Villere ST Denis J & Co. LLC Has $35.09 Million Stock Position in Palomar Holdings, Inc. $PLMR

Villere ST Denis J & Co. LLC trimmed its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 4.0% in the 4th quarter, Holdings Channel reports. The firm owned 260,362 shares of the company’s stock after selling 10,785 shares during the quarter. Palomar accounts for 3.5% of Villere ST Denis J & Co. LLC’s holdings, making the stock its 6th biggest holding. Villere ST Denis J & Co. LLC’s holdings in Palomar were worth $35,086,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its position in shares of Palomar by 3.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,546 shares of the company’s stock worth $333,000 after purchasing an additional 82 shares during the last quarter. Clearstead Advisors LLC lifted its position in shares of Palomar by 31.0% during the third quarter. Clearstead Advisors LLC now owns 397 shares of the company’s stock worth $46,000 after purchasing an additional 94 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Palomar by 0.4% during the second quarter. California State Teachers Retirement System now owns 24,207 shares of the company’s stock worth $3,734,000 after purchasing an additional 97 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Palomar by 1.6% during the third quarter. Arizona State Retirement System now owns 7,900 shares of the company’s stock worth $922,000 after purchasing an additional 124 shares during the last quarter. Finally, Richardson Financial Services Inc. lifted its position in shares of Palomar by 210.0% during the third quarter. Richardson Financial Services Inc. now owns 217 shares of the company’s stock worth $25,000 after purchasing an additional 147 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors.

Insider Activity

In other Palomar news, President Jon Christianson sold 3,000 shares of Palomar stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $125.00, for a total value of $375,000.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 11,484 shares of the business’s stock in a transaction dated 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 in the company, valued at $10,997,431.56. The trade was a 11.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 65,132 shares of company stock worth $7,989,780 in the last quarter. 3.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Weiss Ratings downgraded Palomar from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, April 7th. Evercore assumed coverage on Palomar in a report on Monday, February 9th. They issued an “outperform” rating and a $150.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on Palomar from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Zacks Research upgraded Palomar from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 16th. Finally, Keefe, Bruyette & Woods lifted their price objective on Palomar from $183.00 to $186.00 and gave the company an “outperform” rating in a report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $161.75.

Palomar Price Performance

PLMR opened at $129.04 on Thursday. The business’s 50-day moving average is $124.19 and its two-hundred day moving average is $124.36. Palomar Holdings, Inc. has a 1 year low of $107.75 and a 1 year high of $175.85. The firm has a market capitalization of $3.42 billion, a PE ratio of 17.97 and a beta of 0.54.

Palomar (NASDAQ:PLMR) last posted its earnings results on Wednesday, February 11th. The company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.18. Palomar had a return on equity of 22.77% and a net margin of 22.50%.The company had revenue of $253.36 million for the quarter, compared to analyst estimates of $204.58 million. During the same quarter in the previous year, the firm earned $1.52 earnings per share. The firm’s quarterly revenue was up 62.7% compared to the same quarter last year. As a group, sell-side analysts expect that Palomar Holdings, Inc. will post 8.97 EPS for the current year.

About Palomar

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.