Jon Christianson Sells 478 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 478 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $108.34, for a total value of $51,786.52. Following the completion of the transaction, the president now owns 56,619 shares in the company, valued at $6,134,102.46. This represents a 0.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Sunday, January 26th, Jon Christianson sold 371 shares of Palomar stock. The shares were sold at an average price of $101.69, for a total transaction of $37,726.99.
• 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 Stock Performance

PLMR opened at $107.87 on Monday. The firm has a market cap of $2.86 billion, a P/E ratio of 25.62 and a beta of 0.38. The business has a 50 day moving average price of $106.93 and a 200 day moving average price of $99.45. Palomar Holdings, Inc. has a twelve month low of $57.55 and a twelve month high of $112.90.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.20. Palomar had a net margin of 21.55% and a return on equity of 19.65%. The business had revenue of $148.50 million during the quarter, compared to analysts’ expectations of $134.72 million. During the same period in the previous year, the company earned $0.80 earnings per share. As a group, analysts anticipate that Palomar Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new stake in Palomar during the third quarter valued at about $10,994,000. Soros Fund Management LLC acquired a new stake in Palomar in the 3rd quarter valued at approximately $9,467,000. Westfield Capital Management Co. LP increased its position in Palomar by 24.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company’s stock worth $37,339,000 after buying an additional 77,552 shares during the period. Artemis Investment Management LLP lifted its holdings 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 worth $48,052,000 after buying an additional 71,806 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Palomar by 9,367.0% in the third quarter. International Assets Investment Management LLC now owns 57,654 shares of the company’s stock valued at $5,458,000 after acquiring an additional 57,045 shares during the period. Institutional investors own 90.25% of the company’s stock.

Wall Street Analyst Weigh In

PLMR has been the topic of a number of recent research reports. Keefe, Bruyette & Woods boosted their target price on Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. 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. Jefferies Financial Group raised their price objective 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. Finally, JPMorgan Chase & Co. boosted their target price 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. 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, Palomar has an average rating of “Moderate Buy” and a consensus target price 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.