Palomar Holdings, Inc. (NASDAQ:PLMR) is Emerald Advisers LLC's 7th Largest Position

Emerald Advisers LLC lowered its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 3.3% during the 4th quarter, according to its most recent filing with the SEC. 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 holdings, making the stock its 7th biggest position. Emerald Advisers LLC owned approximately 1.64% of Palomar worth $45,936,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Blue Trust Inc. purchased a new position in shares of Palomar during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC raised its stake in Palomar by 536.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock valued at $43,000 after buying an additional 349 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of 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 buying an additional 191 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Palomar by 21.8% during the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company's stock valued at $58,000 after buying an additional 99 shares during the period. Finally, KBC Group NV boosted its stake in shares of Palomar by 44.9% in 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 during the last quarter. Institutional investors own 90.25% of the company's stock.

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Wall Street Analyst Weigh In

A number of analysts recently commented on PLMR shares. Piper Sandler upped 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 upped their price target on shares of Palomar from $152.00 to $155.00 and gave the company an "outperform" rating in a research report on Friday, March 21st. JMP Securities reissued a "market perform" rating on shares of Palomar in a report on Thursday, February 13th. Finally, Truist Financial boosted their target price on shares of Palomar from $112.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Palomar presently has a consensus rating of "Moderate Buy" and an average target price of $127.83.

Palomar Trading Up 1.6 %

Palomar stock traded up $2.20 during midday trading on Thursday, hitting $136.60. The stock had a trading volume of 135,289 shares, compared to its average volume of 161,950. Palomar Holdings, Inc. has a 52-week low of $74.09 and a 52-week high of $137.89. The company has a market capitalization of $3.64 billion, a PE ratio of 30.49 and a beta of 0.33. The firm's fifty day moving average is $120.41 and its two-hundred day moving average is $107.73.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share 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 research analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO T Christopher Uchida sold 394 shares of the business's stock in a transaction dated Sunday, January 26th. The stock was sold at an average price of $101.69, for a total value of $40,065.86. Following the sale, the chief financial officer now directly owns 16,943 shares in the company, valued at approximately $1,722,933.67. The trade was a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mac Armstrong sold 7,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $109.76, for a total value of $768,320.00. Following the transaction, the chief executive officer now owns 412,388 shares of the company's stock, valued at $45,263,706.88. This represents a 1.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,455 shares of company stock worth $3,911,340. 4.30% of the stock is owned by insiders.

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.