Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its stake in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 244,602 shares of the company's stock after purchasing an additional 5,335 shares during the quarter. Handelsbanken Fonder AB owned 0.92% of Palomar worth $25,828,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PLMR. State Street Corp increased its holdings in Palomar by 3.0% in the third quarter. State Street Corp now owns 1,097,702 shares of the company's stock valued at $103,919,000 after buying an additional 32,151 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Palomar by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 600,092 shares of the company's stock worth $56,822,000 after acquiring an additional 18,335 shares during the period. Artemis Investment Management LLP increased its stake in Palomar by 18.7% in the 4th quarter. Artemis Investment Management LLP now owns 455,082 shares of the company's stock valued at $48,052,000 after purchasing an additional 71,806 shares in the last quarter. Emerald Advisers LLC raised its holdings in Palomar by 1.9% during the third quarter. Emerald Advisers LLC now owns 449,973 shares of the company's stock worth $42,599,000 after purchasing an additional 8,601 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in Palomar by 24.5% during the third quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company's stock worth $37,339,000 after purchasing an additional 77,552 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

Insider Buying and Selling

In other Palomar news, CEO Mac Armstrong sold 7,000 shares of Palomar stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $103.04, for a total value of $721,280.00. Following the transaction, the chief executive officer now owns 419,388 shares in the company, valued at $43,213,739.52. This trade represents a 1.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO T Christopher Uchida sold 552 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $123.26, for a total value of $68,039.52. Following the sale, the chief financial officer now owns 15,683 shares of the company's stock, valued at approximately $1,933,086.58. The trade was a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,485 shares of company stock worth $4,098,195. 4.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Piper Sandler lifted their price target on Palomar from $133.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Truist Financial lifted their target price on shares of Palomar from $112.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. JMP Securities reaffirmed a "market perform" rating on shares of Palomar in a report on Thursday, February 13th. JPMorgan Chase & Co. raised their price objective on shares of Palomar from $93.00 to $100.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods upped their target price on Palomar from $136.00 to $152.00 and gave the company an "outperform" rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Palomar has an average rating of "Moderate Buy" and a consensus price target of $127.33.

Palomar Stock Down 1.4 %

Shares of PLMR traded down $1.69 on Friday, hitting $119.07. 179,560 shares of the stock traded hands, compared to its average volume of 172,690. The firm has a market capitalization of $3.15 billion, a P/E ratio of 26.58 and a beta of 0.38. Palomar Holdings, Inc. has a 1 year low of $71.54 and a 1 year high of $128.38. The stock's 50 day moving average is $108.89 and its two-hundred day moving average is $101.86.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $0.13. Palomar had a return on equity of 19.76% and a net margin of 21.23%. Research analysts forecast that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Palomar Company Profile

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.