Emerald Mutual Fund Advisers Trust Has $32.66 Million Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Emerald Mutual Fund Advisers Trust cut its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 16.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 309,351 shares of the company’s stock after selling 59,426 shares during the quarter. Palomar comprises 2.0% of Emerald Mutual Fund Advisers Trust’s investment portfolio, making the stock its 5th biggest holding. Emerald Mutual Fund Advisers Trust owned approximately 1.17% of Palomar worth $32,664,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PLMR. Blue Trust Inc. purchased a new position in shares of Palomar in the 4th quarter worth about $26,000. Smartleaf Asset Management LLC grew its holdings in shares of 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 during the last quarter. Jones Financial Companies Lllp increased its position in shares of Palomar by 63.2% during the fourth quarter. Jones Financial Companies Lllp now owns 493 shares of the company’s stock valued at $52,000 after acquiring an additional 191 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Palomar by 21.8% in the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company’s stock worth $58,000 after acquiring an additional 99 shares during the last quarter. Finally, KBC Group NV lifted its position in Palomar by 44.9% in the 4th quarter. KBC Group NV now owns 1,045 shares of the company’s stock valued at $110,000 after acquiring an additional 324 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Palomar news, CFO T Christopher Uchida sold 507 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $108.34, for a total transaction of $54,928.38. Following the sale, the chief financial officer now owns 17,845 shares in the company, valued at approximately $1,933,327.30. The trade was a 2.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Jon Christianson sold 478 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $108.34, for a total value of $51,786.52. Following the completion of the transaction, the president now owns 56,619 shares of the company’s stock, valued at approximately $6,134,102.46. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,342 shares of company stock worth $3,198,841. 3.70% of the stock is currently owned by company insiders.

Palomar Stock Down 3.7 %

Shares of PLMR opened at $147.48 on Monday. Palomar Holdings, Inc. has a 52-week low of $77.17 and a 52-week high of $155.87. The company has a market cap of $3.94 billion, a PE ratio of 32.92 and a beta of 0.46. The business has a fifty day moving average of $135.21 and a 200 day moving average of $115.51.

Palomar (NASDAQ:PLMR) last released its earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.13. Palomar had a return on equity of 19.76% and a net margin of 21.23%. As a group, research 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 several research analyst reports. Jefferies Financial Group lifted their price objective on Palomar from $145.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Keefe, Bruyette & Woods cut their target price on shares of Palomar from $155.00 to $145.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. raised Palomar from a “neutral” rating to an “overweight” rating and increased their price target for the company from $115.00 to $150.00 in a report on Tuesday, April 8th. Piper Sandler upped 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. Finally, Truist Financial raised their target price on Palomar from $150.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Palomar currently has a consensus rating of “Moderate Buy” and an average target price of $148.33.

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.