Palomar Holdings, Inc. (NASDAQ:PLMR) President Sells $37,726.99 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 371 shares of the stock in a transaction dated Sunday, January 26th. The shares were sold at an average price of $101.69, for a total value of $37,726.99. Following the transaction, the president now owns 55,771 shares in the company, valued at $5,671,352.99. This trade represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• 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 stock was sold at an average price of $104.10, for a total transaction of $228,499.50.

Palomar Price Performance

Palomar stock traded up $3.05 during mid-day trading on Tuesday, reaching $109.29. The stock had a trading volume of 82,976 shares, compared to its average volume of 138,240. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 25.96 and a beta of 0.38. Palomar Holdings, Inc. has a one year low of $57.55 and a one year high of $112.90. The company has a 50-day moving average price of $106.96 and a two-hundred day moving average price of $99.14.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.20. The firm had revenue of $148.50 million during the quarter, compared to analysts’ expectations 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 previous year, the business earned $0.80 earnings per share. On average, equities research analysts anticipate that Palomar Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Palomar

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new stake in shares of Palomar during the 3rd quarter valued at about $10,994,000. Soros Fund Management LLC bought a new position in shares of Palomar in the third quarter worth about $9,467,000. Westfield Capital Management Co. LP grew its holdings in Palomar by 24.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company’s stock valued at $37,339,000 after buying an additional 77,552 shares in the last quarter. Artemis Investment Management LLP raised its position 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 valued at $48,052,000 after buying an additional 71,806 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Palomar by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 508,870 shares of the company’s stock worth $41,295,000 after buying an additional 66,478 shares in the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLMR has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their price objective on Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. upped their target price on Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Piper Sandler increased their price objective on Palomar from $119.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Jefferies Financial Group upped their target price on shares of Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.