Palomar Holdings, Inc. $PLMR Shares Acquired by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL increased its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 168.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,188 shares of the company’s stock after buying an additional 15,164 shares during the quarter. Tudor Investment Corp ET AL owned about 0.09% of Palomar worth $2,824,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PLMR. Royal Bank of Canada boosted its holdings in shares of Palomar by 49.1% during the first quarter. Royal Bank of Canada now owns 2,956 shares of the company’s stock valued at $406,000 after acquiring an additional 974 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Palomar by 5.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,427 shares of the company’s stock worth $2,115,000 after acquiring an additional 791 shares during the period. NewEdge Advisors LLC bought a new stake in Palomar in the 1st quarter valued at about $66,000. United Services Automobile Association bought a new stake in Palomar in the 1st quarter valued at about $223,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Palomar by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,661 shares of the company’s stock valued at $9,960,000 after purchasing an additional 7,754 shares during the period. 90.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on PLMR shares. Weiss Ratings upgraded shares of Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, January 14th. Wall Street Zen downgraded Palomar from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. JPMorgan Chase & Co. increased their price objective on Palomar from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Keefe, Bruyette & Woods raised their target price on Palomar from $170.00 to $171.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Finally, Evercore assumed coverage on Palomar in a research note on Monday, February 9th. They set an “outperform” rating and a $150.00 target price on the stock. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $163.00.

Palomar Stock Down 3.7%

Shares of PLMR stock opened at $116.83 on Friday. The stock has a 50-day simple moving average of $124.01 and a 200 day simple moving average of $122.97. Palomar Holdings, Inc. has a fifty-two week low of $107.75 and a fifty-two week high of $175.85. The stock has a market capitalization of $3.12 billion, a P/E ratio of 16.27 and a beta of 0.46.

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

Insider Activity at Palomar

In related news, CEO Mac Armstrong sold 11,484 shares of the firm’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $119.88, for a total transaction of $1,376,701.92. Following the completion of the sale, the chief executive officer directly owned 91,737 shares in the company, valued at approximately $10,997,431.56. This trade represents a 11.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO T Christopher Uchida sold 2,103 shares of Palomar stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $119.88, for a total transaction of $252,107.64. Following the completion of the transaction, the chief financial officer owned 11,473 shares in the company, valued at approximately $1,375,383.24. This trade represents a 15.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 60,808 shares of company stock worth $7,439,365 in the last ninety days. Corporate insiders own 3.70% of the company’s stock.

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.