Diversified Trust Co Sells 2,079 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Diversified Trust Co reduced its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 24.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,347 shares of the company's stock after selling 2,079 shares during the quarter. Diversified Trust Co's holdings in Palomar were worth $870,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLMR. New York State Common Retirement Fund grew its stake in shares of Palomar by 7.1% during the 4th quarter. New York State Common Retirement Fund now owns 15,177 shares of the company's stock valued at $1,603,000 after buying an additional 1,000 shares during the period. Smartleaf Asset Management LLC raised its holdings in Palomar by 536.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock valued at $43,000 after buying an additional 349 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Palomar by 63.2% in the fourth 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 period. Charles Schwab Investment Management Inc. raised its position in shares of Palomar by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 240,176 shares of the company's stock valued at $25,360,000 after buying an additional 9,624 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. boosted its holdings in shares of Palomar by 63.0% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 6,497 shares of the company's stock worth $686,000 after acquiring an additional 2,512 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company's stock.

Palomar Stock Up 1.7%

Shares of PLMR stock traded up $2.45 during mid-day trading on Thursday, hitting $146.10. 247,177 shares of the company's stock were exchanged, compared to its average volume of 215,301. The stock has a 50-day simple moving average of $158.18 and a two-hundred day simple moving average of $134.21. Palomar Holdings, Inc. has a fifty-two week low of $79.82 and a fifty-two week high of $175.85. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 29.16 and a beta of 0.46.

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

Analyst Upgrades and Downgrades

PLMR has been the subject of a number of research reports. Wall Street Zen upgraded Palomar from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Jefferies Financial Group lifted their price target on Palomar from $145.00 to $168.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Keefe, Bruyette & Woods decreased their price target on shares of Palomar from $205.00 to $204.00 and set an "outperform" rating for the company in a research note on Monday. JPMorgan Chase & Co. upgraded shares of Palomar from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $115.00 to $150.00 in a research note on Tuesday, April 8th. Finally, Piper Sandler increased their price target on Palomar from $171.00 to $177.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $174.17.

Insiders Place Their Bets

In related news, insider Timothy Carter sold 473 shares of the firm's stock in a transaction dated Saturday, June 28th. The shares were sold at an average price of $153.65, for a total transaction of $72,676.45. Following the transaction, the insider directly owned 361 shares of the company's stock, valued at approximately $55,467.65. This trade represents a 56.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO T Christopher Uchida sold 1,000 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $150.24, for a total value of $150,240.00. Following the completion of the transaction, the chief financial officer owned 8,172 shares of the company's stock, valued at $1,227,761.28. The trade was a 10.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,175 shares of company stock valued at $3,420,251. 3.70% of the stock is currently owned by corporate 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.