Insider Selling: Palomar Holdings, Inc. (NASDAQ:PLMR) President Sells 356 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 356 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $104.51, for a total value of $37,205.56. Following the transaction, the president now directly owns 57,259 shares in the company, valued at approximately $5,984,138.09. This represents a 0.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Wednesday, January 29th, Jon Christianson sold 478 shares of Palomar stock. The stock was sold at an average price of $108.34, for a total transaction of $51,786.52.
• 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 transaction of $86,699.34.
• On Monday, November 11th, Jon Christianson sold 2,195 shares of Palomar stock. The stock was sold at an average price of $104.10, for a total transaction of $228,499.50.

Palomar Stock Down 0.3 %

PLMR opened at $106.74 on Wednesday. The stock’s fifty day moving average is $106.89 and its two-hundred day moving average is $99.63. The company has a market capitalization of $2.83 billion, a P/E ratio of 25.35 and a beta of 0.38. Palomar Holdings, Inc. has a 52 week low of $57.55 and a 52 week high of $112.90.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.03 by $0.20. The firm had revenue of $148.50 million for the quarter, compared to analyst estimates of $134.72 million. Palomar had a return on equity of 19.65% and a net margin of 21.55%. During the same quarter last year, the firm posted $0.80 earnings per share. Equities analysts anticipate that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

PLMR has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler boosted their price objective on Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Jefferies Financial Group increased their target price on Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods boosted 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. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Palomar in the 3rd quarter valued at about $25,000. Blue Trust Inc. bought a new position in shares of Palomar during the fourth quarter valued at approximately $26,000. GAMMA Investing LLC increased its holdings in Palomar by 48.6% during the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after buying an additional 125 shares during the period. Farther Finance Advisors LLC raised its stake in Palomar by 490.9% in the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $43,000 after buying an additional 378 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in Palomar by 20.2% during the third quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after buying an additional 181 shares during the period. 90.25% of the stock is currently owned by institutional investors.

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.