Emerald Advisers LLC Boosts Stock Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Emerald Advisers LLC boosted its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 449,973 shares of the company's stock after buying an additional 8,601 shares during the period. Palomar accounts for about 1.7% of Emerald Advisers LLC's portfolio, making the stock its 11th largest holding. Emerald Advisers LLC owned 1.81% of Palomar worth $42,599,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. purchased a new stake in Palomar during the 3rd quarter worth approximately $25,000. GAMMA Investing LLC increased its stake in Palomar by 48.6% during the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company's stock worth $36,000 after buying an additional 125 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Palomar by 490.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company's stock worth $43,000 after buying an additional 378 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Palomar during the 2nd quarter worth approximately $49,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Palomar during the 1st quarter worth approximately $59,000. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Palomar news, CEO Mac Armstrong sold 7,000 shares of the company's stock in a transaction on Monday, October 21st. The stock was sold at an average price of $96.28, for a total transaction of $673,960.00. Following the transaction, the chief executive officer now directly owns 433,388 shares in the company, valued at $41,726,596.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, President Jon Christianson sold 3,805 shares of the company's stock in a transaction on Friday, October 4th. The stock was sold at an average price of $103.04, for a total transaction of $392,067.20. Following the sale, the president now owns 51,926 shares of the company's stock, valued at approximately $5,350,455.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mac Armstrong sold 7,000 shares of the company's stock in a transaction 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 sale, the chief executive officer now directly owns 433,388 shares in the company, valued at $41,726,596.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,520 shares of company stock worth $3,626,486 over the last ninety days. Corporate insiders own 4.30% of the company's stock.

Palomar Stock Down 1.5 %

NASDAQ:PLMR traded down $1.39 during trading hours on Friday, reaching $88.38. 154,769 shares of the stock were exchanged, compared to its average volume of 126,864. The business has a 50-day moving average of $95.65 and a two-hundred day moving average of $88.99. Palomar Holdings, Inc. has a twelve month low of $54.50 and a twelve month high of $103.40. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 23.32 and a beta of 0.34.

Palomar (NASDAQ:PLMR - Get Free Report) last released its quarterly 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. Palomar had a return on equity of 20.83% and a net margin of 21.63%. The company had revenue of $123.08 million for the quarter, compared to analysts' expectations of $338.74 million. During the same period in the prior year, the firm earned $0.72 earnings per share. The firm's revenue was up 47.0% compared to the same quarter last year. On average, research analysts forecast that Palomar Holdings, Inc. will post 4.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PLMR shares. Evercore ISI boosted their target price on Palomar from $90.00 to $99.00 and gave the stock an "in-line" rating in a report on Tuesday, August 6th. Truist Financial boosted their target price on Palomar from $100.00 to $112.00 and gave the stock a "buy" rating in a report on Thursday, August 8th. Piper Sandler boosted their target price on Palomar from $99.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on Palomar from $88.00 to $91.00 and gave the stock a "neutral" rating in a report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods boosted their target price on Palomar from $96.00 to $113.00 and gave the stock an "outperform" rating in a report on Tuesday, August 13th. Three 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $105.50.

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.