Robeco Institutional Asset Management B.V. Buys 8,710 Shares of Palomar Holdings, Inc. $PLMR

Robeco Institutional Asset Management B.V. grew its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 29.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,205 shares of the company’s stock after acquiring an additional 8,710 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Palomar were worth $4,460,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Invesco Ltd. grew its stake in Palomar by 234.1% in 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. lifted its holdings 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 during the period. AustralianSuper Pty Ltd bought a new position in shares of Palomar during the 2nd quarter worth $37,253,000. Orion Porfolio Solutions LLC grew its position in shares of Palomar by 2,753.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 180,491 shares of the company’s stock worth $27,841,000 after buying an additional 174,165 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Palomar by 65.7% during the second quarter. Ameriprise Financial Inc. now owns 196,624 shares of the company’s stock valued at $30,324,000 after buying an additional 77,992 shares during the period. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Mac Armstrong sold 5,000 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $122.86, for a total value of $614,300.00. Following the completion of the transaction, the chief executive officer directly owned 358,388 shares of the company’s stock, valued at $44,031,549.68. This trade represents a 1.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO T Christopher Uchida sold 782 shares of Palomar 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 completion of the sale, the chief financial officer owned 7,916 shares of the company’s stock, valued at $1,019,897.44. This trade represents a 8.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 16,494 shares of company stock valued at $2,004,566. 3.70% of the stock is owned by corporate insiders.

Palomar Trading Down 1.0%

NASDAQ PLMR opened at $128.69 on Friday. The firm’s fifty day simple moving average is $127.04 and its two-hundred day simple moving average is $125.80. The firm has a market capitalization of $3.41 billion, a P/E ratio of 20.08 and a beta of 0.42. Palomar Holdings, Inc. has a 12-month low of $98.42 and a 12-month high of $175.85.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data on Friday, December 16th. The company reported $0.07 earnings per share for the quarter. Palomar had a return on equity of 21.93% and a net margin of 22.59%.The firm had revenue of $65.74 million during the quarter. As a group, sell-side analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on PLMR shares. Evercore ISI dropped their target price on shares of Palomar from $168.00 to $134.00 and set an “in-line” rating on the stock in a report on Wednesday, October 1st. JPMorgan Chase & Co. upped their price target on shares of Palomar from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday. Keefe, Bruyette & Woods lifted their price objective on shares of Palomar from $170.00 to $171.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Wall Street Zen raised shares of Palomar from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Palomar in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Palomar currently has a consensus rating of “Moderate Buy” and an average target price of $159.50.

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.