Deutsche Bank AG Purchases 23,352 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Deutsche Bank AG increased its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 156.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,319 shares of the company's stock after acquiring an additional 23,352 shares during the quarter. Deutsche Bank AG owned about 0.14% of Palomar worth $4,046,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dakota Wealth Management lifted its stake in Palomar by 3.1% in the fourth quarter. Dakota Wealth Management now owns 3,070 shares of the company's stock worth $324,000 after acquiring an additional 92 shares during the period. Farther Finance Advisors LLC lifted its stake in Palomar by 21.8% in the fourth quarter. Farther Finance Advisors LLC now owns 554 shares of the company's stock worth $58,000 after acquiring an additional 99 shares during the period. Louisiana State Employees Retirement System lifted its stake in Palomar by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company's stock worth $1,352,000 after acquiring an additional 100 shares during the period. State of Alaska Department of Revenue lifted its stake in Palomar by 0.7% in the fourth quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company's stock worth $1,588,000 after acquiring an additional 100 shares during the period. Finally, Avantax Advisory Services Inc. lifted its stake in Palomar by 2.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,837 shares of the company's stock worth $616,000 after acquiring an additional 145 shares during the period. Hedge funds and other institutional investors own 90.25% of the company's stock.

Insider Activity

In related news, CEO Mac Armstrong sold 5,000 shares of Palomar stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $129.72, for a total value of $648,600.00. Following the completion of the sale, the chief executive officer now directly owns 402,388 shares in the company, valued at approximately $52,197,771.36. This trade represents a 1.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO T Christopher Uchida sold 500 shares of Palomar stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $153.04, for a total value of $76,520.00. Following the completion of the sale, the chief financial officer now owns 7,672 shares of the company's stock, valued at $1,174,122.88. The trade was a 6.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,202 shares of company stock worth $3,265,129 over the last three months. 3.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on PLMR shares. Keefe, Bruyette & Woods lowered their price objective on Palomar from $155.00 to $145.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Jefferies Financial Group raised their price objective on Palomar from $145.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Truist Financial raised their price objective on Palomar from $150.00 to $178.00 and gave the company a "buy" rating in a research report on Tuesday, April 15th. JMP Securities reissued a "market perform" rating on shares of Palomar in a research report on Thursday, February 13th. Finally, Piper Sandler raised their price objective on Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Palomar has an average rating of "Moderate Buy" and an average target price of $148.33.

Palomar Stock Up 1.1%

Shares of NASDAQ:PLMR traded up $1.74 on Friday, hitting $162.56. 211,195 shares of the company traded hands, compared to its average volume of 200,856. Palomar Holdings, Inc. has a 52 week low of $77.28 and a 52 week high of $165.00. The stock has a 50 day simple moving average of $146.91 and a 200-day simple moving average of $124.13. The company has a market cap of $4.35 billion, a PE ratio of 36.29 and a beta of 0.51.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.26. Palomar had a return on equity of 19.76% and a net margin of 21.23%. The firm had revenue of $174.63 million during the quarter, compared to the consensus estimate of $161.97 million. During the same period last year, the company earned $1.09 earnings per share. As a group, sell-side analysts anticipate that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

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.