Palomar (NASDAQ:PLMR) Insider Jonathan Knutzen Sells 1,535 Shares of Stock

by · The Markets Daily

Palomar Holdings, Inc. (NASDAQ:PLMR – Get Free Report) insider Jonathan Knutzen sold 1,535 shares of Palomar stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $119.88, for a total transaction of $184,015.80. Following the sale, the insider directly owned 24,809 shares in the company, valued at approximately $2,974,102.92. This trade represents a 5.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Jonathan Knutzen also recently made the following trade(s):

  • On Tuesday, November 18th, Jonathan Knutzen sold 281 shares of Palomar stock. The stock was sold at an average price of $128.84, for a total transaction of $36,204.04.

Palomar Trading Up 0.3%

PLMR stock traded up $0.38 during mid-day trading on Friday, reaching $123.59. The company’s stock had a trading volume of 266,025 shares, compared to its average volume of 191,596. The stock has a market cap of $3.28 billion, a PE ratio of 19.28 and a beta of 0.42. The company’s 50 day moving average is $127.64 and its two-hundred day moving average is $124.07. Palomar Holdings, Inc. has a fifty-two week low of $104.47 and a fifty-two week high of $175.85.

Palomar (NASDAQ:PLMR – Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.45. Palomar had a return on equity of 21.93% and a net margin of 22.59%.The firm had revenue of $244.66 million for the quarter, compared to the consensus estimate of $207.98 million. During the same quarter last year, the business posted $1.23 earnings per share. On average, analysts forecast that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PLMR. Allworth Financial LP raised its position in Palomar by 1,970.0% during the 2nd quarter. Allworth Financial LP now owns 207 shares of the company’s stock worth $32,000 after buying an additional 197 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in Palomar in the third quarter valued at about $25,000. Richardson Financial Services Inc. increased its position in Palomar by 210.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 217 shares of the company’s stock worth $25,000 after purchasing an additional 147 shares during the period. Geneos Wealth Management Inc. purchased a new position in shares of Palomar during the 4th quarter worth approximately $32,000. Finally, Hollencrest Capital Management lifted its holdings in shares of Palomar by 56.5% in the 2nd quarter. Hollencrest Capital Management now owns 313 shares of the company’s stock valued at $48,000 after buying an additional 113 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Weiss Ratings upgraded Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 14th. Wall Street Zen upgraded shares of Palomar from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. JPMorgan Chase & Co. increased their target price on shares of Palomar from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods upped their price objective on Palomar from $170.00 to $171.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $159.50.

Get Our Latest Research Report on PLMR

Palomar Company Profile

(Get Free Report)

Palomar Holdings, Inc (NASDAQ: PLMR) is a specialty insurance holding company focused on providing medical stop-loss coverage and related administrative services to self-funded employer health plans in the United States. The firm operates through two primary business segments—Medical Stop-Loss and Specialty Program Management—to deliver tailored risk protection and comprehensive program administration.

In its Medical Stop-Loss segment, Palomar underwrites excess and aggregate stop-loss policies designed to shield self-insured employers from catastrophic medical claims that exceed pre-determined retention levels.

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