Palomar Holdings, Inc. $PLMR Holdings Increased by Osaic Holdings Inc.

Osaic Holdings Inc. lifted its stake in Palomar Holdings, Inc. (NASDAQ:PLMR) by 93.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,370 shares of the company’s stock after acquiring an additional 9,371 shares during the period. Osaic Holdings Inc.’s holdings in Palomar were worth $2,933,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Invesco Ltd. raised its holdings in Palomar by 234.1% during the second quarter. Invesco Ltd. now owns 798,361 shares of the company’s stock worth $123,147,000 after purchasing an additional 559,383 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Palomar by 290.2% in the 2nd quarter. Alliancebernstein L.P. now owns 497,080 shares of the company’s stock worth $76,675,000 after buying an additional 369,697 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of Palomar in the second quarter valued at $37,253,000. Orion Porfolio Solutions LLC boosted its stake in Palomar by 2,753.2% during the second quarter. Orion Porfolio Solutions LLC now owns 180,491 shares of the company’s stock valued at $27,841,000 after buying an additional 174,165 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Palomar by 65.7% during the second quarter. Ameriprise Financial Inc. now owns 196,624 shares of the company’s stock worth $30,324,000 after acquiring an additional 77,992 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Palomar Trading Down 0.9%

PLMR stock opened at $134.78 on Friday. Palomar Holdings, Inc. has a one year low of $98.42 and a one year high of $175.85. The firm has a 50-day moving average of $123.23 and a two-hundred day moving average of $127.83. The firm has a market capitalization of $3.57 billion, a PE ratio of 21.03 and a beta of 0.50.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods upped their price target on shares of Palomar from $164.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, November 11th. Wall Street Zen cut shares of Palomar from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Palomar in a research note on Wednesday, October 8th. Evercore ISI reduced their target price on shares of Palomar from $168.00 to $134.00 and set an “in-line” rating for the company in a report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Palomar from $137.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Palomar has a consensus rating of “Moderate Buy” and an average target price of $157.67.

Insider Activity

In other Palomar news, CEO Mac Armstrong sold 5,000 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $122.86, for a total transaction of $614,300.00. Following the sale, the chief executive officer directly owned 358,388 shares of the company’s stock, valued at $44,031,549.68. The trade was a 1.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan Knutzen sold 281 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $128.84, for a total value of $36,204.04. Following the completion of the sale, the insider directly owned 21,565 shares of the company’s stock, valued at approximately $2,778,434.60. This trade represents a 1.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 14,803 shares of company stock valued at $1,768,671. 3.70% of the stock is currently owned by company insiders.

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.