Diversified Trust Co Has $956,000 Stock Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

Diversified Trust Co lifted its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 35.7% in the first quarter, Holdings Channel reports. The institutional investor owned 11,400 shares of the company’s stock after acquiring an additional 3,000 shares during the period. Diversified Trust Co’s holdings in Palomar were worth $956,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Signaturefd LLC grew its position in Palomar by 59.4% in the fourth quarter. Signaturefd LLC now owns 593 shares of the company’s stock valued at $33,000 after acquiring an additional 221 shares during the last quarter. Atwood & Palmer Inc. grew its position in Palomar by 66.7% in the first quarter. Atwood & Palmer Inc. now owns 750 shares of the company’s stock valued at $63,000 after acquiring an additional 300 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Palomar by 4.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,135 shares of the company’s stock valued at $618,000 after acquiring an additional 452 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in Palomar by 4.1% in the fourth quarter. Conestoga Capital Advisors LLC now owns 27,137 shares of the company’s stock valued at $1,506,000 after acquiring an additional 1,075 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new position in Palomar in the fourth quarter valued at about $108,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

Insider Buying and Selling

In related news, President Jon Christianson sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $76.30, for a total transaction of $152,600.00. Following the completion of the sale, the president now owns 57,761 shares in the company, valued at $4,407,164.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO T Christopher Uchida sold 1,000 shares of Palomar stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $76.30, for a total value of $76,300.00. Following the sale, the chief financial officer now owns 25,344 shares of the company’s stock, valued at approximately $1,933,747.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Jon Christianson sold 2,000 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $76.30, for a total value of $152,600.00. Following the transaction, the president now directly owns 57,761 shares of the company’s stock, valued at $4,407,164.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,250 shares of company stock worth $2,355,740. 4.30% of the stock is owned by corporate insiders.

Palomar Trading Up 2.5 %

Shares of Palomar stock opened at $83.20 on Tuesday. The stock has a fifty day simple moving average of $82.47 and a 200 day simple moving average of $73.73. Palomar Holdings, Inc. has a 12-month low of $48.08 and a 12-month high of $89.22. The company has a market capitalization of $2.07 billion, a P/E ratio of 23.91 and a beta of 0.31.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.28. Palomar had a return on equity of 19.94% and a net margin of 21.78%. The business had revenue of $108.39 million during the quarter, compared to the consensus estimate of $322.10 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. Palomar’s revenue was up 29.1% compared to the same quarter last year. On average, analysts predict that Palomar Holdings, Inc. will post 4.2 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PLMR. Jefferies Financial Group upgraded Palomar from a “hold” rating to a “buy” rating and lifted their target price for the company from $78.00 to $88.00 in a research report on Thursday, March 14th. Evercore ISI upped their target price on Palomar from $88.00 to $89.00 and gave the company an “in-line” rating in a report on Wednesday, May 29th. Keefe, Bruyette & Woods boosted their price target on Palomar from $93.00 to $96.00 and gave the company an “outperform” rating in a research note on Wednesday, May 29th. JMP Securities reissued a “market perform” rating on shares of Palomar in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. lowered Palomar from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $79.00 to $85.00 in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.83.

Palomar 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.