Trillium Asset Management LLC Makes New $4.60 Million Investment in Palomar Holdings, Inc. (NASDAQ:PLMR)

Trillium Asset Management LLC purchased a new stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 43,557 shares of the company’s stock, valued at approximately $4,599,000. Trillium Asset Management LLC owned about 0.16% of Palomar at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Dakota Wealth Management grew its holdings in shares of Palomar by 3.1% during the 4th quarter. Dakota Wealth Management now owns 3,070 shares of the company’s stock valued at $324,000 after purchasing an additional 92 shares during the last quarter. Farther Finance Advisors LLC increased its holdings 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 buying an additional 99 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Palomar by 0.7% in the 4th quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company’s stock valued at $1,588,000 after acquiring an additional 100 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in Palomar by 0.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company’s stock valued at $1,352,000 after acquiring an additional 100 shares during the period. Finally, Avantax Advisory Services Inc. grew its position in Palomar by 2.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,837 shares of the company’s stock worth $616,000 after acquiring an additional 145 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors.

Palomar Trading Down 0.6 %

Shares of Palomar stock opened at $129.42 on Thursday. The company’s fifty day simple moving average is $116.99 and its two-hundred day simple moving average is $106.28. Palomar Holdings, Inc. has a 12-month low of $74.09 and a 12-month high of $136.90. The company has a market cap of $3.45 billion, a P/E ratio of 28.89 and a beta of 0.33.

Palomar (NASDAQ:PLMR) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. Analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Analyst Ratings Changes

PLMR has been the subject of several recent research reports. Piper Sandler boosted their price objective on Palomar from $133.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods upped their price target on shares of Palomar from $136.00 to $152.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Truist Financial raised their price target on shares of Palomar from $112.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, JMP Securities restated a “market perform” rating on shares of Palomar in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $127.33.

Insider Transactions at Palomar

In other news, CFO T Christopher Uchida sold 394 shares of the company’s stock in a transaction dated Sunday, January 26th. The shares were sold at an average price of $101.69, for a total value of $40,065.86. Following the sale, the chief financial officer now directly owns 16,943 shares of the company’s stock, valued at $1,722,933.67. This represents a 2.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Angela L. Grant sold 1,505 shares of Palomar stock in a transaction dated Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total transaction of $159,319.30. Following the transaction, the insider now directly owns 2,534 shares of the company’s stock, valued at approximately $268,249.24. This trade represents a 37.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,455 shares of company stock valued at $3,984,020. Corporate insiders own 4.30% of the company’s stock.

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.