Jonathan Knutzen Sells 282 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) insider Jonathan Knutzen sold 282 shares of Palomar stock in a transaction on Friday, January 31st. The stock was sold at an average price of $104.46, for a total transaction of $29,457.72. Following the transaction, the insider now owns 20,098 shares in the company, valued at $2,099,437.08. This represents a 1.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Palomar Stock Performance

Shares of NASDAQ:PLMR opened at $109.37 on Thursday. The firm has a market cap of $2.90 billion, a PE ratio of 25.98 and a beta of 0.38. The firm’s 50 day simple moving average is $106.85 and its 200-day simple moving average is $99.76. Palomar Holdings, Inc. has a one year low of $57.63 and a one year high of $112.90.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. acquired a new stake in Palomar in the third quarter valued at approximately $10,994,000. Soros Fund Management LLC purchased a new stake in shares of Palomar during the 3rd quarter valued at $9,467,000. Westfield Capital Management Co. LP boosted its position in shares of Palomar by 24.5% in the 3rd 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 in the last quarter. Artemis Investment Management LLP grew its stake in Palomar by 18.7% during the 4th quarter. Artemis Investment Management LLP now owns 455,082 shares of the company’s stock worth $48,052,000 after buying an additional 71,806 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in Palomar by 9,367.0% during the 3rd quarter. International Assets Investment Management LLC now owns 57,654 shares of the company’s stock valued at $5,458,000 after buying an additional 57,045 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Analyst Ratings Changes

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

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.