Trillium Asset Management LLC Sells 12,289 Shares of Palomar Holdings, Inc. $PLMR

Trillium Asset Management LLC lessened its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 28.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,947 shares of the company’s stock after selling 12,289 shares during the quarter. Trillium Asset Management LLC’s holdings in Palomar were worth $4,773,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLMR. Nisa Investment Advisors LLC raised its holdings in shares of Palomar by 185.3% during the first quarter. Nisa Investment Advisors LLC now owns 311 shares of the company’s stock valued at $43,000 after acquiring an additional 202 shares in the last quarter. Maseco LLP bought a new position in Palomar in the second quarter worth $45,000. TCTC Holdings LLC raised its holdings in Palomar by 116.5% in the first quarter. TCTC Holdings LLC now owns 381 shares of the company’s stock worth $52,000 after purchasing an additional 205 shares in the last quarter. IFP Advisors Inc raised its holdings in Palomar by 556.9% in the second quarter. IFP Advisors Inc now owns 335 shares of the company’s stock worth $52,000 after purchasing an additional 284 shares in the last quarter. Finally, NewEdge Advisors LLC bought a new position in Palomar in the first quarter worth $66,000. Institutional investors own 90.25% of the company’s stock.

Palomar Trading Up 1.0%

NASDAQ PLMR opened at $116.71 on Thursday. Palomar Holdings, Inc. has a 12 month low of $94.45 and a 12 month high of $175.85. The stock has a market cap of $3.13 billion, a P/E ratio of 20.51 and a beta of 0.30. The stock’s fifty day moving average price is $116.84 and its 200-day moving average price is $135.88.

Palomar (NASDAQ:PLMR) last released its earnings results on Friday, December 16th. The company reported $0.07 EPS for the quarter. Palomar had a return on equity of 20.35% and a net margin of 22.71%.The firm had revenue of $65.74 million for the quarter. As a group, analysts forecast that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Insider Transactions at Palomar

In other news, CEO Mac Armstrong sold 5,000 shares of the stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $115.31, for a total value of $576,550.00. Following the sale, the chief executive officer directly owned 367,388 shares of the company’s stock, valued at approximately $42,363,510.28. This represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Jon Christianson sold 521 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $120.13, for a total value of $62,587.73. Following the sale, the president directly owned 59,036 shares in the company, valued at $7,091,994.68. This trade represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 20,302 shares of company stock valued at $2,414,141. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PLMR. Weiss Ratings reiterated a “hold (c+)” rating on shares of Palomar in a report on Wednesday, October 8th. Piper Sandler decreased their price objective on Palomar from $177.00 to $151.00 and set an “overweight” rating for the company in a report on Wednesday, August 6th. Evercore ISI decreased their price objective on Palomar from $168.00 to $134.00 and set an “in-line” rating for the company in a report on Wednesday, October 1st. JPMorgan Chase & Co. decreased their price objective on Palomar from $158.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, October 9th. Finally, Keefe, Bruyette & Woods decreased their price objective on Palomar from $204.00 to $172.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.67.

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.