Trillium Asset Management LLC Purchases Shares of 43,557 Palomar Holdings, Inc. (NASDAQ:PLMR)

Trillium Asset Management LLC acquired a new position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 43,557 shares of the company's stock, valued at approximately $4,599,000. Trillium Asset Management LLC owned 0.16% of Palomar at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PLMR. State Street Corp lifted its holdings in shares of Palomar by 3.0% during the third quarter. State Street Corp now owns 1,097,702 shares of the company's stock worth $103,919,000 after purchasing an additional 32,151 shares during the period. Geode Capital Management LLC lifted its stake in shares of Palomar by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 600,092 shares of the company's stock worth $56,822,000 after acquiring an additional 18,335 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Palomar by 9.5% in the third quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company's stock valued at $12,133,000 after acquiring an additional 11,140 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Palomar by 58.7% in the third quarter. Thrivent Financial for Lutherans now owns 32,837 shares of the company's stock valued at $3,109,000 after acquiring an additional 12,147 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new position in shares of Palomar during the third quarter worth about $1,711,000. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on PLMR. Piper Sandler lifted their price objective on Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, February 14th. JMP Securities restated a "market perform" rating on shares of Palomar in a research note on Thursday, February 13th. Keefe, Bruyette & Woods increased their price objective on Palomar from $152.00 to $155.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Truist Financial boosted their target price on shares of Palomar from $112.00 to $150.00 and gave the stock 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 given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $127.83.

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Insiders Place Their Bets

In other news, CFO T Christopher Uchida sold 394 shares of the business's stock in a transaction on Sunday, January 26th. The stock was sold at an average price of $101.69, for a total value of $40,065.86. Following the completion of the transaction, the chief financial officer now directly owns 16,943 shares of the company's stock, valued at $1,722,933.67. The trade was a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Mac Armstrong sold 5,000 shares of the company's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $129.72, for a total value of $648,600.00. Following the completion of the sale, the chief executive officer now owns 402,388 shares in the company, valued at $52,197,771.36. This represents a 1.23 % decrease in their ownership of the stock. 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. Insiders own 4.30% of the company's stock.

Palomar Stock Up 4.4 %

NASDAQ PLMR traded up $5.67 during mid-day trading on Monday, hitting $134.99. The stock had a trading volume of 277,083 shares, compared to its average volume of 161,963. The company has a 50 day simple moving average of $118.05 and a 200 day simple moving average of $106.78. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 30.13 and a beta of 0.33. Palomar Holdings, Inc. has a 52-week low of $74.09 and a 52-week high of $136.90.

Palomar (NASDAQ:PLMR - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.13. Palomar had a return on equity of 19.76% and a net margin of 21.23%. As a group, equities analysts anticipate that Palomar Holdings, Inc. will post 5.99 earnings per share 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.