Palomar Holdings, Inc. (NASDAQ:PLMR) President Sells $228,499.50 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 2,195 shares of the firm’s stock in a transaction dated 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 transaction, the president now directly owns 51,926 shares in the company, valued at approximately $5,405,496.60. The trade was a 4.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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 value 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 transaction 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 value of $944,000.00.

Palomar Trading Up 3.3 %

Palomar stock opened at $104.33 on Friday. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 24.78 and a beta of 0.34. The firm has a 50 day simple moving average of $95.42 and a 200 day simple moving average of $89.86. Palomar Holdings, Inc. has a 1-year low of $54.50 and a 1-year high of $107.00.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $134.72 million. During the same period in the previous year, the business earned $0.80 earnings per share. On average, equities research analysts forecast that Palomar Holdings, Inc. will post 4.32 EPS for the current year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Palomar

Several hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of Palomar by 48.6% in the third 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. Arizona State Retirement System grew its position in Palomar by 2.4% during the second quarter. Arizona State Retirement System now owns 6,961 shares of the company’s stock worth $565,000 after buying an additional 164 shares in the last quarter. Covestor Ltd increased its stake in Palomar by 20.2% in the 3rd quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after acquiring an additional 181 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Palomar by 1.6% in the 3rd quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the company’s stock worth $1,202,000 after acquiring an additional 200 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of Palomar by 15.7% in the 2nd quarter. CWM LLC now owns 1,601 shares of the company’s stock valued at $130,000 after acquiring an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

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.