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 Palomar stock in a transaction that occurred on Sunday, January 26th. The shares were sold at an average price of $101.70, for a total transaction of $72,918.90. Following the completion of the transaction, the insider now owns 2,951 shares of the company’s stock, valued at $300,116.70. This trade represents a 19.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Palomar Trading Down 0.6 %

Shares of Palomar stock opened at $108.63 on Thursday. The company has a 50-day moving average of $106.96 and a two-hundred day moving average of $99.14. The stock has a market cap of $2.88 billion, a PE ratio of 25.80 and a beta of 0.38. Palomar Holdings, Inc. has a 12-month low of $57.55 and a 12-month high of $112.90.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.20. The firm had revenue of $148.50 million during the quarter, compared to analysts’ expectations of $134.72 million. Palomar had a return on equity of 19.65% and a net margin of 21.55%. During the same period in the previous year, the firm posted $0.80 earnings per share. On average, sell-side analysts forecast that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Palomar

Several institutional investors and hedge funds have recently made changes to their positions in PLMR. Dakota Wealth Management boosted its stake in shares of 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 during the last quarter. State of Alaska Department of Revenue lifted its holdings in Palomar by 0.7% in the 4th quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company’s stock valued at $1,588,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake 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 worth $1,352,000 after purchasing an additional 100 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Palomar by 48.6% during the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $36,000 after buying an additional 125 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Palomar by 20.2% in the third quarter. Covestor Ltd now owns 1,076 shares of the company’s stock valued at $102,000 after buying an additional 181 shares during the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

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.