Exchange Traded Concepts LLC Takes Position in Palomar Holdings, Inc. $PLMR

Exchange Traded Concepts LLC acquired a new position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,552 shares of the company’s stock, valued at approximately $765,000.

A number of other large investors have also recently bought and sold shares of PLMR. Wealth Enhancement Advisory Services LLC increased its position in Palomar by 3.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,461 shares of the company’s stock worth $363,000 after buying an additional 90 shares in the last quarter. California State Teachers Retirement System increased its position in Palomar by 0.4% during the 2nd quarter. California State Teachers Retirement System now owns 24,207 shares of the company’s stock worth $3,734,000 after purchasing an additional 97 shares in the last quarter. Bank of Montreal Can raised its stake in Palomar by 1.7% in the 2nd quarter. Bank of Montreal Can now owns 5,766 shares of the company’s stock valued at $889,000 after purchasing an additional 98 shares during the last quarter. GAMMA Investing LLC raised its stake in Palomar by 14.4% in the 2nd quarter. GAMMA Investing LLC now owns 833 shares of the company’s stock valued at $128,000 after purchasing an additional 105 shares during the last quarter. Finally, Maryland State Retirement & Pension System lifted its holdings in Palomar by 1.5% in the 2nd quarter. Maryland State Retirement & Pension System now owns 7,859 shares of the company’s stock valued at $1,212,000 after purchasing an additional 113 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Evercore ISI lowered their price target on shares of Palomar from $168.00 to $134.00 and set an “in-line” rating for the company in a report on Wednesday, October 1st. Wall Street Zen downgraded Palomar from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Palomar in a report on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their price objective on Palomar from $164.00 to $170.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th. Finally, JPMorgan Chase & Co. increased their target price on Palomar from $137.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Palomar presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.67.

Insider Transactions at Palomar

In other Palomar news, insider Jonathan Knutzen sold 281 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $128.84, for a total transaction of $36,204.04. Following the completion of the sale, the insider directly owned 21,565 shares in the company, valued at $2,778,434.60. The trade was a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mac Armstrong sold 5,000 shares of Palomar stock in a transaction on Friday, November 21st. The shares were sold at an average price of $122.86, for a total transaction of $614,300.00. Following the transaction, the chief executive officer owned 358,388 shares in the company, valued at $44,031,549.68. The trade was a 1.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 16,494 shares of company stock valued at $2,004,566. 3.70% of the stock is currently owned by company insiders.

Palomar Stock Up 0.4%

Shares of NASDAQ PLMR opened at $135.38 on Tuesday. The stock has a market capitalization of $3.59 billion, a PE ratio of 21.12 and a beta of 0.49. The firm has a fifty day moving average of $123.64 and a 200-day moving average of $127.23. Palomar Holdings, Inc. has a 52-week low of $98.42 and a 52-week high of $175.85.

Palomar (NASDAQ:PLMR) last issued its earnings results on Friday, December 16th. The company reported $0.07 earnings per share for the quarter. The firm had revenue of $65.74 million for the quarter. Palomar had a return on equity of 21.93% and a net margin of 22.59%. Equities research analysts expect that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Palomar Company 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.