Palomar (NASDAQ:PLMR) Insider Angela Grant Sells 1,447 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) insider Angela Grant sold 1,447 shares of the business’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $119.88, for a total transaction of $173,466.36. Following the completion of the sale, the insider directly owned 5,242 shares of the company’s stock, valued at approximately $628,410.96. This trade represents a 21.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Palomar Price Performance

Shares of NASDAQ:PLMR traded up $0.38 during trading hours on Friday, hitting $123.59. The company’s stock had a trading volume of 266,025 shares, compared to its average volume of 191,596. Palomar Holdings, Inc. has a 52 week low of $104.47 and a 52 week high of $175.85. The firm’s fifty day moving average price is $127.64 and its 200 day moving average price is $124.07. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 19.28 and a beta of 0.42.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings data on Thursday, November 6th. The company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.45. Palomar had a net margin of 22.59% and a return on equity of 21.93%. The firm had revenue of $244.66 million for the quarter, compared to the consensus estimate of $207.98 million. During the same quarter in the previous year, the firm earned $1.23 EPS. On average, equities research analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PLMR has been the subject of a number of recent research reports. Wall Street Zen raised shares of Palomar from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Keefe, Bruyette & Woods upped their price target on Palomar from $170.00 to $171.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. upped their price objective on shares of Palomar from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Finally, Weiss Ratings upgraded Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, January 14th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Palomar has a consensus rating of “Moderate Buy” and a consensus target price of $159.50.

Hedge Funds Weigh In On Palomar

Several institutional investors and hedge funds have recently bought and sold shares of PLMR. Allworth Financial LP increased its stake in Palomar by 1,970.0% during the second quarter. Allworth Financial LP now owns 207 shares of the company’s stock worth $32,000 after acquiring an additional 197 shares during the last quarter. Salomon & Ludwin LLC bought a new position in Palomar during the 3rd quarter valued at $25,000. Richardson Financial Services Inc. lifted its holdings in Palomar by 210.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 217 shares of the company’s stock worth $25,000 after buying an additional 147 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Palomar in the 4th quarter valued at about $32,000. Finally, Hollencrest Capital Management boosted its position in Palomar by 56.5% during the 2nd quarter. Hollencrest Capital Management now owns 313 shares of the company’s stock valued at $48,000 after purchasing an additional 113 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

About Palomar

Palomar Holdings, Inc (NASDAQ: PLMR) is a specialty insurance holding company focused on providing medical stop-loss coverage and related administrative services to self-funded employer health plans in the United States. The firm operates through two primary business segments—Medical Stop-Loss and Specialty Program Management—to deliver tailored risk protection and comprehensive program administration.

In its Medical Stop-Loss segment, Palomar underwrites excess and aggregate stop-loss policies designed to shield self-insured employers from catastrophic medical claims that exceed pre-determined retention levels.