Jon Christianson Sells 2,195 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 2,195 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $104.10, for a total value of $228,499.50. Following the transaction, the president now owns 51,926 shares of the company’s stock, valued at approximately $5,405,496.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, October 15th, Jon Christianson sold 2,000 shares of Palomar stock. The stock was sold at an average price of $98.45, for a total value of $196,900.00.
• On Friday, October 4th, Jon Christianson sold 3,805 shares of Palomar stock. The stock was sold at an average price of $103.04, for a total value 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 Up 0.3 %

Shares of Palomar stock opened at $101.00 on Thursday. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 23.99 and a beta of 0.34. The business has a fifty day simple moving average of $95.36 and a 200-day simple moving average of $89.79. Palomar Holdings, Inc. has a fifty-two week low of $54.50 and a fifty-two week high of $107.00.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.20. The business had revenue of $148.50 million during the quarter, compared to analyst estimates of $134.72 million. Palomar had a return on equity of 19.65% and a net margin of 21.55%. During the same quarter in the prior year, the firm posted $0.80 earnings per share. Analysts anticipate that Palomar Holdings, Inc. will post 4.32 earnings per share for the current fiscal year.

Institutional Trading of Palomar

Several institutional investors have recently modified their holdings of PLMR. Glenmede Trust Co. NA acquired a new stake in shares of Palomar during the third quarter worth $352,000. Bridgewater Associates LP increased its stake in Palomar by 81.7% in the 3rd quarter. Bridgewater Associates LP now owns 17,429 shares of the company’s stock worth $1,650,000 after purchasing an additional 7,835 shares in the last quarter. FMR LLC raised its holdings in Palomar by 39.5% during the 3rd quarter. FMR LLC now owns 2,123 shares of the company’s stock worth $201,000 after buying an additional 601 shares during the period. Quantbot Technologies LP increased its position in shares of Palomar by 97.0% in the third quarter. Quantbot Technologies LP now owns 20,895 shares of the company’s stock worth $1,978,000 after acquiring an additional 10,291 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Palomar by 25.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 75,216 shares of the company’s stock worth $7,121,000 after purchasing an additional 15,093 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wall Street Analyst Weigh In

PLMR has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Truist Financial boosted their price target on Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Piper Sandler boosted their price target on Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Keefe, Bruyette & Woods boosted their price target on Palomar from $117.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Evercore ISI boosted their price target on Palomar from $90.00 to $99.00 and gave the stock an “in-line” rating in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Palomar has a consensus rating of “Moderate Buy” and an average price target of $109.00.

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.