Angela L. Grant Sells 717 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) insider Angela L. Grant sold 717 shares of the stock in a transaction that occurred on Sunday, January 26th. The shares were sold at an average price of $101.70, for a total value of $72,918.90. Following the transaction, the insider now owns 2,951 shares of the company’s stock, valued at $300,116.70. This represents a 19.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Palomar Stock Down 1.1 %

Shares of PLMR opened at $107.44 on Friday. The company has a market cap of $2.84 billion, a PE ratio of 25.52 and a beta of 0.38. The business has a fifty day moving average of $106.96 and a 200 day moving average of $99.21. Palomar Holdings, Inc. has a 52-week low of $57.55 and a 52-week high of $112.90.

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

Institutional Trading of Palomar

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dakota Wealth Management increased its stake in Palomar by 3.1% in the fourth quarter. Dakota Wealth Management now owns 3,070 shares of the company’s stock worth $324,000 after purchasing an additional 92 shares during the period. State of Alaska Department of Revenue increased its stake in Palomar by 0.7% in the fourth quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company’s stock worth $1,588,000 after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System increased its stake in Palomar by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company’s stock worth $1,352,000 after purchasing an additional 100 shares during the period. GAMMA Investing LLC increased its stake in Palomar by 48.6% in the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $36,000 after purchasing an additional 125 shares during the period. Finally, Covestor Ltd increased its stake in Palomar by 20.2% in the third quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after purchasing an additional 181 shares during the period. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Wall Street Analysts Forecast Growth

PLMR has been the subject of a number of research reports. Piper Sandler increased their target price on Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods increased their target price on Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Jefferies Financial Group increased their target price on Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. increased their target price on Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

About Palomar

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.