Jon Christianson Sells 2,000 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $76.30, for a total value of $152,600.00. Following the completion of the sale, the president now owns 57,761 shares of the company’s stock, valued at approximately $4,407,164.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, March 14th, Jon Christianson sold 10,000 shares of Palomar stock. The shares were sold at an average price of $82.09, for a total value of $820,900.00.
• On Wednesday, February 14th, Jon Christianson sold 2,000 shares of Palomar stock. The shares were sold at an average price of $60.00, for a total value of $120,000.00.
• On Wednesday, January 31st, Jon Christianson sold 356 shares of Palomar stock. The shares were sold at an average price of $59.19, for a total value of $21,071.64.
• On Friday, January 26th, Jon Christianson sold 423 shares of Palomar stock. The shares were sold at an average price of $60.13, for a total value of $25,434.99.

Palomar Trading Up 1.9 %

Shares of PLMR stock opened at $79.22 on Friday. The business’s fifty day simple moving average is $76.95 and its 200-day simple moving average is $64.07. The company has a market cap of $1.97 billion, a PE ratio of 25.39 and a beta of 0.21. Palomar Holdings, Inc. has a 12-month low of $46.09 and a 12-month high of $86.25.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.09. The business had revenue of $102.35 million for the quarter, compared to the consensus estimate of $95.07 million. Palomar had a return on equity of 19.35% and a net margin of 21.07%. On average, equities analysts forecast that Palomar Holdings, Inc. will post 3.84 earnings per share for the current year.

Hedge Funds Weigh In On Palomar

A number of large investors have recently made changes to their positions in PLMR. BlackRock Inc. increased its position in shares of Palomar by 0.9% in the 1st quarter. BlackRock Inc. now owns 3,633,581 shares of the company’s stock valued at $232,512,000 after acquiring an additional 32,307 shares during the period. Vanguard Group Inc. increased its position in shares of Palomar by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 2,363,067 shares of the company’s stock valued at $131,150,000 after acquiring an additional 85,329 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Palomar by 0.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,600,319 shares of the company’s stock valued at $103,061,000 after acquiring an additional 6,497 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of Palomar by 14.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,199,322 shares of the company’s stock valued at $54,162,000 after acquiring an additional 147,566 shares during the period. Finally, Stephens Investment Management Group LLC increased its position in shares of Palomar by 11.3% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,076,606 shares of the company’s stock valued at $59,752,000 after acquiring an additional 109,261 shares during the period. 90.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PLMR shares. JMP Securities reiterated a “market perform” rating on shares of Palomar in a report on Monday, April 15th. Keefe, Bruyette & Woods boosted their price objective on shares of Palomar from $88.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Jefferies Financial Group raised shares of Palomar from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $78.00 to $88.00 in a research note on Thursday, March 14th. JPMorgan Chase & Co. downgraded shares of Palomar from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $79.00 to $85.00 in a research note on Monday, April 8th. Finally, Evercore ISI boosted their price objective on shares of Palomar from $68.00 to $86.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Palomar has an average rating of “Moderate Buy” and a consensus target price of $87.50.

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.