Quantinno Capital Management LP Increases Stake in Palomar Holdings, Inc. $PLMR

Quantinno Capital Management LP increased its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 163.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,327 shares of the company’s stock after buying an additional 14,458 shares during the quarter. Quantinno Capital Management LP owned 0.09% of Palomar worth $2,788,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PLMR. Geneos Wealth Management Inc. purchased a new position in shares of Palomar during the fourth quarter valued at approximately $32,000. Kestra Advisory Services LLC bought a new position in Palomar in the 4th quarter worth about $33,000. Rockefeller Capital Management L.P. lifted its position in Palomar by 81.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 294 shares of the company’s stock valued at $40,000 after acquiring an additional 132 shares in the last quarter. Frazier Financial Advisors LLC purchased a new stake in shares of Palomar during the 4th quarter valued at about $54,000. Finally, Parallel Advisors LLC grew its position in Palomar by 638.3% in the 1st quarter. Parallel Advisors LLC now owns 443 shares of the company’s stock worth $53,000 after purchasing an additional 383 shares during the period. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Palomar Price Performance

Shares of PLMR opened at $131.00 on Monday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $3.45 billion, a P/E ratio of 17.61 and a beta of 0.40. The firm has a fifty day moving average price of $126.70 and a 200-day moving average price of $123.68. Palomar Holdings, Inc. has a 12-month low of $100.81 and a 12-month high of $147.62.

Palomar (NASDAQ:PLMR) last issued its earnings results on Tuesday, August 4th. The company reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.17. The business had revenue of $314.42 million for the quarter, compared to analyst estimates of $621.52 million. Palomar had a net margin of 18.61% and a return on equity of 23.28%. During the same period last year, the company posted $1.76 earnings per share. Equities research analysts expect that Palomar Holdings, Inc. will post 8.97 earnings per share for the current year.

Palomar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be issued a $0.45 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $1.80 annualized dividend and a dividend yield of 1.4%.

Insider Buying and Selling at Palomar

In related news, CEO Mac Armstrong sold 3,500 shares of Palomar stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $112.96, for a total transaction of $395,360.00. Following the transaction, the chief executive officer directly owned 329,388 shares of the company’s stock, valued at $37,207,668.48. This trade represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Rodolphe Herve sold 1,207 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $135.35, for a total transaction of $163,367.45. Following the completion of the transaction, the chief operating officer directly owned 3,548 shares of the company’s stock, valued at $480,221.80. This trade represents a 25.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 22,050 shares of company stock valued at $2,875,050 in the last ninety days. Company insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Evercore set a $152.00 target price on shares of Palomar in a research report on Friday, July 10th. JPMorgan Chase & Co. boosted their target price on shares of Palomar from $150.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Zacks Research lowered Palomar from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Piper Sandler lifted their price objective on shares of Palomar from $132.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Palomar from $162.00 to $166.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Palomar presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.50.

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.