Conestoga Capital Advisors LLC Acquires 6,805 Shares of Palomar Holdings, Inc. $PLMR

Conestoga Capital Advisors LLC boosted its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR) by 63.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,585 shares of the company’s stock after acquiring an additional 6,805 shares during the quarter. Conestoga Capital Advisors LLC owned 0.07% of Palomar worth $2,053,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Peregrine Capital Management LLC grew its stake in shares of Palomar by 9.8% in the 3rd quarter. Peregrine Capital Management LLC now owns 75,894 shares of the company’s stock valued at $8,861,000 after purchasing an additional 6,792 shares during the period. SG Americas Securities LLC boosted its stake in Palomar by 456.4% in the 3rd quarter. SG Americas Securities LLC now owns 11,001 shares of the company’s stock valued at $1,284,000 after buying an additional 9,024 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in Palomar by 29.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 38,205 shares of the company’s stock valued at $4,460,000 after acquiring an additional 8,710 shares during the period. Salomon & Ludwin LLC acquired a new position in Palomar during the third quarter worth $25,000. Finally, Diversified Trust Co lifted its holdings in shares of Palomar by 32.6% during the third quarter. Diversified Trust Co now owns 4,977 shares of the company’s stock valued at $581,000 after acquiring an additional 1,223 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Insider Transactions at Palomar

In related news, CEO Mac Armstrong sold 5,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 358,388 shares of the company’s stock, valued at $44,031,549.68. The trade was a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO T Christopher Uchida sold 782 shares of the firm’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 $100,752.88. Following the completion of the transaction, the chief financial officer directly owned 7,916 shares in the company, valued at approximately $1,019,897.44. The trade was a 8.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 16,494 shares of company stock valued at $2,004,566 in the last three months. Company insiders own 3.70% of the company’s stock.

Palomar Price Performance

PLMR stock opened at $128.69 on Monday. The company has a 50 day moving average price of $127.04 and a 200 day moving average price of $125.62. Palomar Holdings, Inc. has a fifty-two week low of $98.42 and a fifty-two week high of $175.85. The stock has a market capitalization of $3.41 billion, a PE ratio of 20.08 and a beta of 0.42.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings data on Friday, December 16th. The company reported $0.07 EPS 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%. As a group, equities analysts expect that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PLMR has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Palomar in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on shares of Palomar from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, January 7th. Evercore ISI reduced their target price on Palomar from $168.00 to $134.00 and set an “in-line” rating on the stock in a report on Wednesday, October 1st. Wall Street Zen raised Palomar from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Keefe, Bruyette & Woods boosted their price objective on Palomar from $170.00 to $171.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $159.50.

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.