Jon Christianson Sells 819 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

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

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 stock was sold at an average price of $98.45, for a total value of $196,900.00.

Palomar Trading Up 0.4 %

Shares of NASDAQ PLMR opened at $104.81 on Friday. The firm’s 50-day moving average price is $103.86 and its 200-day moving average price is $95.96. The firm has a market capitalization of $2.77 billion, a P/E ratio of 24.90 and a beta of 0.36. Palomar Holdings, Inc. has a 1-year low of $54.81 and a 1-year high of $112.90.

Palomar (NASDAQ:PLMR) last announced 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. Palomar had a return on equity of 19.65% and a net margin of 21.55%. The firm had revenue of $148.50 million during the quarter, compared to analysts’ expectations of $134.72 million. During the same quarter last year, the firm posted $0.80 earnings per share. Equities research analysts forecast 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 bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in shares of Palomar by 9.5% during the third quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company’s stock valued at $12,133,000 after buying an additional 11,140 shares during the last quarter. Hohimer Wealth Management LLC bought a new position in Palomar in the 3rd quarter valued at about $224,000. Geode Capital Management LLC boosted its stake in Palomar by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock valued at $56,822,000 after purchasing an additional 18,335 shares during the last quarter. Barclays PLC increased its holdings in Palomar by 112.6% during the 3rd quarter. Barclays PLC now owns 71,803 shares of the company’s stock worth $6,798,000 after purchasing an additional 38,027 shares in the last quarter. Finally, Soros Fund Management LLC purchased a new stake in shares of Palomar in the third quarter worth approximately $9,467,000. Institutional investors own 90.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PLMR shares. Jefferies Financial Group boosted their price target 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 boosted their target price on shares of Palomar from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 8th. JPMorgan Chase & Co. increased their price target on Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.