Emerald Advisers LLC Has $35.14 Million Position in Palomar Holdings, Inc. $PLMR

Emerald Advisers LLC trimmed its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR) by 6.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 301,002 shares of the company’s stock after selling 20,145 shares during the quarter. Palomar comprises about 1.1% of Emerald Advisers LLC’s portfolio, making the stock its 26th biggest position. Emerald Advisers LLC owned approximately 1.12% of Palomar worth $35,142,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PLMR. Osaic Holdings Inc. grew its holdings in shares of Palomar by 93.7% during the second quarter. Osaic Holdings Inc. now owns 19,370 shares of the company’s stock valued at $2,933,000 after buying an additional 9,371 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Palomar in the 3rd quarter valued at about $1,459,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in Palomar by 11.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 456,172 shares of the company’s stock valued at $53,258,000 after purchasing an additional 45,665 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Palomar by 256.0% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,785 shares of the company’s stock worth $6,445,000 after purchasing an additional 30,049 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Palomar in the second quarter worth approximately $1,053,000. Institutional investors own 90.25% of the company’s stock.

Palomar Trading Down 0.5%

Palomar stock opened at $130.00 on Thursday. The business’s 50 day simple moving average is $128.05 and its 200 day simple moving average is $124.67. Palomar Holdings, Inc. has a 12 month low of $101.64 and a 12 month high of $175.85. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 20.28 and a beta of 0.42.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Thursday, November 6th. The company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.45. Palomar had a return on equity of 21.93% and a net margin of 22.59%.The firm had revenue of $244.66 million for the quarter, compared to analysts’ expectations of $207.98 million. During the same quarter in the prior year, the firm earned $1.23 EPS. As a group, equities research analysts forecast that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Palomar

In other news, President Jon Christianson sold 1,691 shares of Palomar stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $139.50, for a total value of $235,894.50. Following the completion of the transaction, the president owned 59,631 shares in the company, valued at $8,318,524.50. This trade represents a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mac Armstrong sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $122.86, for a total transaction of $614,300.00. Following the sale, the chief executive officer owned 358,388 shares in the company, valued at $44,031,549.68. The trade was a 1.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 10,586 shares of company stock worth $1,354,706 over the last ninety days. Company insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PLMR. Evercore ISI cut their target price on Palomar from $168.00 to $134.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 1st. Weiss Ratings raised shares of Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 14th. Keefe, Bruyette & Woods increased their target price on shares of Palomar from $170.00 to $171.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Wall Street Zen raised shares of Palomar from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Palomar from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Palomar has an average rating of “Moderate Buy” and an average target price of $159.50.

Palomar Company Profile

Palomar Holdings, Inc (NASDAQ: PLMR) is a specialty insurance holding company focused on providing medical stop-loss coverage and related administrative services to self-funded employer health plans in the United States. The firm operates through two primary business segments—Medical Stop-Loss and Specialty Program Management—to deliver tailored risk protection and comprehensive program administration.

In its Medical Stop-Loss segment, Palomar underwrites excess and aggregate stop-loss policies designed to shield self-insured employers from catastrophic medical claims that exceed pre-determined retention levels.