Campbell & CO Investment Adviser LLC Purchases Shares of 12,496 Palomar Holdings, Inc. $PLMR

Campbell & CO Investment Adviser LLC acquired a new stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,496 shares of the company’s stock, valued at approximately $1,459,000.

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

Insider Buying and Selling at Palomar

In other news, insider Jonathan Knutzen sold 281 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $128.84, for a total value of $36,204.04. Following the sale, the insider directly owned 21,565 shares of the company’s stock, valued at $2,778,434.60. This represents a 1.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Jon Christianson sold 1,691 shares of Palomar stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $139.50, for a total transaction of $235,894.50. Following the transaction, the president owned 59,631 shares of the company’s stock, valued at $8,318,524.50. The trade was a 2.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 13,276 shares of company stock worth $1,630,956. Corporate insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PLMR. JPMorgan Chase & Co. raised their price target on shares of Palomar from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, January 7th. Keefe, Bruyette & Woods raised their target price on Palomar from $170.00 to $171.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Wall Street Zen raised Palomar from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Weiss Ratings upgraded Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Finally, 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 research note on Wednesday, October 1st. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.50.

Palomar Stock Performance

PLMR stock opened at $128.46 on Friday. Palomar Holdings, Inc. has a fifty-two week low of $101.64 and a fifty-two week high of $175.85. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 20.04 and a beta of 0.42. The business’s 50 day moving average price is $128.15 and its two-hundred day moving average price is $125.00.

Palomar (NASDAQ:PLMR) last released its earnings results on Thursday, November 6th. The company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.45. The company had revenue of $244.66 million during the quarter, compared to analysts’ expectations of $207.98 million. Palomar had a return on equity of 21.93% and a net margin of 22.59%.During the same quarter last year, the business posted $1.23 EPS. Sell-side analysts forecast that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

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.