Palomar Holdings, Inc. (NASDAQ:PLMR) President Sells $86,699.34 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 819 shares of Palomar stock in a transaction on Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total transaction of $86,699.34. Following the completion of the transaction, the president now directly owns 55,126 shares in the company, valued at $5,835,638.36. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, November 11th, Jon Christianson sold 2,195 shares of Palomar stock. The shares were sold at an average price of $104.10, for a total transaction of $228,499.50.
• 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 transaction of $196,900.00.

Palomar Stock Up 0.4 %

Shares of NASDAQ PLMR opened at $104.81 on Monday. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 24.90 and a beta of 0.38. Palomar Holdings, Inc. has a 52 week low of $54.81 and a 52 week high of $112.90. The firm has a 50-day moving average price of $103.86 and a 200 day moving average price of $96.06.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.20. The company had revenue of $148.50 million during the quarter, compared to the consensus estimate of $134.72 million. Palomar had a net margin of 21.55% and a return on equity of 19.65%. During the same period last year, the firm earned $0.80 EPS. Equities research analysts expect that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Institutional Trading of Palomar

Institutional investors have recently bought and sold shares of the company. State Street Corp raised its stake in shares of Palomar by 3.0% during the 3rd quarter. State Street Corp now owns 1,097,702 shares of the company’s stock worth $103,919,000 after buying an additional 32,151 shares during the last quarter. Geode Capital Management LLC raised its position in Palomar by 3.2% during the third quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock worth $56,822,000 after acquiring an additional 18,335 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Palomar by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 508,870 shares of the company’s stock worth $41,295,000 after acquiring an additional 66,478 shares during the last quarter. Emerald Advisers LLC lifted its holdings in shares of Palomar by 1.9% in the third quarter. Emerald Advisers LLC now owns 449,973 shares of the company’s stock valued at $42,599,000 after purchasing an additional 8,601 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its position in shares of Palomar by 24.5% in the third quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company’s stock valued at $37,339,000 after purchasing an additional 77,552 shares during the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PLMR. Piper Sandler increased their price objective on Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Jefferies Financial Group boosted their price objective on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised their target price on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $111.67.

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.