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

Trillium Asset Management LLC lowered its position in Palomar Holdings, Inc. (NASDAQ:PLMR) by 28.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,947 shares of the company’s stock after selling 12,289 shares during the quarter. Trillium Asset Management LLC owned approximately 0.12% of Palomar worth $4,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its stake in Palomar by 3.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,461 shares of the company’s stock worth $363,000 after buying an additional 90 shares in the last quarter. Bank of Montreal Can boosted its stake in Palomar by 1.7% in the second quarter. Bank of Montreal Can now owns 5,766 shares of the company’s stock worth $889,000 after buying an additional 98 shares in the last quarter. Hohimer Wealth Management LLC boosted its stake in Palomar by 3.9% in the first quarter. Hohimer Wealth Management LLC now owns 2,617 shares of the company’s stock worth $359,000 after buying an additional 99 shares in the last quarter. GAMMA Investing LLC boosted its stake in Palomar by 14.4% in the second quarter. GAMMA Investing LLC now owns 833 shares of the company’s stock worth $128,000 after buying an additional 105 shares in the last quarter. Finally, Maryland State Retirement & Pension System boosted its stake in Palomar by 1.5% in the second quarter. Maryland State Retirement & Pension System now owns 7,859 shares of the company’s stock worth $1,212,000 after buying an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Palomar Stock Performance

NASDAQ:PLMR opened at $116.71 on Thursday. The firm has a market cap of $3.13 billion, a PE ratio of 20.51 and a beta of 0.30. Palomar Holdings, Inc. has a fifty-two week low of $94.45 and a fifty-two week high of $175.85. The business has a 50 day moving average price of $116.84 and a 200-day moving average price of $135.88.

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

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, President Jon Christianson sold 521 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $120.13, for a total transaction of $62,587.73. Following the completion of the transaction, the president owned 59,036 shares in the company, valued at $7,091,994.68. This represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan Knutzen sold 281 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $120.13, for a total value of $33,756.53. Following the transaction, the insider owned 21,210 shares of the company’s stock, valued at approximately $2,547,957.30. This represents a 1.31% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 20,302 shares of company stock valued at $2,414,141. Corporate insiders own 3.70% of the company’s stock.

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.