Emerald Mutual Fund Advisers Trust Has $32.66 Million Stock Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Emerald Mutual Fund Advisers Trust trimmed its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 16.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 309,351 shares of the company's stock after selling 59,426 shares during the period. Palomar accounts for approximately 2.0% of Emerald Mutual Fund Advisers Trust's holdings, making the stock its 5th largest holding. Emerald Mutual Fund Advisers Trust owned approximately 1.17% of Palomar worth $32,664,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PLMR. Dakota Wealth Management raised its holdings in shares of Palomar by 3.1% in the fourth quarter. Dakota Wealth Management now owns 3,070 shares of the company's stock valued at $324,000 after buying an additional 92 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Palomar by 21.8% in the fourth quarter. Farther Finance Advisors LLC now owns 554 shares of the company's stock worth $58,000 after acquiring an additional 99 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Palomar by 0.7% during the fourth quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company's stock worth $1,588,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Palomar by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company's stock valued at $1,352,000 after purchasing an additional 100 shares during the last quarter. Finally, Avantax Advisory Services Inc. increased its holdings in shares of Palomar by 2.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,837 shares of the company's stock valued at $616,000 after purchasing an additional 145 shares in the last quarter. Institutional investors own 90.25% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on PLMR. JMP Securities reiterated a "market perform" rating on shares of Palomar in a research report on Thursday, February 13th. Jefferies Financial Group lifted their price objective on Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Truist Financial upped their target price on shares of Palomar from $150.00 to $178.00 and gave the company a "buy" rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. upgraded shares of Palomar from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $115.00 to $150.00 in a research report on Tuesday, April 8th. Finally, Piper Sandler upped their target price on shares of Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Palomar currently has an average rating of "Moderate Buy" and an average price target of $148.33.

Palomar Stock Up 5.4 %

NASDAQ PLMR traded up $7.75 during trading on Friday, reaching $151.81. 479,631 shares of the stock traded hands, compared to its average volume of 191,305. The stock's 50-day moving average price is $137.79 and its 200 day moving average price is $116.99. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 33.89 and a beta of 0.46. Palomar Holdings, Inc. has a fifty-two week low of $77.28 and a fifty-two week high of $155.87.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.37 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%. Analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Insider Activity at Palomar

In related news, CFO T Christopher Uchida sold 1,000 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the transaction, the chief financial officer now directly owns 10,172 shares of the company's stock, valued at approximately $1,413,908. This represents a 8.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mac Armstrong sold 5,000 shares of the business's stock in a transaction dated 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 approximately $52,197,771.36. This trade represents a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 17,254 shares of company stock worth $2,443,484. 3.70% of the stock is owned by company insiders.

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.