Insider Selling: Palomar Holdings, Inc. (NASDAQ:PLMR) President Sells 819 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 819 shares of the business’s stock in a transaction that occurred on Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total transaction of $86,699.34. Following the transaction, the president now owns 55,126 shares of the company’s stock, valued at approximately $5,835,638.36. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $98.45, for a total value of $196,900.00.

Palomar Stock Performance

Shares of Palomar stock traded up $0.43 on Friday, hitting $104.81. The stock had a trading volume of 74,754 shares, compared to its average volume of 92,577. The stock has a 50 day moving average of $103.86 and a 200 day moving average of $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 twelve month low of $54.81 and a twelve month high of $112.90.

Palomar (NASDAQ:PLMR) last announced 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. The firm had revenue of $148.50 million during the quarter, compared to analysts’ expectations of $134.72 million. Palomar had a net margin of 21.55% and a return on equity of 19.65%. During the same period in the prior year, the company posted $0.80 EPS. Equities analysts expect that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.

Institutional Trading of Palomar

A number of institutional investors and hedge funds have recently bought and sold shares of PLMR. JPMorgan Chase & Co. lifted its holdings in Palomar by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company’s stock worth $12,133,000 after buying an additional 11,140 shares during the period. Hohimer Wealth Management LLC bought a new position in shares of Palomar during the third quarter worth about $224,000. Geode Capital Management LLC lifted its stake in shares of Palomar by 3.2% in the third quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock worth $56,822,000 after acquiring an additional 18,335 shares during the period. Barclays PLC boosted its holdings in Palomar by 112.6% in the third quarter. Barclays PLC now owns 71,803 shares of the company’s stock valued at $6,798,000 after acquiring an additional 38,027 shares during the last quarter. Finally, Soros Fund Management LLC acquired a new stake in Palomar during the 3rd quarter valued at approximately $9,467,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on PLMR. Keefe, Bruyette & Woods lifted their target price on Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Piper Sandler lifted their price target 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 objective on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group raised their target price on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $111.67.

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.