Robeco Institutional Asset Management B.V. Buys 8,710 Shares of Palomar Holdings, Inc. $PLMR

Robeco Institutional Asset Management B.V. increased its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 29.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 38,205 shares of the company’s stock after acquiring an additional 8,710 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.14% of Palomar worth $4,460,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Invesco Ltd. boosted its holdings in shares of Palomar by 234.1% during the 2nd quarter. Invesco Ltd. now owns 798,361 shares of the company’s stock valued at $123,147,000 after purchasing an additional 559,383 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Palomar by 290.2% in the second quarter. Alliancebernstein L.P. now owns 497,080 shares of the company’s stock worth $76,675,000 after buying an additional 369,697 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in Palomar during the second quarter valued at approximately $37,253,000. Orion Porfolio Solutions LLC grew its holdings in Palomar by 2,753.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 180,491 shares of the company’s stock valued at $27,841,000 after buying an additional 174,165 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Palomar by 65.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 196,624 shares of the company’s stock worth $30,324,000 after acquiring an additional 77,992 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Jonathan Knutzen sold 281 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was 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 of the company’s stock, valued at approximately $2,778,434.60. This trade represents a 1.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO T Christopher Uchida sold 782 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $128.84, for a total value of $100,752.88. Following the transaction, the chief financial officer owned 7,916 shares of the company’s stock, valued at approximately $1,019,897.44. The trade was a 8.99% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 16,494 shares of company stock worth $2,004,566. Corporate insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on PLMR shares. Wall Street Zen upgraded Palomar from a “hold” rating to a “buy” rating in a research report on Saturday. JPMorgan Chase & Co. lifted their price objective on shares of Palomar from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday. Weiss Ratings restated a “hold (c+)” rating on shares of Palomar in a report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their price target on shares of Palomar from $170.00 to $171.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Finally, Evercore ISI dropped their price target on Palomar from $168.00 to $134.00 and set an “in-line” rating for the company in a research report on Wednesday, October 1st. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $159.50.

Palomar Trading Down 1.0%

Shares of PLMR opened at $128.69 on Friday. The company’s fifty day simple moving average is $127.04 and its 200-day simple moving average is $125.80. The company has a market cap of $3.41 billion, a P/E ratio of 20.08 and a beta of 0.42. Palomar Holdings, Inc. has a twelve month low of $98.42 and a twelve month high of $175.85.

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