Deutsche Bank AG Boosts Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Deutsche Bank AG lifted its stake in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 156.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,319 shares of the company's stock after buying an additional 23,352 shares during the period. Deutsche Bank AG owned approximately 0.14% of Palomar worth $4,046,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Dakota Wealth Management grew its position in shares of Palomar by 3.1% in the 4th quarter. Dakota Wealth Management now owns 3,070 shares of the company's stock valued at $324,000 after buying an additional 92 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Palomar by 21.8% in the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company's stock valued at $58,000 after buying an additional 99 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Palomar by 0.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company's stock valued at $1,352,000 after buying an additional 100 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Palomar by 0.7% in the 4th quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company's stock valued at $1,588,000 after buying an additional 100 shares during the last quarter. Finally, Avantax Advisory Services Inc. grew its position in shares of Palomar by 2.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 5,837 shares of the company's stock valued at $616,000 after buying an additional 145 shares during the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Palomar Stock Performance

PLMR stock opened at $161.17 on Tuesday. Palomar Holdings, Inc. has a one year low of $77.28 and a one year high of $165.00. The stock has a market capitalization of $4.31 billion, a PE ratio of 35.98 and a beta of 0.51. The company has a fifty day moving average of $144.50 and a 200-day moving average of $122.22.

Palomar (NASDAQ:PLMR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.61 by $0.26. Palomar had a net margin of 21.23% and a return on equity of 19.76%. The company had revenue of $174.63 million during the quarter, compared to analysts' expectations of $161.97 million. During the same quarter last year, the business earned $1.09 EPS. Equities analysts forecast that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Insider Transactions at Palomar

In other news, CFO T Christopher Uchida sold 1,000 shares of the firm's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the sale, the chief financial officer now owns 10,172 shares in the company, valued at approximately $1,413,908. This trade represents a 8.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mac Armstrong sold 5,000 shares of the firm's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $145.41, for a total transaction of $727,050.00. Following the completion of the sale, the chief executive officer now owns 397,388 shares of the company's stock, valued at $57,784,189.08. This trade represents a 1.24% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,702 shares of company stock worth $2,375,444. Company insiders own 3.70% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Truist Financial increased their target price on shares of Palomar from $150.00 to $178.00 and gave the company a "buy" rating in a research report on Tuesday, April 15th. Jefferies Financial Group raised their price objective on shares of Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods lowered their price objective on shares of Palomar from $155.00 to $145.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. 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 shares of Palomar from $133.00 to $150.00 and gave the stock 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 issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $148.33.

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.

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