Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Sold by Emerald Advisers LLC

Emerald Advisers LLC cut its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 441,372 shares of the company’s stock after selling 8,617 shares during the period. Palomar accounts for 1.5% of Emerald Advisers LLC’s holdings, making the stock its 14th largest position. Emerald Advisers LLC owned about 1.77% of Palomar worth $35,817,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PLMR. Gallacher Capital Management LLC purchased a new position in shares of Palomar during the second quarter worth $309,000. Arizona State Retirement System boosted its holdings in shares of Palomar by 2.4% in the 2nd quarter. Arizona State Retirement System now owns 6,961 shares of the company’s stock valued at $565,000 after buying an additional 164 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Palomar by 1,634.6% during the second quarter. Victory Capital Management Inc. now owns 177,678 shares of the company’s stock worth $14,419,000 after purchasing an additional 167,435 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Palomar by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 68,490 shares of the company’s stock valued at $5,558,000 after purchasing an additional 947 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in Palomar in the 2nd quarter valued at $49,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Insider Transactions at Palomar

In other news, CFO T Christopher Uchida sold 1,000 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $80.32, for a total value of $80,320.00. Following the sale, the chief financial officer now directly owns 24,094 shares of the company’s stock, valued at approximately $1,935,230.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, President Jon Christianson sold 2,000 shares of Palomar stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $91.35, for a total transaction of $182,700.00. Following the completion of the transaction, the president now owns 51,761 shares of the company’s stock, valued at $4,728,367.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO T Christopher Uchida sold 1,000 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $80.32, for a total value of $80,320.00. Following the completion of the transaction, the chief financial officer now owns 24,094 shares in the company, valued at $1,935,230.08. The disclosure for this sale can be found here. Insiders have sold a total of 41,500 shares of company stock valued at $3,644,146 over the last 90 days. 4.30% of the stock is owned by corporate insiders.

Palomar Stock Down 1.6 %

PLMR stock opened at $94.51 on Friday. The business’s 50-day simple moving average is $91.07 and its 200 day simple moving average is $84.20. Palomar Holdings, Inc. has a twelve month low of $48.08 and a twelve month high of $100.29. The company has a market cap of $2.36 billion, a PE ratio of 27.16 and a beta of 0.34.

Palomar (NASDAQ:PLMR) last released its quarterly earnings results on Monday, August 5th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.09 by $0.16. Palomar had a net margin of 21.63% and a return on equity of 20.83%. The business had revenue of $123.08 million for the quarter, compared to analysts’ expectations of $338.74 million. During the same period in the prior year, the firm earned $0.72 earnings per share. Palomar’s revenue was up 47.0% compared to the same quarter last year. On average, equities research analysts anticipate that Palomar Holdings, Inc. will post 4.37 EPS for the current year.

Analysts Set New Price Targets

PLMR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Palomar from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Truist Financial increased their price target on shares of Palomar from $100.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Piper Sandler boosted their price target on Palomar from $99.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Keefe, Bruyette & Woods upped their price objective on shares of Palomar from $96.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Finally, Evercore ISI lifted their price target on Palomar from $90.00 to $99.00 and gave the company an “in-line” rating in a report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Palomar has a consensus rating of “Moderate Buy” and a consensus price target of $101.33.

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.