Deutsche Bank AG Has $4.96 Million Stock Position in Palomar Holdings, Inc. $PLMR

Deutsche Bank AG lowered its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 5.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,196 shares of the company's stock after selling 2,123 shares during the quarter. Deutsche Bank AG owned 0.14% of Palomar worth $4,962,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its position in Palomar by 185.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 311 shares of the company's stock worth $43,000 after acquiring an additional 202 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Palomar in the 1st quarter valued at approximately $46,000. TCTC Holdings LLC boosted its holdings in shares of Palomar by 116.5% in the 1st quarter. TCTC Holdings LLC now owns 381 shares of the company's stock valued at $52,000 after buying an additional 205 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of Palomar in the 1st quarter valued at approximately $53,000. Finally, USA Financial Formulas acquired a new stake in shares of Palomar in the 1st quarter valued at approximately $55,000. Institutional investors and hedge funds own 90.25% of the company's stock.

Palomar Price Performance

Shares of Palomar stock opened at $120.26 on Monday. The business has a fifty day simple moving average of $141.23 and a two-hundred day simple moving average of $140.57. Palomar Holdings, Inc. has a 1 year low of $85.00 and a 1 year high of $175.85. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 21.14 and a beta of 0.44.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $1.76 earnings per share for the quarter, topping analysts' consensus estimates of $1.68 by $0.08. Palomar had a return on equity of 20.35% and a net margin of 22.71%. The company had revenue of $496.29 million during the quarter, compared to the consensus estimate of $173.86 million. During the same quarter last year, the firm earned $1.25 earnings per share. The company's revenue was up 47.6% on a year-over-year basis. As a group, equities analysts anticipate that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Insider Transactions at Palomar

In related news, COO Rodolphe Herve sold 1,130 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $130.10, for a total value of $147,013.00. Following the transaction, the chief operating officer owned 807 shares in the company, valued at approximately $104,990.70. This trade represents a 58.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Timothy Carter sold 473 shares of the firm's stock in a transaction on Saturday, June 28th. The stock was sold at an average price of $153.65, for a total value of $72,676.45. Following the completion of the transaction, the insider owned 361 shares in the company, valued at $55,467.65. The trade was a 56.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,294 shares of company stock worth $3,208,102 over the last ninety days. Corporate insiders own 3.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PLMR. Piper Sandler cut their price objective on Palomar from $177.00 to $151.00 and set an "overweight" rating for the company in a report on Wednesday, August 6th. Wall Street Zen downgraded Palomar from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Keefe, Bruyette & Woods cut their price objective on Palomar from $204.00 to $172.00 and set an "outperform" rating for the company in a report on Friday, August 8th. JPMorgan Chase & Co. cut their price objective on Palomar from $170.00 to $158.00 and set an "overweight" rating for the company in a report on Monday, August 11th. Finally, Evercore ISI increased their price objective on Palomar from $163.00 to $168.00 and gave the company an "in-line" rating in a report on Friday, May 30th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Palomar has a consensus rating of "Moderate Buy" and a consensus target price of $165.83.

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.

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