Insider Selling: Palomar Holdings, Inc. (NASDAQ:PLMR) President Sells 478 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 478 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $108.34, for a total value of $51,786.52. Following the completion of the transaction, the president now directly owns 56,619 shares of the company’s stock, valued at $6,134,102.46. This represents a 0.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Sunday, January 26th, Jon Christianson sold 371 shares of Palomar stock. The stock was sold at an average price of $101.69, for a total value of $37,726.99.
• On Wednesday, January 1st, Jon Christianson sold 819 shares of Palomar stock. The stock was sold at an average price of $105.86, for a total value of $86,699.34.
• 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.

Palomar Trading Up 0.4 %

PLMR traded up $0.43 during trading on Friday, hitting $107.87. 129,015 shares of the company’s stock traded hands, compared to its average volume of 133,406. The company’s 50 day simple moving average is $106.94 and its two-hundred day simple moving average is $99.27. Palomar Holdings, Inc. has a 12-month low of $57.55 and a 12-month high of $112.90. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 25.62 and a beta of 0.38.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on PLMR shares. Jefferies Financial Group raised their price objective on 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 price objective on 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 price objective on Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods raised their price objective on Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $115.50.

Institutional Trading of Palomar

Several institutional investors have recently added to or reduced their stakes in PLMR. Point72 Asset Management L.P. purchased a new position in shares of Palomar in the 3rd quarter worth $10,994,000. Soros Fund Management LLC purchased a new position in shares of Palomar in the 3rd quarter worth $9,467,000. Westfield Capital Management Co. LP boosted its stake 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 buying an additional 77,552 shares during the last quarter. Artemis Investment Management LLP boosted its stake in shares of Palomar by 18.7% in 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 boosted its stake in shares of Palomar by 9,367.0% in the 3rd quarter. International Assets Investment Management LLC now owns 57,654 shares of the company’s stock worth $5,458,000 after buying an additional 57,045 shares during the last quarter. 90.25% of the stock is currently 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.