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

by · The Markets Daily

Palomar Holdings, Inc. (NASDAQ:PLMR – Get Free Report) President Jon Christianson sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $98.45, for a total value of $196,900.00. Following the completion of the sale, the president now owns 51,926 shares in the company, valued at $5,112,114.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Friday, October 4th, Jon Christianson sold 3,805 shares of Palomar stock. The stock was sold at an average price of $103.04, for a total value of $392,067.20.
  • On Friday, September 6th, Jon Christianson sold 10,000 shares of Palomar stock. The shares were sold at an average price of $94.40, for a total transaction of $944,000.00.

Palomar Price Performance

Shares of NASDAQ:PLMR opened at $97.40 on Friday. The business’s 50 day moving average price is $95.69 and its 200-day moving average price is $87.72. Palomar Holdings, Inc. has a 1 year low of $48.08 and a 1 year high of $103.40. The firm has a market capitalization of $2.43 billion, a PE ratio of 27.99 and a beta of 0.33.

Palomar (NASDAQ:PLMR – Get Free Report) last released its earnings results on Monday, August 5th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.16. The business had revenue of $123.08 million during the quarter, compared to analyst estimates of $338.74 million. Palomar had a net margin of 21.63% and a return on equity of 20.83%. The company’s revenue for the quarter was up 47.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 earnings per share. As a group, analysts expect that Palomar Holdings, Inc. will post 4.37 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on PLMR shares. Piper Sandler raised their price target on shares of Palomar from $99.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Keefe, Bruyette & Woods raised their target price on Palomar from $96.00 to $113.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. Jefferies Financial Group upped their price target on Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price objective on Palomar from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Finally, Truist Financial upped their target price on Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.50.

Read Our Latest Stock Report on PLMR

Institutional Trading of Palomar

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in shares of Palomar by 48.6% during the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $36,000 after purchasing an additional 125 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Palomar during the second quarter worth $49,000. DekaBank Deutsche Girozentrale purchased a new stake in Palomar in the 1st quarter valued at $59,000. Advisors Asset Management Inc. increased its stake in shares of Palomar by 137.1% in the 1st quarter. Advisors Asset Management Inc. now owns 735 shares of the company’s stock worth $62,000 after acquiring an additional 425 shares during the last quarter. Finally, Atwood & Palmer Inc. raised its holdings in shares of Palomar by 66.7% during the 1st quarter. Atwood & Palmer Inc. now owns 750 shares of the company’s stock worth $63,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Palomar Company Profile

(Get Free Report)

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.

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