Palomar Holdings, Inc. (NASDAQ:PLMR) President Sells $86,699.34 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 819 shares of the company’s stock in a transaction dated Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total transaction of $86,699.34. Following the completion of the sale, the president now directly owns 55,126 shares in the company, valued at approximately $5,835,638.36. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Jon Christianson also recently made the following trade(s):

• On Monday, November 11th, Jon Christianson sold 2,195 shares of Palomar stock. The stock was sold at an average price of $104.10, for a total value of $228,499.50.
• On Tuesday, October 15th, Jon Christianson sold 2,000 shares of Palomar stock. The shares were sold at an average price of $98.45, for a total value of $196,900.00.

Palomar Stock Up 0.4 %

Shares of PLMR traded up $0.43 during midday trading on Friday, reaching $104.81. 74,754 shares of the stock were exchanged, compared to its average volume of 92,577. The stock’s 50 day simple moving average is $103.86 and its 200 day simple moving average is $95.96. The company has a market cap of $2.77 billion, a P/E ratio of 24.90 and a beta of 0.36. Palomar Holdings, Inc. has a twelve month low of $54.81 and a twelve month high of $112.90.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Jefferies Financial Group increased their price objective 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. Piper Sandler raised their target price on shares of Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, 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 note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $111.67.

Institutional Investors Weigh In On Palomar

Hedge funds and other institutional investors have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. acquired a new stake in Palomar during the third quarter worth approximately $25,000. GAMMA Investing LLC lifted its position in shares of Palomar by 48.6% during the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after acquiring an additional 125 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Palomar by 490.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $43,000 after acquiring an additional 378 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Palomar during the 2nd quarter worth $49,000. Finally, Covestor Ltd increased its position in shares of Palomar by 20.2% in the third quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after purchasing an additional 181 shares during the period. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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.