’s holdings in Palomar were worth $8,861,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PLMR. Royal Bank of Canada lifted its stake in Palomar by 49.1% in the first quarter. Royal Bank of Canada now owns 2,956 shares of the company’s stock valued at $406,000 after acquiring an additional 974 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Palomar by 322.4% during the first quarter. Alliancebernstein L.P. now owns 127,383 shares of the company’s stock worth $17,462,000 after purchasing an additional 97,226 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Palomar by 5.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,427 shares of the company’s stock worth $2,115,000 after buying an additional 791 shares during the last quarter. NewEdge Advisors LLC bought a new stake in Palomar in the first quarter valued at approximately $66,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Palomar in the 1st quarter valued at about $314,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Palomar Stock Up 0.5%

Shares of NASDAQ:PLMR opened at $129.96 on Friday. The business’s 50 day moving average is $126.75 and its 200 day moving average is $126.25. Palomar Holdings, Inc. has a 12-month low of $98.42 and a 12-month high of $175.85. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 20.27 and a beta of 0.42.

Palomar (NASDAQ:PLMR) last released its earnings results on Friday, December 16th. The company reported $0.07 earnings per share (EPS) for the quarter. Palomar had a return on equity of 21.93% and a net margin of 22.59%.The company had revenue of $65.74 million during the quarter. As a group, equities research analysts expect that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

PLMR has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Palomar from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday. Keefe, Bruyette & Woods boosted their target price on shares of Palomar from $170.00 to $171.00 and gave the stock an “outperform” rating in a report on Tuesday. Wall Street Zen downgraded shares of Palomar from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Palomar in a research report on Wednesday, October 8th. Finally, Evercore ISI cut their price objective on Palomar from $168.00 to $134.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 1st. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Palomar currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.50.

Insider Activity at Palomar

In other Palomar news, insider Jonathan Knutzen sold 281 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $128.84, for a total value of $36,204.04. Following the transaction, the insider directly owned 21,565 shares in the company, valued at $2,778,434.60. The trade was a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO T Christopher Uchida sold 782 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $128.84, for a total transaction of $100,752.88. Following the sale, the chief financial officer owned 7,916 shares of the company’s stock, valued at approximately $1,019,897.44. The trade was a 8.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,494 shares of company stock worth $2,004,566 in the last ninety days. Corporate insiders own 3.70% of the company’s stock.

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.