19,342 Shares in Palomar Holdings, Inc. $PLMR Bought by Corient Private Wealth LP

Corient Private Wealth LP acquired a new position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 19,342 shares of the company’s stock, valued at approximately $2,445,000.

A number of other hedge funds have also bought and sold shares of the company. Bank of America Corp DE purchased a new stake in shares of Palomar in the second quarter valued at $14,016,000. Freestone Grove Partners LP purchased a new position in shares of Palomar during the 2nd quarter worth about $78,657,000. Man Group plc purchased a new position in shares of Palomar during the 2nd quarter worth about $485,000. Jupiter Topco LLC bought a new position in Palomar during the 2nd quarter valued at about $132,166,000. Finally, Hsbc Holdings PLC bought a new position in Palomar during the 2nd quarter valued at about $767,000. Institutional investors own 90.25% of the company’s stock.

Palomar Stock Up 0.2%

Shares of PLMR opened at $132.12 on Thursday. The firm has a fifty day moving average price of $133.61 and a 200-day moving average price of $124.19. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $3.48 billion, a P/E ratio of 17.76 and a beta of 0.39. Palomar Holdings, Inc. has a 12-month low of $100.81 and a 12-month high of $147.62.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.19 by $0.17. Palomar had a net margin of 18.61% and a return on equity of 23.28%. The company had revenue of $314.42 million for the quarter, compared to the consensus estimate of $621.52 million. During the same quarter last year, the firm posted $1.76 EPS. Equities research analysts expect that Palomar Holdings, Inc. will post 9.21 earnings per share for the current year.

Palomar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Wednesday, August 19th. Palomar’s dividend payout ratio is currently 24.19%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PLMR shares. Piper Sandler increased their price objective on shares of Palomar from $132.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. boosted their target price on Palomar from $150.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Evercore set a $152.00 target price on Palomar in a research note on Friday, July 10th. Keefe, Bruyette & Woods increased their price target on Palomar from $166.00 to $167.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Finally, Weiss Ratings raised Palomar from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 18th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $162.75.

Insider Buying and Selling at Palomar

In other news, insider Timothy Carter sold 480 shares of the firm’s stock in a transaction that occurred on Sunday, June 28th. The shares were sold at an average price of $124.29, for a total transaction of $59,659.20. Following the transaction, the insider directly owned 1,670 shares of the company’s stock, valued at approximately $207,564.30. This trade represents a 22.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO T Christopher Uchida sold 791 shares of Palomar stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $127.74, for a total transaction of $101,042.34. Following the sale, the chief financial officer directly owned 16,238 shares of the company’s stock, valued at $2,074,242.12. This represents a 4.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 23,665 shares of company stock valued at $3,138,093. 3.70% of the stock is 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.