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 firm’s stock in a transaction that occurred 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 sale, the president now directly owns 51,926 shares of the company’s stock, valued at $5,112,114.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Friday, October 4th, Jon Christianson sold 3,805 shares of Palomar stock. The shares were 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 %

PLMR stock opened at $97.09 on Friday. The company has a 50-day simple moving average of $95.83 and a 200 day simple moving average of $87.83. The company has a market capitalization of $2.43 billion, a P/E ratio of 25.62 and a beta of 0.33. Palomar Holdings, Inc. has a fifty-two week low of $48.08 and a fifty-two week high of $103.40.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Monday, August 5th. The company reported $1.25 earnings per share for the quarter, topping 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 analyst estimates of $338.74 million. During the same period in the prior year, the business posted $0.72 EPS. The business’s revenue for the quarter was up 47.0% compared to the same quarter last year. Equities analysts anticipate that Palomar Holdings, Inc. will post 4.36 EPS for the current year.

Hedge Funds Weigh In On Palomar

Several large investors have recently made changes to their positions in PLMR. GAMMA Investing LLC increased its holdings in shares of Palomar by 48.6% in the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after buying an additional 125 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Palomar in the second quarter worth approximately $49,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Palomar during the first quarter valued at approximately $59,000. Advisors Asset Management Inc. lifted its position in shares of Palomar by 137.1% in the 1st quarter. Advisors Asset Management Inc. now owns 735 shares of the company’s stock valued at $62,000 after acquiring an additional 425 shares in the last quarter. Finally, Atwood & Palmer Inc. boosted its stake in Palomar by 66.7% in the 1st quarter. Atwood & Palmer Inc. now owns 750 shares of the company’s stock worth $63,000 after purchasing an additional 300 shares during the period. Institutional investors own 90.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Jefferies Financial Group raised their price objective on Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Truist Financial lifted their target price on Palomar from $100.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Piper Sandler raised their price target on Palomar from $99.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on Palomar from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Finally, Evercore ISI boosted their target price on shares of Palomar from $90.00 to $99.00 and gave the company an “in-line” rating in a research note on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.50.

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.