Insider Selling: Palomar Holdings, Inc. (NASDAQ:PLMR) President Sells 2,000 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $98.45, for a total transaction of $196,900.00. Following the completion of the transaction, the president now owns 51,926 shares in the company, valued at $5,112,114.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Friday, October 4th, Jon Christianson sold 3,805 shares of Palomar stock. The shares were sold at an average price of $103.04, for a total transaction of $392,067.20.
• On Friday, September 6th, Jon Christianson sold 10,000 shares of Palomar stock. The shares were sold at an average price of $94.40, for a total transaction of $944,000.00.

Palomar Stock Down 0.2 %

NASDAQ:PLMR opened at $98.02 on Thursday. Palomar Holdings, Inc. has a twelve month low of $48.08 and a twelve month high of $103.40. The stock’s 50-day simple moving average is $95.60 and its 200 day simple moving average is $87.66. The firm has a market capitalization of $2.44 billion, a PE ratio of 28.17 and a beta of 0.33.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Monday, August 5th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.16. The company had revenue of $123.08 million for the quarter, compared to the consensus estimate of $338.74 million. Palomar had a net margin of 21.63% and a return on equity of 20.83%. The firm’s quarterly revenue was up 47.0% compared to the same quarter last year. During the same period last year, the company posted $0.72 EPS. On average, analysts anticipate that Palomar Holdings, Inc. will post 4.37 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on PLMR. Truist Financial raised their price objective on Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Jefferies Financial Group raised their price target on Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI boosted their price target on Palomar from $90.00 to $99.00 and gave the company an “in-line” rating in a research note on Tuesday, August 6th. Keefe, Bruyette & Woods increased their price objective on shares of Palomar from $96.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Finally, Piper Sandler boosted their target price on shares of Palomar from $99.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $105.50.

Institutional Trading of Palomar

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in shares of Palomar by 48.6% during the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after acquiring an additional 125 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Palomar during the second quarter valued at about $49,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Palomar during the first quarter valued at about $59,000. Advisors Asset Management Inc. grew its holdings in shares of Palomar by 137.1% during the first quarter. Advisors Asset Management Inc. now owns 735 shares of the company’s stock worth $62,000 after purchasing an additional 425 shares during the last quarter. Finally, Atwood & Palmer Inc. increased its stake in shares of Palomar by 66.7% in the first quarter. Atwood & Palmer Inc. now owns 750 shares of the company’s stock valued at $63,000 after buying an additional 300 shares during the period. Institutional investors own 90.25% of the company’s stock.

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.