Gallacher Capital Management LLC Makes New $527,000 Investment in Palomar Holdings, Inc. $PLMR

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLMR. Salomon & Ludwin LLC bought a new stake in Palomar in the 3rd quarter worth about $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 worth $25,000 after purchasing an additional 147 shares during the period. Allworth Financial LP raised its stake in Palomar by 1,970.0% during the 2nd quarter. Allworth Financial LP now owns 207 shares of the company’s stock valued at $32,000 after buying an additional 197 shares during the last quarter. Hollencrest Capital Management raised its stake in Palomar by 56.5% during the 2nd quarter. Hollencrest Capital Management now owns 313 shares of the company’s stock valued at $48,000 after buying an additional 113 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of Palomar by 556.9% during the 2nd quarter. IFP Advisors Inc now owns 335 shares of the company’s stock valued at $52,000 after buying an additional 284 shares during the period. 90.25% of the stock is owned by institutional investors.

Insider Transactions at Palomar

In other Palomar news, 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 transaction of $238,681.08. Following the completion of the transaction, the president directly owned 62,985 shares of the company’s stock, valued at $7,550,641.80. The trade was a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO T Christopher Uchida sold 2,103 shares of the business’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $119.88, for a total transaction of $252,107.64. Following the transaction, the chief financial officer owned 11,473 shares in the company, valued at $1,375,383.24. This trade represents a 15.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 58,998 shares of company stock worth $7,255,669. 3.70% of the stock is currently owned by company insiders.

Palomar Trading Up 0.9%

Shares of NASDAQ PLMR opened at $122.99 on Thursday. The firm’s 50-day moving average price is $127.61 and its 200-day moving average price is $123.44. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 19.19 and a beta of 0.44. Palomar Holdings, Inc. has a 12-month low of $107.01 and a 12-month high of $175.85.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PLMR. Wall Street Zen upgraded shares of Palomar from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Weiss Ratings upgraded Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, January 14th. JPMorgan Chase & Co. lifted 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. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Palomar from $170.00 to $171.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.