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

Emerald Advisers LLC trimmed its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 1.77% of Palomar worth $35,817,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Arizona State Retirement System increased its stake in Palomar by 2.4% in the second quarter. Arizona State Retirement System now owns 6,961 shares of the company's stock valued at $565,000 after acquiring an additional 164 shares during the last quarter. CWM LLC grew its stake in shares of Palomar by 15.7% during the second quarter. CWM LLC now owns 1,601 shares of the company's stock worth $130,000 after buying an additional 217 shares during the last quarter. Covestor Ltd grew its stake in shares of Palomar by 29.0% during the first quarter. Covestor Ltd now owns 1,183 shares of the company's stock worth $99,000 after buying an additional 266 shares during the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of Palomar by 1.0% during the first quarter. Conestoga Capital Advisors LLC now owns 27,407 shares of the company's stock worth $2,298,000 after buying an additional 270 shares during the last quarter. Finally, Texas Permanent School Fund Corp grew its stake in shares of Palomar by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 21,644 shares of the company's stock worth $1,814,000 after buying an additional 280 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Palomar

In other Palomar news, CFO T Christopher Uchida sold 1,750 shares of the firm's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $99.00, for a total value of $173,250.00. Following the sale, the chief financial officer now owns 20,594 shares of the company's stock, valued at approximately $2,038,806. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO T Christopher Uchida sold 1,750 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $99.00, for a total transaction of $173,250.00. Following the transaction, the chief financial officer now owns 20,594 shares in the company, valued at $2,038,806. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mac Armstrong sold 7,000 shares of the business's stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $78.51, for a total transaction of $549,570.00. Following the transaction, the chief executive officer now owns 454,388 shares in the company, valued at approximately $35,674,001.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,500 shares of company stock valued at $3,644,146. Insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PLMR. Truist Financial boosted their target price on shares of Palomar from $100.00 to $112.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. Keefe, Bruyette & Woods boosted their price objective on shares of Palomar from $96.00 to $113.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. boosted their target price on shares of Palomar from $88.00 to $91.00 and gave the company a "neutral" rating in a report on Thursday, July 11th. Piper Sandler boosted their target price on shares of Palomar from $99.00 to $105.00 and gave the company an "overweight" rating in a report on Wednesday, August 7th. Finally, Evercore ISI boosted their target price on shares of Palomar from $90.00 to $99.00 and gave the company an "in-line" rating in a report on Tuesday, August 6th. Three 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $101.33.

Palomar Stock Performance

NASDAQ PLMR traded down $1.57 on Friday, hitting $94.51. The stock had a trading volume of 123,860 shares, compared to its average volume of 164,841. Palomar Holdings, Inc. has a 52-week low of $48.08 and a 52-week high of $100.29. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 27.16 and a beta of 0.34. The firm has a 50-day moving average of $91.07 and a 200-day moving average of $84.20.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings data on Monday, August 5th. The company reported $1.25 earnings per share 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 firm had revenue of $123.08 million for the quarter, compared to analysts' expectations of $338.74 million. During the same quarter last year, the company posted $0.72 EPS. The business's quarterly revenue was up 47.0% on a year-over-year basis. As a group, research analysts anticipate that Palomar Holdings, Inc. will post 4.37 earnings per share for the current fiscal year.

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.