Handelsbanken Fonder AB Purchases 3,070 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Handelsbanken Fonder AB grew its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 72.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,280 shares of the company’s stock after acquiring an additional 3,070 shares during the period. Handelsbanken Fonder AB’s holdings in Palomar were worth $404,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PLMR. Signaturefd LLC lifted its stake in shares of Palomar by 59.4% in the 4th quarter. Signaturefd LLC now owns 593 shares of the company’s stock valued at $33,000 after acquiring an additional 221 shares during the last quarter. Everence Capital Management Inc. bought a new position in Palomar during the 4th quarter worth $214,000. Dark Forest Capital Management LP bought a new position in Palomar during the 3rd quarter worth $273,000. Raymond James & Associates bought a new position in Palomar during the 4th quarter worth $293,000. Finally, PNC Financial Services Group Inc. raised its position in Palomar by 13.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,107 shares of the company’s stock worth $310,000 after purchasing an additional 720 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Palomar

In other Palomar news, CEO Mac Armstrong sold 7,000 shares of Palomar stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $80.03, for a total transaction of $560,210.00. Following the completion of the transaction, the chief executive officer now owns 468,388 shares in the company, valued at approximately $37,485,091.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Palomar news, CEO Mac Armstrong sold 7,000 shares of Palomar stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $80.03, for a total transaction of $560,210.00. Following the completion of the transaction, the chief executive officer now owns 468,388 shares in the company, valued at approximately $37,485,091.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Jon Christianson sold 2,000 shares of Palomar stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $76.30, for a total value of $152,600.00. Following the transaction, the president now owns 57,761 shares of the company’s stock, valued at approximately $4,407,164.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,250 shares of company stock worth $3,305,655. Insiders own 4.30% of the company’s stock.

Palomar Trading Up 0.5 %

PLMR stock opened at $79.04 on Thursday. The stock has a 50-day moving average price of $78.72 and a 200-day moving average price of $65.82. Palomar Holdings, Inc. has a 1-year low of $46.09 and a 1-year high of $86.25. The firm has a market cap of $1.97 billion, a PE ratio of 25.33 and a beta of 0.21.

Palomar (NASDAQ:PLMR) last issued its earnings results on Wednesday, February 14th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.85 by $0.09. The company had revenue of $102.35 million during the quarter, compared to the consensus estimate of $95.07 million. Palomar had a return on equity of 19.35% and a net margin of 21.07%. On average, analysts forecast that Palomar Holdings, Inc. will post 3.84 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on PLMR. JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a research report on Monday, April 15th. JPMorgan Chase & Co. lowered Palomar from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $79.00 to $85.00 in a research report on Monday, April 8th. Evercore ISI raised their target price on Palomar from $68.00 to $86.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Piper Sandler raised their target price on Palomar from $80.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Finally, Jefferies Financial Group raised Palomar from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $78.00 to $88.00 in a research report on Thursday, March 14th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $87.50.

About Palomar

Palomar Holdings, Inc, a specialty insurance company, provides property and casualty insurance to residential and businesses in the United States. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, fronting, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance.