21,000 Shares in Palomar Holdings, Inc. $PLMR Bought by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. bought a new stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 21,000 shares of the company’s stock, valued at approximately $2,452,000.

Other hedge funds have also recently bought and sold shares of the company. Invesco Ltd. increased its holdings in shares of Palomar by 234.1% during the 2nd quarter. Invesco Ltd. now owns 798,361 shares of the company’s stock worth $123,147,000 after purchasing an additional 559,383 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Palomar by 290.2% in the second quarter. Alliancebernstein L.P. now owns 497,080 shares of the company’s stock valued at $76,675,000 after buying an additional 369,697 shares during the period. AustralianSuper Pty Ltd acquired a new stake in Palomar during the second quarter worth about $37,253,000. Orion Porfolio Solutions LLC grew its position in Palomar by 2,753.2% during the second 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 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 acquiring an additional 77,992 shares during the period. 90.25% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Jonathan Knutzen sold 281 shares of Palomar stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $128.84, for a total value of $36,204.04. Following the completion of the transaction, the insider owned 21,565 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Also, CFO T Christopher Uchida sold 782 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $128.84, for a total value of $100,752.88. Following the sale, the chief financial officer owned 7,916 shares in the company, valued at approximately $1,019,897.44. This trade represents a 8.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 15,586 shares of company stock worth $1,999,706. Corporate insiders own 3.70% of the company’s stock.

Palomar Price Performance

Palomar stock opened at $121.87 on Wednesday. The stock has a fifty day moving average price of $127.72 and a two-hundred day moving average price of $124.11. Palomar Holdings, Inc. has a 52-week low of $104.47 and a 52-week high of $175.85. The firm has a market capitalization of $3.23 billion, a P/E ratio of 19.01 and a beta of 0.42.

Palomar (NASDAQ:PLMR) last issued its earnings results on Thursday, November 6th. The company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.56 by $0.45. The company had revenue of $244.66 million for the quarter, compared to the consensus estimate of $207.98 million. Palomar had a net margin of 22.59% and a return on equity of 21.93%. During the same quarter in the previous year, the company earned $1.23 EPS. On average, equities research analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on PLMR shares. Keefe, Bruyette & Woods raised their price objective on Palomar from $170.00 to $171.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. JPMorgan Chase & Co. upped their target price on Palomar from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Wall Street Zen upgraded shares of Palomar from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Weiss Ratings upgraded shares of Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, January 14th. Finally, Evercore ISI reduced their price objective 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. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Palomar currently has an average rating of “Moderate Buy” and an average target price of $159.50.

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.