Diversified Trust Co Has $890,000 Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Diversified Trust Co cut its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 28.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,426 shares of the company’s stock after selling 3,274 shares during the period. Diversified Trust Co’s holdings in Palomar were worth $890,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PLMR. Victory Capital Management Inc. grew its stake in shares of Palomar by 1,634.6% in the second quarter. Victory Capital Management Inc. now owns 177,678 shares of the company’s stock worth $14,419,000 after purchasing an additional 167,435 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Palomar in the third quarter worth $10,994,000. Soros Fund Management LLC bought a new stake in shares of Palomar in the third quarter worth $9,467,000. Westfield Capital Management Co. LP grew its stake in shares of Palomar by 24.5% in the third quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company’s stock worth $37,339,000 after purchasing an additional 77,552 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Palomar by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 508,870 shares of the company’s stock worth $41,295,000 after purchasing an additional 66,478 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Palomar Price Performance

PLMR stock opened at $105.87 on Friday. The stock has a market capitalization of $2.80 billion, a PE ratio of 25.15 and a beta of 0.38. The company’s 50-day moving average is $105.00 and its 200-day moving average is $96.67. Palomar Holdings, Inc. has a 1 year low of $54.81 and a 1 year high of $112.90.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.20. The company had revenue of $148.50 million for the quarter, compared to analysts’ expectations of $134.72 million. Palomar had a net margin of 21.55% and a return on equity of 19.65%. During the same quarter in the prior year, the firm earned $0.80 EPS. On average, analysts anticipate that Palomar Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on PLMR shares. Keefe, Bruyette & Woods boosted their price objective on shares of Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Piper Sandler upped their price target on shares of Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. upped their price target on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group upped their price target on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

Insider Transactions at Palomar

In related news, CFO T Christopher Uchida sold 1,030 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $97.65, for a total value of $100,579.50. Following the sale, the chief financial officer now owns 17,543 shares in the company, valued at $1,713,073.95. This represents a 5.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Jon Christianson sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $98.45, for a total transaction of $196,900.00. Following the completion of the sale, the president now owns 51,926 shares in the company, valued at $5,112,114.70. This represents a 3.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,909 shares of company stock valued at $3,242,655 in the last 90 days. 4.30% of the stock is currently owned by corporate insiders.

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.