Emerald Advisers LLC Sells 20,145 Shares of Palomar Holdings, Inc. $PLMR

Emerald Advisers LLC lessened its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 6.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 301,002 shares of the company’s stock after selling 20,145 shares during the quarter. Palomar comprises 1.1% of Emerald Advisers LLC’s portfolio, making the stock its 26th largest holding. Emerald Advisers LLC’s holdings in Palomar were worth $35,142,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLMR. American Century Companies Inc. grew its stake in Palomar by 2.1% during the second quarter. American Century Companies Inc. now owns 846,312 shares of the company’s stock valued at $130,544,000 after acquiring an additional 17,188 shares in the last quarter. Invesco Ltd. lifted its stake in Palomar by 234.1% in the 2nd quarter. Invesco Ltd. now owns 798,361 shares of the company’s stock worth $123,147,000 after purchasing an additional 559,383 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Palomar by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 657,530 shares of the company’s stock valued at $101,436,000 after purchasing an additional 13,802 shares during the period. Stephens Investment Management Group LLC boosted its holdings in Palomar by 3.6% in the 3rd quarter. Stephens Investment Management Group LLC now owns 579,458 shares of the company’s stock valued at $67,652,000 after purchasing an additional 19,908 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of Palomar by 290.2% during the 2nd quarter. Alliancebernstein L.P. now owns 497,080 shares of the company’s stock valued at $76,675,000 after purchasing an additional 369,697 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Palomar news, CFO T Christopher Uchida sold 782 shares of Palomar stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $128.84, for a total value of $100,752.88. Following the transaction, the chief financial officer directly owned 7,916 shares of the company’s stock, valued at $1,019,897.44. The trade was a 8.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Jon Christianson sold 1,691 shares of the business’s stock in a transaction that occurred on 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 sale, the president owned 59,631 shares of the company’s stock, valued at $8,318,524.50. The trade was a 2.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 10,586 shares of company stock valued at $1,354,706 in the last 90 days. 3.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Palomar Stock Down 0.5%

Palomar stock opened at $130.00 on Thursday. The firm has a fifty day simple moving average of $128.05 and a two-hundred day simple moving average of $124.67. Palomar Holdings, Inc. has a twelve month low of $101.64 and a twelve month high of $175.85. The company has a market capitalization of $3.45 billion, a PE ratio of 20.28 and a beta of 0.42.

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

About Palomar

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.