Atlas Capital Advisors Inc. Makes New $24.48 Million Investment in Palomar Holdings, Inc. $PLMR

Atlas Capital Advisors Inc. bought a new stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 181,634 shares of the company’s stock, valued at approximately $24,477,000. Palomar makes up 2.7% of Atlas Capital Advisors Inc.’s portfolio, making the stock its 3rd largest position.

Other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. acquired a new stake in shares of Palomar during the 4th quarter valued at about $32,000. Kestra Advisory Services LLC acquired a new stake in shares of Palomar during the 4th quarter valued at about $33,000. Clearstead Advisors LLC boosted its position in shares of Palomar by 31.0% during the 3rd quarter. Clearstead Advisors LLC now owns 397 shares of the company’s stock valued at $46,000 after acquiring an additional 94 shares in the last quarter. Frazier Financial Advisors LLC acquired a new stake in shares of Palomar during the 4th quarter valued at about $54,000. Finally, IFP Advisors Inc boosted its position in shares of Palomar by 43.9% during the 3rd quarter. IFP Advisors Inc now owns 482 shares of the company’s stock valued at $56,000 after acquiring an additional 147 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Palomar

In other Palomar news, CEO Mac Armstrong sold 3,500 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $120.58, for a total value of $422,030.00. Following the transaction, the chief executive officer directly owned 339,888 shares in the company, valued at $40,983,695.04. The trade was a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Jon Christianson sold 3,000 shares of the business’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $125.00, for a total transaction of $375,000.00. Following the completion of the transaction, the president owned 62,919 shares in the company, valued at approximately $7,864,875. This trade represents a 4.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 18,634 shares of company stock worth $2,318,111. Company insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PLMR shares. Keefe, Bruyette & Woods decreased their target price on shares of Palomar from $186.00 to $159.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Piper Sandler decreased their target price on shares of Palomar from $151.00 to $132.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Zacks Research lowered shares of Palomar from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. JPMorgan Chase & Co. decreased their target price on shares of Palomar from $160.00 to $150.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 26th. Finally, Weiss Ratings lowered shares of Palomar from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Palomar currently has a consensus rating of “Moderate Buy” and an average target price of $147.75.

Palomar Price Performance

NASDAQ:PLMR opened at $114.85 on Friday. The firm has a market cap of $3.04 billion, a PE ratio of 16.00 and a beta of 0.44. Palomar Holdings, Inc. has a 12 month low of $100.81 and a 12 month high of $165.10. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $117.67 and its two-hundred day moving average price is $122.84.

Palomar (NASDAQ:PLMR) last released its quarterly earnings results on Wednesday, May 6th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.14. The firm had revenue of $278.94 million for the quarter, compared to analyst estimates of $557.79 million. Palomar had a net margin of 20.11% and a return on equity of 22.62%. The company’s revenue for the quarter was up 59.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.87 earnings per share. On average, equities analysts anticipate that Palomar Holdings, Inc. will post 8.99 EPS for the current fiscal year.

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.