Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson Sells 356 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 356 shares of Palomar stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $104.51, for a total value of $37,205.56. Following the transaction, the president now owns 57,259 shares of the company’s stock, valued at approximately $5,984,138.09. This represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Wednesday, January 29th, Jon Christianson sold 478 shares of Palomar stock. The shares were sold at an average price of $108.34, for a total value of $51,786.52.
• 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 transaction of $37,726.99.
• On Wednesday, January 1st, Jon Christianson sold 819 shares of Palomar stock. The shares were sold at an average price of $105.86, for a total transaction of $86,699.34.
• On Monday, November 11th, Jon Christianson sold 2,195 shares of Palomar stock. The shares were sold at an average price of $104.10, for a total transaction of $228,499.50.

Palomar Stock Down 0.3 %

NASDAQ:PLMR traded down $0.29 during trading hours on Tuesday, reaching $106.74. 106,533 shares of the company’s stock were exchanged, compared to its average volume of 131,602. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 25.35 and a beta of 0.38. The company has a 50-day moving average of $106.89 and a 200 day moving average of $99.63. Palomar Holdings, Inc. has a 1-year low of $57.55 and a 1-year high of $112.90.

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

Institutional Trading of Palomar

Hedge funds have recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Palomar by 3.0% in the third quarter. State Street Corp now owns 1,097,702 shares of the company’s stock valued at $103,919,000 after purchasing an additional 32,151 shares during the period. Geode Capital Management LLC increased its holdings in Palomar by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock valued at $56,822,000 after acquiring an additional 18,335 shares in the last quarter. Artemis Investment Management LLP grew its holdings in shares of Palomar by 18.7% during the fourth 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 in the last quarter. Emerald Advisers LLC lifted its stake in shares of Palomar by 1.9% during the 3rd quarter. Emerald Advisers LLC now owns 449,973 shares of the company’s stock worth $42,599,000 after purchasing an additional 8,601 shares during the period. Finally, Westfield Capital Management Co. LP boosted its stake in 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. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on PLMR shares. Piper Sandler boosted their target price on shares of Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods upped their target price on shares of Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. increased their price objective on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, 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. Three equities 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $115.50.

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.