Champlain Investment Partners LLC Acquires 76,059 Shares of Palomar Holdings, Inc. $PLMR

Champlain Investment Partners LLC lifted its stake in Palomar Holdings, Inc. (NASDAQ:PLMR) by 22.9% during the 3rd quarter, Holdings Channel reports. The firm owned 408,746 shares of the company’s stock after acquiring an additional 76,059 shares during the period. Champlain Investment Partners LLC’s holdings in Palomar were worth $47,721,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Clearstead Advisors LLC lifted its stake in Palomar by 31.0% in the third quarter. Clearstead Advisors LLC now owns 397 shares of the company’s stock valued at $46,000 after buying an additional 94 shares during the period. California State Teachers Retirement System raised its position in shares of Palomar by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 24,207 shares of the company’s stock valued at $3,734,000 after acquiring an additional 97 shares during the period. Bank of Montreal Can boosted its stake in Palomar by 1.7% during the 2nd quarter. Bank of Montreal Can now owns 5,766 shares of the company’s stock worth $889,000 after acquiring an additional 98 shares during the last quarter. Hollencrest Capital Management grew its holdings in Palomar by 56.5% during the second quarter. Hollencrest Capital Management now owns 313 shares of the company’s stock valued at $48,000 after purchasing an additional 113 shares during the period. Finally, Arizona State Retirement System grew its holdings in Palomar by 1.6% during the third quarter. Arizona State Retirement System now owns 7,900 shares of the company’s stock valued at $922,000 after purchasing an additional 124 shares during the period. 90.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on PLMR. JPMorgan Chase & Co. increased their target price on shares of Palomar from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Evercore initiated coverage on Palomar in a report on Monday, February 9th. They set an “outperform” rating and a $150.00 target price on the stock. Keefe, Bruyette & Woods boosted their target price on Palomar from $170.00 to $171.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Wall Street Zen lowered Palomar from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Weiss Ratings upgraded Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, January 14th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Palomar has a consensus rating of “Buy” and a consensus target price of $163.00.

Palomar Price Performance

PLMR opened at $124.85 on Wednesday. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 17.39 and a beta of 0.46. The business’s 50-day moving average price is $128.10 and its two-hundred day moving average price is $123.28. Palomar Holdings, Inc. has a 1 year low of $107.75 and a 1 year high of $175.85.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.18. The business had revenue of $253.36 million during the quarter, compared to the consensus estimate of $204.58 million. Palomar had a return on equity of 22.77% and a net margin of 22.50%.Palomar’s quarterly revenue was up 62.7% on a year-over-year basis. During the same period last year, the company earned $1.52 earnings per share. Sell-side analysts anticipate that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President Jon Christianson sold 522 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $128.04, for a total value of $66,836.88. Following the completion of the transaction, the president owned 65,919 shares in the company, valued at $8,440,268.76. This trade represents a 0.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan Knutzen sold 281 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $128.04, for a total value of $35,979.24. Following the sale, the insider owned 27,579 shares in the company, valued at $3,531,215.16. The trade was a 1.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 58,999 shares of company stock valued at $7,253,229 over the last 90 days. 3.70% of the stock is currently owned by company 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.