Palomar Holdings, Inc. $PLMR Shares Acquired by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL lifted its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 168.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,188 shares of the company’s stock after purchasing an additional 15,164 shares during the period. Tudor Investment Corp ET AL’s holdings in Palomar were worth $2,824,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PLMR. Vanguard Group Inc. increased its stake in Palomar by 3.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,631,240 shares of the company’s stock worth $307,197,000 after purchasing an additional 77,515 shares in the last quarter. Invesco Ltd. lifted its stake in Palomar by 234.1% during the second quarter. Invesco Ltd. now owns 798,361 shares of the company’s stock valued at $123,147,000 after buying an additional 559,383 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of Palomar by 81.0% in the third quarter. Westfield Capital Management Co. LP now owns 738,528 shares of the company’s stock worth $86,223,000 after buying an additional 330,592 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Palomar by 1.7% in the third quarter. Dimensional Fund Advisors LP now owns 596,050 shares of the company’s stock worth $69,584,000 after buying an additional 9,731 shares during the period. Finally, Stephens Investment Management Group LLC increased its position in shares of Palomar by 3.6% in the third quarter. Stephens Investment Management Group LLC now owns 579,458 shares of the company’s stock worth $67,652,000 after acquiring an additional 19,908 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PLMR. Weiss Ratings upgraded shares of Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 14th. Wall Street Zen cut shares of Palomar from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Keefe, Bruyette & Woods boosted their target price on shares of Palomar from $170.00 to $171.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Evercore began coverage on Palomar in a report on Monday, February 9th. They issued an “outperform” rating and a $150.00 target price for the company. Finally, JPMorgan Chase & Co. raised their target price on Palomar from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Seven analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $163.00.

Palomar Price Performance

NASDAQ PLMR opened at $116.83 on Friday. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 16.27 and a beta of 0.46. The company has a 50 day simple moving average of $124.01 and a 200-day simple moving average of $122.97. Palomar Holdings, Inc. has a 52-week low of $107.75 and a 52-week high of $175.85.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.18. Palomar had a net margin of 22.50% and a return on equity of 22.77%. The firm had revenue of $253.36 million for the quarter, compared to the consensus estimate of $204.58 million. During the same period in the previous year, the firm posted $1.52 earnings per share. The firm’s revenue was up 62.7% on a year-over-year basis. On average, analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Insider Buying and Selling at Palomar

In other news, CFO T Christopher Uchida sold 2,103 shares of the company’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $119.88, for a total value of $252,107.64. Following the transaction, the chief financial officer directly owned 11,473 shares of the company’s stock, valued at approximately $1,375,383.24. This represents a 15.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mac Armstrong sold 11,484 shares of the stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $119.88, for a total value of $1,376,701.92. Following the sale, the chief executive officer owned 91,737 shares of the company’s stock, valued at approximately $10,997,431.56. This represents a 11.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 60,808 shares of company stock worth $7,439,365. 3.70% of the stock is currently owned by corporate insiders.

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.