Jon Christianson Sells 2,195 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 2,195 shares of Palomar stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $104.10, for a total value of $228,499.50. Following the completion of the transaction, the president now directly owns 51,926 shares in the company, valued at $5,405,496.60. This represents a 0.00 % 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 Tuesday, October 15th, Jon Christianson sold 2,000 shares of Palomar stock. The shares were sold at an average price of $98.45, for a total value of $196,900.00.
• On Friday, October 4th, Jon Christianson sold 3,805 shares of Palomar stock. The shares were 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 value of $944,000.00.

Palomar Stock Up 0.3 %

PLMR stock opened at $101.00 on Thursday. Palomar Holdings, Inc. has a 52-week low of $54.50 and a 52-week high of $107.00. The stock’s 50 day moving average is $95.36 and its two-hundred day moving average is $89.79. The company has a market capitalization of $2.67 billion, a PE ratio of 23.99 and a beta of 0.34.

Palomar (NASDAQ:PLMR) last posted 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. 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 the consensus estimate of $134.72 million. During the same period in the previous year, the business earned $0.80 EPS. As a group, sell-side analysts anticipate that Palomar Holdings, Inc. will post 4.32 EPS for the current year.

Institutional Investors Weigh In On Palomar

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Palomar in the 3rd quarter valued at approximately $25,000. GAMMA Investing LLC increased its holdings 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 acquiring an additional 125 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Palomar by 490.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $43,000 after acquiring an additional 378 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Palomar in the 2nd quarter valued at approximately $49,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Palomar in the 1st quarter valued at approximately $59,000. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Piper Sandler lifted their price objective on Palomar from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Evercore ISI boosted their price target on Palomar from $90.00 to $99.00 and gave the stock an “in-line” rating in a research report on Tuesday, August 6th. Truist Financial boosted their price target on Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Jefferies Financial Group boosted their price target on Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. boosted their price target on Palomar from $93.00 to $100.00 and gave the stock 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.00.

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.