4,514 Shares in Palomar Holdings, Inc. $PLMR Purchased by Gallacher Capital Management LLC

Gallacher Capital Management LLC acquired a new position in Palomar Holdings, Inc. (NASDAQ:PLMR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,514 shares of the company’s stock, valued at approximately $527,000.

A number of other hedge funds have also recently modified their holdings of PLMR. Salomon & Ludwin LLC purchased a new stake in shares of Palomar in the third quarter worth approximately $25,000. Richardson Financial Services Inc. grew its position in Palomar by 210.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 217 shares of the company’s stock valued at $25,000 after acquiring an additional 147 shares during the last quarter. Allworth Financial LP increased its stake in Palomar by 1,970.0% in the second quarter. Allworth Financial LP now owns 207 shares of the company’s stock worth $32,000 after purchasing an additional 197 shares during the period. Hollencrest Capital Management increased its stake in Palomar by 56.5% in the second quarter. Hollencrest Capital Management now owns 313 shares of the company’s stock worth $48,000 after purchasing an additional 113 shares during the period. Finally, IFP Advisors Inc lifted its position in shares of Palomar by 556.9% during the second quarter. IFP Advisors Inc now owns 335 shares of the company’s stock worth $52,000 after purchasing an additional 284 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Insider Activity at Palomar

In other Palomar news, CFO T Christopher Uchida sold 2,103 shares of the stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $119.88, for a total transaction of $252,107.64. Following the sale, the chief financial officer owned 11,473 shares of the company’s stock, valued at approximately $1,375,383.24. This trade represents a 15.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Jon Christianson sold 1,991 shares of Palomar stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $119.88, for a total value of $238,681.08. Following the completion of the transaction, the president owned 62,985 shares in the company, valued at $7,550,641.80. This represents a 3.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 58,998 shares of company stock valued at $7,255,669 over the last ninety days. 3.70% of the stock is owned by company insiders.

Palomar Price Performance

NASDAQ:PLMR opened at $122.99 on Thursday. Palomar Holdings, Inc. has a 1-year low of $107.01 and a 1-year high of $175.85. The company has a 50-day moving average of $127.61 and a 200 day moving average of $123.44. The firm has a market cap of $3.26 billion, a PE ratio of 19.19 and a beta of 0.44.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 14th. JPMorgan Chase & Co. boosted their price objective on shares of Palomar from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Wall Street Zen raised shares of Palomar from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Palomar from $170.00 to $171.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $159.50.

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.