Emerald Advisers LLC Has $42.60 Million Stake in Palomar Holdings, Inc. (NASDAQ:PLMR)

Emerald Advisers LLC lifted its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 449,973 shares of the company’s stock after purchasing an additional 8,601 shares during the quarter. Palomar accounts for about 1.7% of Emerald Advisers LLC’s portfolio, making the stock its 11th biggest position. Emerald Advisers LLC’s holdings in Palomar were worth $42,599,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PLMR. Janney Montgomery Scott LLC bought a new stake in Palomar during the first quarter worth $602,000. Picton Mahoney Asset Management increased its stake in shares of Palomar by 1,940.6% in the 1st quarter. Picton Mahoney Asset Management now owns 39,690 shares of the company’s stock valued at $3,329,000 after purchasing an additional 37,745 shares during the last quarter. Quadrature Capital Ltd lifted its holdings in shares of Palomar by 155.9% in the first quarter. Quadrature Capital Ltd now owns 22,773 shares of the company’s stock worth $1,906,000 after acquiring an additional 13,873 shares during the last quarter. Driehaus Capital Management LLC boosted its position in Palomar by 17.1% in the second quarter. Driehaus Capital Management LLC now owns 300,213 shares of the company’s stock valued at $24,362,000 after buying an additional 43,841 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Palomar by 1,634.6% in the 2nd 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 in the last quarter. Institutional investors own 90.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Palomar from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Piper Sandler upped their price target on Palomar from $99.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Palomar from $96.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Jefferies Financial Group increased their price target on Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI lifted their target price on shares of Palomar from $90.00 to $99.00 and gave the stock an “in-line” rating in a research report on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.50.

Insider Buying and Selling

In related news, CEO Mac Armstrong sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $96.28, for a total value of $673,960.00. Following the completion of the sale, the chief executive officer now owns 433,388 shares in the company, valued at approximately $41,726,596.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Thomas A. Bradley purchased 1,000 shares of Palomar stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average cost of $89.42 per share, for a total transaction of $89,420.00. Following the completion of the transaction, the director now owns 4,724 shares in the company, valued at $422,420.08. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Mac Armstrong sold 7,000 shares of Palomar stock in a transaction on Monday, October 21st. The shares were sold at an average price of $96.28, for a total transaction of $673,960.00. Following the completion of the transaction, the chief executive officer now directly owns 433,388 shares of the company’s stock, valued at $41,726,596.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,520 shares of company stock worth $3,626,486. Corporate insiders own 4.30% of the company’s stock.

Palomar Price Performance

Palomar stock traded down $1.39 during mid-day trading on Friday, reaching $88.38. 154,769 shares of the stock traded hands, compared to its average volume of 126,864. The business’s 50-day moving average is $95.65 and its 200-day moving average is $88.91. The stock has a market capitalization of $2.21 billion, a PE ratio of 23.32 and a beta of 0.34. Palomar Holdings, Inc. has a 12-month low of $54.50 and a 12-month high of $103.40.

Palomar (NASDAQ:PLMR) last released its earnings results on Monday, August 5th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.16. The company had revenue of $123.08 million for the quarter, compared to analysts’ expectations of $338.74 million. Palomar had a net margin of 21.63% and a return on equity of 20.83%. The firm’s revenue was up 47.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 EPS. Equities analysts anticipate that Palomar Holdings, Inc. will post 4.35 EPS for the current fiscal year.

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.