Insider Selling: Palomar Holdings, Inc. (NASDAQ:PLMR) Insider Sells $72,918.90 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) insider Angela L. Grant sold 717 shares of the company’s stock in a transaction dated Sunday, January 26th. The shares were sold at an average price of $101.70, for a total transaction of $72,918.90. Following the transaction, the insider now owns 2,951 shares in the company, valued at $300,116.70. This represents a 19.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Palomar Trading Down 1.1 %

Palomar stock opened at $107.44 on Friday. The firm has a 50 day moving average of $106.96 and a 200 day moving average of $99.21. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 25.52 and a beta of 0.38. Palomar Holdings, Inc. has a 12-month low of $57.55 and a 12-month high of $112.90.

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

Institutional Investors Weigh In On Palomar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dakota Wealth Management increased its holdings in Palomar by 3.1% in the 4th quarter. Dakota Wealth Management now owns 3,070 shares of the company’s stock worth $324,000 after acquiring an additional 92 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Palomar by 0.7% in the 4th quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company’s stock worth $1,588,000 after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System boosted its stake in Palomar by 0.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company’s stock worth $1,352,000 after purchasing an additional 100 shares during the period. GAMMA Investing LLC boosted its stake in Palomar by 48.6% in the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $36,000 after purchasing an additional 125 shares during the period. Finally, Covestor Ltd boosted its stake in Palomar by 20.2% in the 3rd quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after purchasing an additional 181 shares during the period. 90.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLMR has been the topic of several research analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Piper Sandler upped their target price on shares of Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. upped their price target on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group upped their price target on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Three 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 currently has an average rating of “Moderate Buy” and a consensus price target of $115.50.

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.