SG Americas Securities LLC Has $1.28 Million Stock Position in Palomar Holdings, Inc. $PLMR

SG Americas Securities LLC raised its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 456.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,001 shares of the company’s stock after purchasing an additional 9,024 shares during the quarter. SG Americas Securities LLC’s holdings in Palomar were worth $1,284,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada grew its stake in shares of Palomar by 49.1% in the 1st quarter. Royal Bank of Canada now owns 2,956 shares of the company’s stock valued at $406,000 after buying an additional 974 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Palomar by 5.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,427 shares of the company’s stock valued at $2,115,000 after acquiring an additional 791 shares during the last quarter. NewEdge Advisors LLC bought a new stake in Palomar in the first quarter worth approximately $66,000. United Services Automobile Association acquired a new position in shares of Palomar during the 1st quarter worth $223,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Palomar by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,661 shares of the company’s stock worth $9,960,000 after purchasing an additional 7,754 shares during the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Palomar

In other news, CFO T Christopher Uchida sold 782 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 transaction of $100,752.88. Following the completion of the transaction, the chief financial officer owned 7,916 shares of the company’s stock, valued at approximately $1,019,897.44. This represents a 8.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mac Armstrong sold 5,000 shares of the stock in a transaction dated 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 owned 358,388 shares of the company’s stock, valued at approximately $44,031,549.68. The trade was a 1.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 13,276 shares of company stock worth $1,630,956. 3.70% of the stock is owned by insiders.

Analyst Ratings Changes

PLMR has been the subject of a number of recent research reports. Evercore ISI decreased their price objective on shares of Palomar from $168.00 to $134.00 and set an “in-line” rating for the company in a report on Wednesday, October 1st. JPMorgan Chase & Co. boosted their price target on Palomar from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Weiss Ratings raised Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. Keefe, Bruyette & Woods raised their price objective on Palomar from $170.00 to $171.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Finally, Wall Street Zen raised Palomar from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $159.50.

Palomar Stock Performance

Palomar stock opened at $128.46 on Friday. Palomar Holdings, Inc. has a 52 week low of $101.64 and a 52 week high of $175.85. The firm has a market capitalization of $3.40 billion, a PE ratio of 20.04 and a beta of 0.42. The business’s 50-day simple moving average is $128.15 and its 200-day simple moving average is $125.16.

Palomar (NASDAQ:PLMR) last released its earnings results on Thursday, November 6th. The company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.45. Palomar had a return on equity of 21.93% and a net margin of 22.59%.The firm had revenue of $244.66 million for the quarter, compared to analyst estimates of $207.98 million. During the same quarter last year, the firm posted $1.23 EPS. Research 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.