Palomar Holdings, Inc. (NASDAQ:PLMR) President Sells $152,600.00 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $76.30, for a total transaction of $152,600.00. Following the transaction, the president now directly owns 57,761 shares of the company’s stock, valued at approximately $4,407,164.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, March 14th, Jon Christianson sold 10,000 shares of Palomar stock. The shares were sold at an average price of $82.09, for a total transaction of $820,900.00.
• On Wednesday, February 14th, Jon Christianson sold 2,000 shares of Palomar stock. The shares were 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 shares were sold at an average price of $60.13, for a total value of $25,434.99.

Palomar Price Performance

Shares of PLMR stock opened at $79.22 on Friday. The company’s fifty day moving average price is $76.95 and its two-hundred day moving average price is $64.17. The firm has a market capitalization of $1.97 billion, a P/E ratio of 25.39 and a beta of 0.21. 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 quarterly earnings results on Wednesday, February 14th. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.85 by $0.09. Palomar had a return on equity of 19.35% and a net margin of 21.07%. The business had revenue of $102.35 million for the quarter, compared to analysts’ expectations of $95.07 million. On average, sell-side analysts anticipate that Palomar Holdings, Inc. will post 3.84 EPS for the current year.

Wall Street Analyst Weigh In

PLMR has been the topic of several research reports. Evercore ISI raised their price target on shares of Palomar from $68.00 to $86.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Truist Financial lifted their target price on shares of Palomar from $72.00 to $88.00 and gave the company a “buy” rating in a report on Friday, February 16th. JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a research report on Monday, April 15th. JPMorgan Chase & Co. lowered Palomar from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $79.00 to $85.00 in a research report on Monday, April 8th. Finally, Piper Sandler upped their target price on Palomar from $80.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $87.50.

Hedge Funds Weigh In On Palomar

Several institutional investors and hedge funds have recently made changes to their positions in PLMR. Allspring Global Investments Holdings LLC acquired a new stake in Palomar in the first quarter valued at $4,417,000. Diversified Trust Co grew its position in Palomar by 35.7% in the 1st quarter. Diversified Trust Co now owns 11,400 shares of the company’s stock valued at $956,000 after buying an additional 3,000 shares in the last quarter. Artemis Investment Management LLP acquired a new position in Palomar during the 1st quarter valued at about $20,904,000. Atwood & Palmer Inc. raised its position 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 buying an additional 300 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Palomar in the 4th quarter worth approximately $493,000. 90.25% of the stock is currently owned by hedge funds and other 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.