Palomar Holdings, Inc. (NASDAQ:PLMR) President Sells $51,786.52 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 478 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $108.34, for a total transaction of $51,786.52. Following the completion of the sale, the president now directly owns 56,619 shares in the company, valued at approximately $6,134,102.46. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Sunday, January 26th, Jon Christianson sold 371 shares of Palomar stock. The shares were sold at an average price of $101.69, for a total transaction of $37,726.99.
• On Wednesday, January 1st, Jon Christianson sold 819 shares of Palomar stock. The stock was sold at an average price of $105.86, for a total value 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 value of $228,499.50.

Palomar Price Performance

Shares of PLMR opened at $107.87 on Monday. The stock has a market capitalization of $2.86 billion, a P/E ratio of 25.62 and a beta of 0.38. Palomar Holdings, Inc. has a 12-month low of $57.55 and a 12-month high of $112.90. The firm’s 50 day moving average is $106.93 and its 200-day moving average is $99.45.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.23 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $134.72 million. During the same quarter in the prior year, the company earned $0.80 earnings per share. As a group, equities research analysts forecast that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Piper Sandler increased their price target on Palomar from $119.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Keefe, Bruyette & Woods raised their target price on shares of Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. upped their price target on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $115.50.

Hedge Funds Weigh In On Palomar

A number of hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund lifted its holdings in shares of Palomar by 7.1% during the fourth quarter. New York State Common Retirement Fund now owns 15,177 shares of the company’s stock valued at $1,603,000 after purchasing an additional 1,000 shares during the last quarter. Peregrine Capital Management LLC lifted its stake in Palomar by 1.8% during the fourth quarter. Peregrine Capital Management LLC now owns 91,650 shares of the company’s stock valued at $9,677,000 after buying an additional 1,645 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Palomar by 5.6% in the fourth quarter. Principal Financial Group Inc. now owns 147,540 shares of the company’s stock worth $15,579,000 after buying an additional 7,875 shares during the period. Rhumbline Advisers increased its position in shares of Palomar by 1.8% in the fourth quarter. Rhumbline Advisers now owns 69,049 shares of the company’s stock worth $7,291,000 after acquiring an additional 1,221 shares in the last quarter. Finally, Blue Trust Inc. acquired a new stake in shares of Palomar during the fourth quarter valued at approximately $26,000. 90.25% of the stock is currently 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.