Danske Bank A S Boosts Holdings in Palomar Holdings, Inc. $PLMR

Key Points

• Danske Bank A/S boosted its stake in Palomar by 69.9% in Q4, owning 138,295 shares (about 0.52% of the company) valued at roughly $18.64 million.
• Palomar beat expectations in its last quarter with EPS $2.24 vs. $2.06 and revenue $253.36M vs. $204.58M (revenue up 62.7%), and analysts hold an average "Buy" rating with a $161.75 average price target.
• Institutional investors own 90.25% of Palomar, led by Vanguard which holds about 2.7 million shares valued at ~$363.6 million.

Danske Bank A S grew its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 69.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 138,295 shares of the company's stock after purchasing an additional 56,898 shares during the period. Danske Bank A S owned approximately 0.52% of Palomar worth $18,637,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Conestoga Capital Advisors LLC raised its stake in shares of Palomar by 17.3% during the fourth quarter. Conestoga Capital Advisors LLC now owns 20,635 shares of the company's stock valued at $2,781,000 after purchasing an additional 3,050 shares during the period. PVG Asset Management Corp purchased a new stake in shares of Palomar during the fourth quarter valued at approximately $218,000. Pictet Asset Management Holding SA grew its position in shares of Palomar by 10.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 4,440 shares of the company's stock worth $598,000 after buying an additional 408 shares in the last quarter. Kickstand Ventures LLC. acquired a new stake in shares of Palomar during the fourth quarter worth approximately $315,000. Finally, Vanguard Group Inc. grew its position in shares of Palomar by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 2,698,278 shares of the company's stock worth $363,620,000 after buying an additional 67,038 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of Palomar from $183.00 to $186.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 7th. Zacks Research raised shares of Palomar from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 16th. Wall Street Zen downgraded shares of Palomar from a "buy" rating to a "hold" rating in a research report on Sunday, March 1st. JPMorgan Chase & Co. raised their price target on shares of Palomar from $155.00 to $160.00 and gave the stock an "overweight" rating in a research report on Monday, February 23rd. Finally, Evercore assumed coverage on shares of Palomar in a research report on Monday, February 9th. They set an "outperform" rating and a $150.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $161.75.

Palomar Trading Up 0.5%

PLMR stock opened at $120.97 on Friday. Palomar Holdings, Inc. has a twelve month low of $107.75 and a twelve month high of $175.85. The company has a market capitalization of $3.21 billion, a P/E ratio of 16.85 and a beta of 0.49. The firm has a 50 day simple moving average of $123.79 and a 200-day simple moving average of $124.70.

Palomar (NASDAQ:PLMR - Get Free Report) last released its quarterly earnings data on Wednesday, February 11th. The company reported $2.24 EPS for the quarter, topping analysts' consensus estimates of $2.06 by $0.18. The firm had revenue of $253.36 million during the quarter, compared to the consensus estimate of $204.58 million. Palomar had a net margin of 22.50% and a return on equity of 22.77%. The firm's revenue was up 62.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.52 earnings per share. On average, research analysts predict that Palomar Holdings, Inc. will post 8.97 EPS for the current year.

Insider Buying and Selling at Palomar

In other Palomar news, insider Jonathan Knutzen sold 281 shares of Palomar stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $128.04, for a total value of $35,979.24. Following the completion of the transaction, the insider owned 27,579 shares of the company's stock, valued at $3,531,215.16. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO T Christopher Uchida sold 783 shares of Palomar stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $128.04, for a total transaction of $100,255.32. Following the completion of the transaction, the chief financial officer directly owned 14,752 shares of the company's stock, valued at approximately $1,888,846.08. This represents a 5.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 21,720 shares of company stock worth $2,733,817. Company insiders own 3.70% of the company's stock.

Palomar Company Profile

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.

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