Jon Christianson Sells 371 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) 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 transaction of $37,726.99. Following the completion of the transaction, the president now directly owns 55,771 shares of the company’s stock, valued at approximately $5,671,352.99. This trade represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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 shares were sold at an average price of $104.10, for a total transaction of $228,499.50.

Palomar Trading Down 1.1 %

NASDAQ PLMR opened at $107.44 on Friday. Palomar Holdings, Inc. has a 52 week low of $57.55 and a 52 week high of $112.90. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 25.52 and a beta of 0.38. The company has a 50-day moving average price of $106.96 and a two-hundred day moving average price of $99.21.

Palomar (NASDAQ:PLMR) last posted its earnings results on Monday, November 4th. The company reported $1.23 EPS 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 net margin of 21.55% and a return on equity of 19.65%. During the same quarter in the prior year, the firm earned $0.80 EPS. As a group, equities research analysts expect that Palomar Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on PLMR. Keefe, Bruyette & Woods increased their price target on shares of Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Jefferies Financial Group raised 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. Piper Sandler raised their target price on shares of Palomar from $119.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, 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 report on Thursday, November 7th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $115.50.

Institutional Trading of Palomar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. lifted its position in shares of Palomar by 22.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 30,870 shares of the company’s stock valued at $2,505,000 after acquiring an additional 5,646 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Palomar by 15.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 508,870 shares of the company’s stock valued at $41,295,000 after buying an additional 66,478 shares during the period. Sei Investments Co. increased its stake in Palomar by 12.0% in the 2nd quarter. Sei Investments Co. now owns 82,338 shares of the company’s stock valued at $6,682,000 after buying an additional 8,837 shares during the period. Cubist Systematic Strategies LLC increased its stake in Palomar by 4.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 37,833 shares of the company’s stock valued at $3,070,000 after buying an additional 1,444 shares during the period. Finally, AQR Capital Management LLC increased its stake in Palomar by 17.7% in the 2nd quarter. AQR Capital Management LLC now owns 44,691 shares of the company’s stock valued at $3,627,000 after buying an additional 6,735 shares during the period. 90.25% of the stock is owned by institutional investors and hedge funds.

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.