Handelsbanken Fonder AB Has $31.18 Million Position in Palomar Holdings, Inc. $PLMR

Handelsbanken Fonder AB reduced its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 19.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,346 shares of the company's stock after selling 56,800 shares during the period. Handelsbanken Fonder AB owned 0.87% of Palomar worth $31,176,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. ProShare Advisors LLC raised its holdings in Palomar by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 5,130 shares of the company's stock valued at $691,000 after buying an additional 155 shares in the last quarter. HighTower Advisors LLC raised its holdings in Palomar by 652.7% during the fourth quarter. HighTower Advisors LLC now owns 17,613 shares of the company's stock valued at $2,374,000 after buying an additional 15,273 shares in the last quarter. Abacus Wealth Partners LLC bought a new position in Palomar during the fourth quarter valued at about $391,000. Stephens Investment Management Group LLC raised its holdings in Palomar by 19.8% during the fourth quarter. Stephens Investment Management Group LLC now owns 694,317 shares of the company's stock valued at $93,566,000 after buying an additional 114,859 shares in the last quarter. Finally, AlphaCore Capital LLC bought a new position in Palomar during the fourth quarter valued at about $206,000. 90.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen lowered Palomar from a "buy" rating to a "hold" rating in a report on Sunday, March 1st. Keefe, Bruyette & Woods cut their target price on Palomar from $186.00 to $159.00 and set an "outperform" rating on the stock in a report on Wednesday, May 13th. Piper Sandler cut their target price on Palomar from $151.00 to $132.00 and set an "overweight" rating on the stock in a report on Monday, May 11th. Evercore assumed coverage on Palomar in a report on Monday, February 9th. They set an "outperform" rating and a $150.00 target price on the stock. Finally, Weiss Ratings lowered Palomar from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, May 7th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $150.25.

Palomar Stock Down 1.0%

PLMR stock opened at $113.42 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.49 and a quick ratio of 0.49. Palomar Holdings, Inc. has a 52-week low of $107.51 and a 52-week high of $175.85. The company has a 50-day moving average of $121.08 and a two-hundred day moving average of $124.52. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 15.80 and a beta of 0.49.

Palomar (NASDAQ:PLMR - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.17 by $0.14. Palomar had a return on equity of 22.62% and a net margin of 20.11%.The business had revenue of $278.94 million for the quarter, compared to the consensus estimate of $557.79 million. During the same period last year, the business earned $1.87 earnings per share. The firm's revenue for the quarter was up 59.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Palomar Holdings, Inc. will post 9.02 EPS for the current year.

Insider Transactions at Palomar

In related news, CEO Mac Armstrong sold 3,500 shares of Palomar stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $130.77, for a total transaction of $457,695.00. Following the sale, the chief executive officer directly owned 336,388 shares of the company's stock, valued at $43,989,458.76. This trade represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Jon Christianson sold 1,937 shares of Palomar stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $128.62, for a total value of $249,136.94. Following the sale, the president directly owned 65,919 shares in the company, valued at approximately $8,478,501.78. This trade represents a 2.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 15,134 shares of company stock worth $1,917,746. 3.70% of the stock is owned by company insiders.

About Palomar

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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