Trillium Asset Management LLC Invests $4.60 Million in Palomar Holdings, Inc. (NASDAQ:PLMR)

Trillium Asset Management LLC acquired a new stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) during the 4th quarter, Holdings Channel reports. The fund acquired 43,557 shares of the company’s stock, valued at approximately $4,599,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PLMR. Blue Trust Inc. bought a new position in shares of Palomar in the fourth quarter worth approximately $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 boosted its stake in Palomar by 63.2% during the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company’s stock valued at $52,000 after purchasing an additional 191 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Palomar by 21.8% in the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company’s stock worth $58,000 after purchasing an additional 99 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Palomar by 44.9% in the fourth quarter. KBC Group NV now owns 1,045 shares of the company’s stock worth $110,000 after purchasing an additional 324 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO T Christopher Uchida sold 552 shares of Palomar stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $123.26, for a total transaction of $68,039.52. Following the transaction, the chief financial officer now owns 15,683 shares in the company, valued at approximately $1,933,086.58. The trade was a 3.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Angela L. Grant sold 1,505 shares of the stock in a transaction on Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total value of $159,319.30. Following the completion of the sale, the insider now owns 2,534 shares of the company’s stock, valued at $268,249.24. The trade was a 37.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,455 shares of company stock worth $3,984,020 over the last quarter. 4.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PLMR has been the topic of several recent analyst reports. Piper Sandler increased their price objective on Palomar from $133.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods raised their price target on shares of Palomar from $136.00 to $152.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. JMP Securities reissued a “market perform” rating on shares of Palomar in a report on Thursday, February 13th. Finally, Truist Financial raised their target price on shares of Palomar from $112.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $127.33.

Palomar Trading Down 0.6 %

PLMR opened at $129.42 on Thursday. Palomar Holdings, Inc. has a 12-month low of $74.09 and a 12-month high of $136.90. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 28.89 and a beta of 0.33. The company’s 50 day moving average is $116.99 and its 200 day moving average is $106.28.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, analysts predict that Palomar Holdings, Inc. will post 5.99 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.