Quantinno Capital Management LP Boosts Stake in Palomar Holdings, Inc. $PLMR

Quantinno Capital Management LP increased its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 163.0% in the first quarter, HoldingsChannel.com reports. The fund owned 23,327 shares of the company’s stock after buying an additional 14,458 shares during the period. Quantinno Capital Management LP’s holdings in Palomar were worth $2,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. HighTower Advisors LLC increased its stake in shares of Palomar by 652.7% in the fourth quarter. HighTower Advisors LLC now owns 17,613 shares of the company’s stock worth $2,374,000 after acquiring an additional 15,273 shares during the period. Moran Wealth Management LLC acquired a new position in Palomar during the fourth quarter valued at $2,473,000. Stephens Investment Management Group LLC boosted its holdings in Palomar by 19.8% in the fourth quarter. Stephens Investment Management Group LLC now owns 694,317 shares of the company’s stock valued at $93,566,000 after purchasing an additional 114,859 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Palomar by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 2,698,278 shares of the company’s stock worth $363,620,000 after buying an additional 67,038 shares during the last quarter. Finally, Danske Bank A S boosted its position in Palomar by 69.9% in the 4th quarter. Danske Bank A S now owns 138,295 shares of the company’s stock worth $18,637,000 after purchasing an additional 56,898 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLMR has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Palomar from $150.00 to $167.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Zacks Research cut shares of Palomar from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Evercore set a $152.00 target price on shares of Palomar in a report on Friday, July 10th. Keefe, Bruyette & Woods increased their target price on shares of Palomar from $162.00 to $166.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Finally, Piper Sandler raised their price target on shares of Palomar from $132.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Four investment 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.50.

Palomar Stock Performance

Shares of Palomar stock opened at $131.00 on Monday. The business’s fifty day simple moving average is $126.70 and its 200-day simple moving average is $123.68. Palomar Holdings, Inc. has a 52 week low of $100.81 and a 52 week high of $147.62. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.30. The firm has a market cap of $3.45 billion, a PE ratio of 17.61 and a beta of 0.40.

Palomar (NASDAQ:PLMR) last announced its earnings results on Tuesday, August 4th. The company reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.17. The company had revenue of $314.42 million during the quarter, compared to analyst estimates of $621.52 million. Palomar had a net margin of 18.61% and a return on equity of 23.28%. During the same quarter last year, the firm posted $1.76 earnings per share. Equities analysts forecast that Palomar Holdings, Inc. will post 8.97 earnings per share for the current year.

Palomar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $1.80 annualized dividend and a yield of 1.4%.

Insider Transactions at Palomar

In other Palomar news, President Jon Christianson sold 6,863 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $139.50, for a total value of $957,388.50. Following the completion of the transaction, the president owned 66,478 shares in the company, valued at $9,273,681. The trade was a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Rodolphe Herve sold 1,207 shares of the business’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $135.35, for a total value of $163,367.45. Following the transaction, the chief operating officer directly owned 3,548 shares of the company’s stock, valued at $480,221.80. The trade was a 25.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 22,050 shares of company stock valued at $2,875,050. 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.