Palomar Holdings, Inc. (NASDAQ:PLMR) Shares Sold by Diversified Trust Co

Diversified Trust Co decreased its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 24.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,347 shares of the company's stock after selling 2,079 shares during the period. Diversified Trust Co's holdings in Palomar were worth $870,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its position in shares of Palomar by 536.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock worth $43,000 after acquiring an additional 349 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in Palomar during the 1st quarter worth $46,000. Jones Financial Companies Lllp grew its position in Palomar by 63.2% during the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock worth $52,000 after purchasing an additional 191 shares during the last quarter. NBC Securities Inc. purchased a new position in Palomar during the 1st quarter worth $53,000. Finally, USA Financial Formulas acquired a new position in Palomar in the first quarter valued at $55,000. Institutional investors and hedge funds own 90.25% of the company's stock.

Insider Transactions at Palomar

In related news, CFO T Christopher Uchida sold 1,000 shares of Palomar stock in a transaction on Monday, April 14th. The stock was sold at an average price of $150.24, for a total transaction of $150,240.00. Following the completion of the transaction, the chief financial officer now directly owns 8,172 shares of the company's stock, valued at approximately $1,227,761.28. The trade was a 10.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Mac Armstrong sold 5,000 shares of the business's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $158.14, for a total value of $790,700.00. Following the sale, the chief executive officer now owns 387,388 shares in the company, valued at approximately $61,261,538.32. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,702 shares of company stock valued at $3,347,574 in the last ninety days. 3.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PLMR has been the subject of several recent research reports. Keefe, Bruyette & Woods decreased their target price on shares of Palomar from $155.00 to $145.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Wall Street Zen raised Palomar from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Truist Financial lifted their target price on Palomar from $150.00 to $178.00 and gave the company a "buy" rating in a research note on Tuesday, April 15th. Piper Sandler boosted their target price on Palomar from $171.00 to $177.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Finally, Jefferies Financial Group upped their price target on Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $164.33.

Palomar Trading Down 0.2%

NASDAQ PLMR opened at $153.38 on Monday. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of 30.61 and a beta of 0.50. The business's 50 day moving average is $158.13 and its two-hundred day moving average is $133.73. Palomar Holdings, Inc. has a 12-month low of $79.82 and a 12-month high of $175.85.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $1.87 earnings per share for the quarter, beating analysts' consensus estimates of $1.61 by $0.26. The firm had revenue of $174.63 million for the quarter, compared to the consensus estimate of $161.97 million. Palomar had a return on equity of 20.56% and a net margin of 21.99%. During the same period in the previous year, the business earned $1.09 earnings per share. Equities analysts forecast that Palomar Holdings, Inc. will post 5.99 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.

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