Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Sold by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust decreased its position in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 16.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 309,351 shares of the company's stock after selling 59,426 shares during the period. Palomar makes up 2.0% of Emerald Mutual Fund Advisers Trust's portfolio, making the stock its 5th largest position. Emerald Mutual Fund Advisers Trust owned approximately 1.17% of Palomar worth $32,664,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC boosted its stake in shares of Palomar by 112.6% during the 3rd quarter. Barclays PLC now owns 71,803 shares of the company's stock worth $6,798,000 after buying an additional 38,027 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Palomar by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company's stock worth $12,133,000 after acquiring an additional 11,140 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in Palomar by 28.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 42,853 shares of the company's stock valued at $4,525,000 after purchasing an additional 9,396 shares during the period. Contravisory Investment Management Inc. bought a new stake in Palomar in the 4th quarter valued at $318,000. Finally, Avanza Fonder AB bought a new stake in shares of Palomar during the 4th quarter valued at $143,000. Institutional investors and hedge funds own 90.25% of the company's stock.

Insider Activity

In other news, President Jon Christianson sold 356 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $104.51, for a total transaction of $37,205.56. Following the sale, the president now owns 57,259 shares of the company's stock, valued at $5,984,138.09. This trade represents a 0.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan Knutzen sold 282 shares of the business's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $104.46, for a total transaction of $29,457.72. Following the completion of the sale, the insider now directly owns 20,098 shares of the company's stock, valued at approximately $2,099,437.08. The trade was a 1.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,519 shares of company stock worth $2,784,657 over the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on PLMR shares. Truist Financial upped their target price on Palomar from $150.00 to $178.00 and gave the company a "buy" rating in a report on Tuesday, April 15th. JMP Securities reiterated a "market perform" rating on shares of Palomar in a report on Thursday, February 13th. Jefferies Financial Group raised their price objective on shares of Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Piper Sandler increased their target price on shares of Palomar from $133.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Palomar from $155.00 to $145.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Palomar has an average rating of "Moderate Buy" and an average target price of $148.33.

Palomar Price Performance

Palomar stock traded down $0.96 during mid-day trading on Thursday, reaching $144.06. 452,310 shares of the stock traded hands, compared to its average volume of 190,413. The business's 50-day moving average is $136.80 and its 200-day moving average is $116.30. The stock has a market capitalization of $3.85 billion, a PE ratio of 32.16 and a beta of 0.46. Palomar Holdings, Inc. has a 12-month low of $77.17 and a 12-month high of $155.87.

Palomar (NASDAQ:PLMR - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 EPS for the quarter, beating 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%. Equities analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS 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.