Insider Selling: Palomar Holdings, Inc. (NASDAQ:PLMR) President Sells 2,000 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $76.30, for a total value of $152,600.00. Following the sale, the president now directly owns 57,761 shares of the company’s stock, valued at $4,407,164.30. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Thursday, March 14th, Jon Christianson sold 10,000 shares of Palomar stock. The stock was sold at an average price of $82.09, for a total value of $820,900.00.
• On Wednesday, February 14th, Jon Christianson sold 2,000 shares of Palomar stock. The stock was sold at an average price of $60.00, for a total value of $120,000.00.
• On Wednesday, January 31st, Jon Christianson sold 356 shares of Palomar stock. The stock was sold at an average price of $59.19, for a total value of $21,071.64.
• On Friday, January 26th, Jon Christianson sold 423 shares of Palomar stock. The stock was sold at an average price of $60.13, for a total value of $25,434.99.

Palomar Stock Up 1.1 %

PLMR opened at $77.77 on Friday. The firm has a market capitalization of $1.94 billion, a P/E ratio of 24.93 and a beta of 0.21. The stock’s 50 day moving average price is $76.59 and its two-hundred day moving average price is $63.86. Palomar Holdings, Inc. has a 12-month low of $46.09 and a 12-month high of $86.25.

Palomar (NASDAQ:PLMR) last released its earnings results on Wednesday, February 14th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.09. The firm had revenue of $102.35 million for the quarter, compared to analyst estimates of $95.07 million. Palomar had a return on equity of 19.35% and a net margin of 21.07%. As a group, analysts anticipate that Palomar Holdings, Inc. will post 3.84 earnings per share for the current year.

Institutional Trading of Palomar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS Group AG grew its holdings in Palomar by 7,440.0% in the 3rd quarter. UBS Group AG now owns 377 shares of the company’s stock valued at $32,000 after buying an additional 372 shares during the last quarter. Signaturefd LLC grew its holdings in Palomar by 59.4% in the 4th quarter. Signaturefd LLC now owns 593 shares of the company’s stock valued at $33,000 after buying an additional 221 shares during the last quarter. Atwood & Palmer Inc. grew its holdings in Palomar by 66.7% in the 1st quarter. Atwood & Palmer Inc. now owns 750 shares of the company’s stock valued at $63,000 after buying an additional 300 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Palomar in the 1st quarter valued at approximately $55,000. Finally, FMR LLC grew its holdings in shares of Palomar by 89.9% during the 1st quarter. FMR LLC now owns 864 shares of the company’s stock worth $48,000 after purchasing an additional 409 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised their price target on Palomar from $88.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Jefferies Financial Group raised Palomar from a “hold” rating to a “buy” rating and raised their price target for the stock from $78.00 to $88.00 in a research note on Thursday, March 14th. Truist Financial raised their price objective on Palomar from $72.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, February 16th. JMP Securities reissued a “market perform” rating on shares of Palomar in a research note on Monday. Finally, Evercore ISI raised their price objective on Palomar from $68.00 to $86.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.50.

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.