Palomar Holdings, Inc. (NASDAQ:PLMR) President Sells $37,205.56 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 356 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $104.51, for a total value of $37,205.56. Following the sale, the president now directly owns 57,259 shares of the company’s stock, valued at approximately $5,984,138.09. This represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, January 29th, Jon Christianson sold 478 shares of Palomar stock. The shares were sold at an average price of $108.34, for a total value of $51,786.52.
• On Sunday, January 26th, Jon Christianson sold 371 shares of Palomar stock. The stock was sold at an average price of $101.69, for a total value of $37,726.99.
• On Wednesday, January 1st, Jon Christianson sold 819 shares of Palomar stock. The stock was sold at an average price of $105.86, for a total transaction of $86,699.34.
• On Monday, November 11th, Jon Christianson sold 2,195 shares of Palomar stock. The shares were sold at an average price of $104.10, for a total transaction of $228,499.50.

Palomar Trading Up 1.2 %

NASDAQ PLMR opened at $110.73 on Friday. Palomar Holdings, Inc. has a 1-year low of $57.68 and a 1-year high of $112.90. The firm’s fifty day simple moving average is $106.87 and its 200-day simple moving average is $99.82. The company has a market capitalization of $2.93 billion, a PE ratio of 26.30 and a beta of 0.38.

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

Analyst Upgrades and Downgrades

PLMR has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler lifted their price target on Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods increased their price objective on Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $115.50.

Institutional Investors Weigh In On Palomar

Several large investors have recently made changes to their positions in the company. Dakota Wealth Management raised its position in Palomar by 3.1% during the fourth quarter. Dakota Wealth Management now owns 3,070 shares of the company’s stock valued at $324,000 after acquiring an additional 92 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Palomar by 0.7% during the 4th 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 last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Palomar by 0.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company’s stock valued at $1,352,000 after purchasing an additional 100 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Palomar by 48.6% in the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after purchasing an additional 125 shares during the last quarter. Finally, Covestor Ltd boosted its holdings 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 in the last quarter. Institutional investors own 90.25% of the company’s stock.

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.