Handelsbanken Fonder AB Has $18.78 Million Holdings in Palomar Holdings, Inc. $PLMR

Handelsbanken Fonder AB decreased its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 12.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 148,559 shares of the company’s stock after selling 20,389 shares during the quarter. Handelsbanken Fonder AB owned about 0.56% of Palomar worth $18,776,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of PLMR. Royal Bank of Canada lifted its position in shares of Palomar by 49.1% during the 1st quarter. Royal Bank of Canada now owns 2,956 shares of the company’s stock valued at $406,000 after acquiring an additional 974 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Palomar by 5.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,427 shares of the company’s stock valued at $2,115,000 after purchasing an additional 791 shares in the last quarter. NewEdge Advisors LLC bought a new stake in Palomar in the first quarter valued at $66,000. United Services Automobile Association acquired a new position in shares of Palomar during the first quarter valued at about $223,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Palomar by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,661 shares of the company’s stock valued at $9,960,000 after purchasing an additional 7,754 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Insider Buying and Selling

In other Palomar news, President Jon Christianson sold 3,000 shares of the firm’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $139.50, for a total transaction of $418,500.00. Following the transaction, the president directly owned 66,478 shares in the company, valued at approximately $9,273,681. This trade represents a 4.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Rodolphe Herve sold 1,207 shares of Palomar stock in a transaction on Friday, July 31st. The stock was sold at an average price of $135.35, for a total transaction of $163,367.45. Following the transaction, the chief operating officer directly owned 3,548 shares in the company, valued at $480,221.80. This represents a 25.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 22,050 shares of company stock valued at $2,875,050. 3.70% of the stock is owned by corporate insiders.

Palomar Stock Down 3.2%

Shares of NASDAQ PLMR opened at $127.54 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.50 and a quick ratio of 0.50. The company has a 50-day moving average price of $128.25 and a 200-day moving average price of $123.70. The stock has a market capitalization of $3.36 billion, a P/E ratio of 17.14 and a beta of 0.40. Palomar Holdings, Inc. has a 1 year low of $100.81 and a 1 year high of $147.62.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.17. The business had revenue of $314.42 million for the quarter, compared to analysts’ expectations of $621.52 million. Palomar had a net margin of 18.61% and a return on equity of 23.28%. During the same quarter last year, the firm earned $1.76 EPS. On average, equities research analysts forecast that Palomar Holdings, Inc. will post 9.06 EPS for the current fiscal year.

Palomar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be issued a dividend of $0.45 per share. The ex-dividend date is Wednesday, August 19th. This represents a $1.80 annualized dividend and a yield of 1.4%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PLMR shares. Weiss Ratings upgraded Palomar from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 18th. JPMorgan Chase & Co. upped their price target on Palomar from $150.00 to $167.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Evercore set a $152.00 price target on Palomar in a report on Friday, July 10th. Keefe, Bruyette & Woods raised their price objective on Palomar from $166.00 to $167.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Piper Sandler boosted their price objective on Palomar from $132.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $162.75.

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.