Emerald Advisers LLC Reduces Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Emerald Advisers LLC decreased its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR) by 3.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 435,043 shares of the company’s stock after selling 14,930 shares during the quarter. Palomar accounts for 1.8% of Emerald Advisers LLC’s investment portfolio, making the stock its 7th biggest holding. Emerald Advisers LLC’s holdings in Palomar were worth $45,936,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PLMR. Blue Trust Inc. bought a new position in Palomar in the 4th quarter valued at about $26,000. Smartleaf Asset Management LLC lifted its position in Palomar by 536.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 414 shares of the company’s stock valued at $43,000 after acquiring an additional 349 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Palomar by 63.2% in the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company’s stock valued at $52,000 after acquiring an additional 191 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Palomar by 21.8% during the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company’s stock worth $58,000 after buying an additional 99 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Palomar by 44.9% during the 4th quarter. KBC Group NV now owns 1,045 shares of the company’s stock worth $110,000 after buying an additional 324 shares in the last quarter. Institutional investors own 90.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Palomar from $152.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday. Piper Sandler lifted their target price 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. Truist Financial lifted their target price on shares of Palomar from $112.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, JMP Securities reissued a “market perform” rating on shares of Palomar in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Palomar has a consensus rating of “Moderate Buy” and a consensus price target of $127.83.

Palomar Stock Down 1.1 %

Shares of PLMR stock opened at $129.32 on Friday. The company has a 50 day moving average of $118.05 and a 200-day moving average of $106.71. Palomar Holdings, Inc. has a 12-month low of $74.09 and a 12-month high of $136.90. The firm has a market cap of $3.45 billion, a P/E ratio of 28.87 and a beta of 0.33.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. As a group, equities analysts expect that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Insider Activity at Palomar

In related news, President Jon Christianson sold 819 shares of Palomar stock in a transaction that occurred on Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total value of $86,699.34. Following the completion of the transaction, the president now directly owns 55,126 shares in the company, valued at approximately $5,835,638.36. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela L. Grant sold 1,505 shares of Palomar stock in a transaction that occurred on Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total transaction of $159,319.30. Following the completion of the transaction, the insider now owns 2,534 shares of the company’s stock, valued at $268,249.24. This represents a 37.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,455 shares of company stock worth $4,632,620. Corporate insiders own 4.30% of the company’s stock.

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.