Handelsbanken Fonder AB Purchases 1,000 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Handelsbanken Fonder AB grew its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 0.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,267 shares of the company’s stock after purchasing an additional 1,000 shares during the period. Handelsbanken Fonder AB owned approximately 0.96% of Palomar worth $22,651,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PLMR. Artemis Investment Management LLP bought a new position in Palomar in the 1st quarter worth about $20,904,000. Victory Capital Management Inc. raised its stake in Palomar by 1,634.6% in the second quarter. Victory Capital Management Inc. now owns 177,678 shares of the company’s stock valued at $14,419,000 after purchasing an additional 167,435 shares in the last quarter. F M Investments LLC bought a new stake in Palomar during the second quarter valued at approximately $11,946,000. Allspring Global Investments Holdings LLC grew its stake in Palomar by 214.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 165,685 shares of the company’s stock worth $13,445,000 after buying an additional 112,996 shares in the last quarter. Finally, Atlas Capital Advisors LLC increased its holdings in shares of Palomar by 167.7% in the 2nd quarter. Atlas Capital Advisors LLC now owns 137,284 shares of the company’s stock worth $11,141,000 after buying an additional 86,000 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Palomar Stock Up 5.8 %

Shares of NASDAQ PLMR traded up $5.60 during midday trading on Friday, reaching $102.88. The company had a trading volume of 198,997 shares, compared to its average volume of 165,603. The stock has a market cap of $2.56 billion, a PE ratio of 29.56 and a beta of 0.33. Palomar Holdings, Inc. has a one year low of $48.08 and a one year high of $103.40. The firm’s fifty day moving average price is $94.77 and its 200-day moving average price is $86.92.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings data on Monday, August 5th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.16. Palomar had a return on equity of 20.83% and a net margin of 21.63%. The firm had revenue of $123.08 million during the quarter, compared to the consensus estimate of $338.74 million. During the same quarter in the previous year, the company posted $0.72 earnings per share. The business’s revenue was up 47.0% on a year-over-year basis. As a group, equities research analysts expect that Palomar Holdings, Inc. will post 4.37 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PLMR. Keefe, Bruyette & Woods lifted their price objective on shares of Palomar from $96.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Piper Sandler upped their price objective on Palomar from $99.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Evercore ISI increased their price objective on Palomar from $90.00 to $99.00 and gave the company an “in-line” rating in a research report on Tuesday, August 6th. Truist Financial boosted their target price on Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Palomar from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $101.33.

Insider Buying and Selling at Palomar

In other Palomar news, President Jon Christianson sold 2,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $91.35, for a total value of $182,700.00. Following the transaction, the president now owns 51,761 shares in the company, valued at approximately $4,728,367.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Jon Christianson sold 2,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $91.35, for a total value of $182,700.00. Following the completion of the sale, the president now owns 51,761 shares of the company’s stock, valued at $4,728,367.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mac Armstrong sold 12,227 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $91.08, for a total transaction of $1,113,635.16. Following the transaction, the chief executive officer now directly owns 47,082 shares in the company, valued at approximately $4,288,228.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,500 shares of company stock valued at $4,464,266 in the last quarter. Company insiders own 4.30% of the company’s stock.

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.