Emerald Advisers LLC Has $45.94 Million Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Emerald Advisers LLC reduced its stake in Palomar Holdings, Inc. (NASDAQ:PLMR) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 435,043 shares of the company’s stock after selling 14,930 shares during the period. Palomar makes up approximately 1.8% of Emerald Advisers LLC’s investment portfolio, making the stock its 7th biggest position. Emerald Advisers LLC owned about 1.64% of Palomar worth $45,936,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in PLMR. Natixis Advisors LLC bought a new stake in shares of Palomar in the third quarter valued at approximately $1,007,000. Thrivent Financial for Lutherans lifted its stake in Palomar by 58.7% during the third quarter. Thrivent Financial for Lutherans now owns 32,837 shares of the company’s stock worth $3,109,000 after purchasing an additional 12,147 shares during the last quarter. Quest Partners LLC lifted its stake in Palomar by 1,122.5% during the third quarter. Quest Partners LLC now owns 4,181 shares of the company’s stock worth $396,000 after purchasing an additional 3,839 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Palomar during the third quarter worth $371,000. Finally, Moran Wealth Management LLC bought a new stake in Palomar during the third quarter worth $547,000. 90.25% of the stock is currently owned by institutional investors.

Palomar Stock Down 1.1 %

NASDAQ PLMR opened at $129.32 on Friday. The stock has a fifty day simple moving average of $118.05 and a 200 day simple moving average of $106.71. Palomar Holdings, Inc. has a twelve month low of $74.09 and a twelve month high of $136.90. The company has a market capitalization of $3.45 billion, a price-to-earnings 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 for the quarter, topping analysts’ consensus estimates of $1.24 by $0.13. Palomar had a return on equity of 19.76% and a net margin of 21.23%. Research analysts expect that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PLMR. Keefe, Bruyette & Woods upped their target price on Palomar from $152.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday. Piper Sandler upped their target price on Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. JMP Securities restated a “market perform” rating on shares of Palomar in a research note on Thursday, February 13th. Finally, Truist Financial increased their price target on Palomar from $112.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Palomar presently has an average rating of “Moderate Buy” and an average target price of $127.83.

Insiders Place Their Bets

In other news, President Jon Christianson sold 819 shares of the firm’s stock in a transaction dated Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total value of $86,699.34. Following the completion of the sale, the president now directly owns 55,126 shares in the company, valued at $5,835,638.36. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Angela L. Grant sold 1,505 shares of the firm’s stock in a transaction dated Wednesday, January 1st. The shares were 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 approximately $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. Company 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.