Jon Christianson Sells 2,195 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 2,195 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $104.10, for a total transaction of $228,499.50. Following the completion of the sale, the president now directly owns 51,926 shares of the company’s stock, valued at $5,405,496.60. This trade represents a 4.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• 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 transaction of $196,900.00.
• On Friday, October 4th, Jon Christianson sold 3,805 shares of Palomar stock. The stock was sold at an average price of $103.04, for a total value of $392,067.20.
• On Friday, September 6th, Jon Christianson sold 10,000 shares of Palomar stock. The stock was sold at an average price of $94.40, for a total transaction of $944,000.00.

Palomar Stock Up 3.3 %

NASDAQ PLMR opened at $104.33 on Friday. The firm has a market capitalization of $2.76 billion, a P/E ratio of 24.78 and a beta of 0.34. The company has a 50-day moving average price of $95.42 and a 200-day moving average price of $89.86. Palomar Holdings, Inc. has a 52 week low of $54.50 and a 52 week high of $107.00.

Palomar (NASDAQ:PLMR) last announced its earnings results on Monday, November 4th. The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.20. Palomar had a return on equity of 19.65% and a net margin of 21.55%. The company had revenue of $148.50 million for the quarter, compared to analysts’ expectations of $134.72 million. During the same period last year, the firm earned $0.80 EPS. As a group, equities research analysts anticipate that Palomar Holdings, Inc. will post 4.32 EPS for the current year.

Hedge Funds Weigh In On Palomar

Several large investors have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Palomar during the 3rd quarter valued at $25,000. 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. Farther Finance Advisors LLC grew its holdings in Palomar by 490.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $43,000 after buying an additional 378 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Palomar during the second quarter valued at approximately $49,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Palomar in the first quarter worth $59,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PLMR shares. Truist Financial lifted their target price on shares of Palomar from $100.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Keefe, Bruyette & Woods boosted their price objective on shares of Palomar from $117.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Evercore ISI increased their target price on Palomar from $90.00 to $99.00 and gave the company an “in-line” rating in a research note on Tuesday, August 6th. Jefferies Financial Group upped their price target on Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their price target on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $109.00.

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.