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

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 819 shares of the company’s stock in a transaction on Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total value of $86,699.34. Following the transaction, the president now owns 55,126 shares in the company, valued at $5,835,638.36. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 value of $228,499.50.
• On Tuesday, October 15th, Jon Christianson sold 2,000 shares of Palomar stock. The shares were sold at an average price of $98.45, for a total value of $196,900.00.

Palomar Price Performance

NASDAQ:PLMR opened at $104.81 on Monday. Palomar Holdings, Inc. has a 12 month low of $54.81 and a 12 month high of $112.90. The firm has a market capitalization of $2.77 billion, a PE ratio of 24.90 and a beta of 0.38. The business’s fifty day moving average price is $103.86 and its 200 day moving average price is $96.06.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Monday, November 4th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.20. The business had revenue of $148.50 million for the quarter, compared to the consensus estimate of $134.72 million. Palomar had a return on equity of 19.65% and a net margin of 21.55%. During the same quarter in the prior year, the business posted $0.80 EPS. As a group, equities analysts anticipate that Palomar Holdings, Inc. will post 4.33 EPS for the current year.

Institutional Trading of Palomar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Palomar in the 3rd quarter valued at $25,000. GAMMA Investing LLC boosted its stake in Palomar by 48.6% in the third 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. Farther Finance Advisors LLC boosted its stake in Palomar by 490.9% in the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $43,000 after acquiring an additional 378 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Palomar during the second quarter worth about $49,000. Finally, Covestor Ltd increased its position in shares of Palomar by 20.2% during the third quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after purchasing an additional 181 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. 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 note on Wednesday, October 9th. 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. Piper Sandler increased their price objective on Palomar from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. boosted their target price on Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Palomar currently has a consensus rating of “Moderate Buy” and an average price target of $111.67.

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.