Insider Selling: Palomar Holdings, Inc. (NASDAQ:PLMR) President Sells $196,900.00 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $98.45, for a total transaction of $196,900.00. Following the transaction, the president now directly owns 51,926 shares in the company, valued at approximately $5,112,114.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, October 4th, Jon Christianson sold 3,805 shares of Palomar stock. The stock was sold at an average price of $103.04, for a total transaction of $392,067.20.
• On Friday, September 6th, Jon Christianson sold 10,000 shares of Palomar stock. The stock was sold at an average price of $94.40, for a total value of $944,000.00.

Palomar Stock Down 0.3 %

Shares of NASDAQ:PLMR opened at $97.09 on Friday. The business has a fifty day simple moving average of $95.83 and a 200-day simple moving average of $87.83. Palomar Holdings, Inc. has a 52 week low of $48.08 and a 52 week high of $103.40. The company has a market cap of $2.43 billion, a P/E ratio of 25.62 and a beta of 0.33.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data on Monday, August 5th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.16. Palomar had a net margin of 21.63% and a return on equity of 20.83%. The company had revenue of $123.08 million during the quarter, compared to the consensus estimate of $338.74 million. During the same quarter in the prior year, the company posted $0.72 EPS. The company’s quarterly revenue was up 47.0% compared to the same quarter last year. Sell-side analysts expect that Palomar Holdings, Inc. will post 4.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Truist Financial raised their price target on Palomar from $100.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. 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 report on Wednesday, October 9th. Evercore ISI raised their price objective on shares of Palomar from $90.00 to $99.00 and gave the stock an “in-line” rating in a research note on Tuesday, August 6th. Piper Sandler upped their target price on Palomar from $99.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, Keefe, Bruyette & Woods raised their price target on Palomar from $96.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.50.

Institutional Trading of Palomar

Several institutional investors have recently made changes to their positions in PLMR. Artemis Investment Management LLP purchased a new stake in Palomar during the first quarter valued at about $20,904,000. Victory Capital Management Inc. lifted its stake in shares of Palomar by 1,634.6% during 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 in the last quarter. F M Investments LLC purchased a new stake in shares of Palomar in the second quarter worth about $11,946,000. Allspring Global Investments Holdings LLC grew its stake in shares of Palomar by 214.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 165,685 shares of the company’s stock valued at $13,445,000 after buying an additional 112,996 shares in the last quarter. Finally, Atlas Capital Advisors LLC raised its holdings in shares of Palomar by 167.7% during the 2nd quarter. Atlas Capital Advisors LLC now owns 137,284 shares of the company’s stock valued at $11,141,000 after buying an additional 86,000 shares during the period. 90.25% of the stock is owned by hedge funds and other institutional investors.

Palomar Company 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.