Angela L. Grant Sells 1,505 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) insider Angela L. Grant sold 1,505 shares of Palomar stock in a transaction dated Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total transaction of $159,319.30. Following the sale, the insider now owns 2,534 shares in the company, valued at approximately $268,249.24. This represents a 37.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Palomar Stock Performance

Shares of NASDAQ:PLMR opened at $104.81 on Friday. The company has a market capitalization of $2.77 billion, a PE ratio of 24.90 and a beta of 0.36. The stock has a fifty day moving average of $103.86 and a 200-day moving average of $95.96. Palomar Holdings, Inc. has a one year low of $54.81 and a one year high of $112.90.

Palomar (NASDAQ:PLMR) last announced 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 during the quarter, compared to the consensus estimate of $134.72 million. During the same period in the prior year, the business posted $0.80 earnings per share. As a group, research analysts forecast that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Palomar by 8.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,833 shares of the company’s stock valued at $636,000 after acquiring an additional 594 shares during the period. International Assets Investment Management LLC acquired a new stake in Palomar during the 2nd quarter valued at $49,000. Rhumbline Advisers lifted its holdings in shares of Palomar by 1.4% in the second quarter. Rhumbline Advisers now owns 68,490 shares of the company’s stock valued at $5,558,000 after purchasing an additional 947 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Palomar by 1,634.6% in the second quarter. Victory Capital Management Inc. now owns 177,678 shares of the company’s stock valued at $14,419,000 after purchasing an additional 167,435 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Palomar by 2.4% in the second quarter. Arizona State Retirement System now owns 6,961 shares of the company’s stock worth $565,000 after buying an additional 164 shares during the period. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PLMR. JPMorgan Chase & Co. boosted their price target on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler boosted their target price on Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Keefe, Bruyette & Woods increased their price target on Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Jefferies Financial Group boosted 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. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $111.67.

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.