Angela L. Grant Sells 394 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) insider Angela L. Grant sold 394 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $108.34, for a total value of $42,685.96. Following the sale, the insider now directly owns 4,485 shares in the company, valued at approximately $485,904.90. This represents a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Palomar Trading Up 0.4 %

Shares of PLMR stock opened at $107.87 on Friday. The firm has a market capitalization of $2.86 billion, a P/E ratio of 25.62 and a beta of 0.38. The firm’s fifty day moving average price is $106.94 and its two-hundred day moving average price is $99.27. Palomar Holdings, Inc. has a 1 year low of $57.55 and a 1 year high of $112.90.

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Palomar

A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Palomar by 3.0% in the 3rd quarter. State Street Corp now owns 1,097,702 shares of the company’s stock valued at $103,919,000 after acquiring an additional 32,151 shares during the period. Geode Capital Management LLC lifted its stake in Palomar by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock valued at $56,822,000 after purchasing an additional 18,335 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Palomar by 9.5% during the third quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company’s stock worth $12,133,000 after purchasing an additional 11,140 shares during the period. Thrivent Financial for Lutherans grew its holdings in Palomar by 58.7% during the third quarter. Thrivent Financial for Lutherans now owns 32,837 shares of the company’s stock worth $3,109,000 after purchasing an additional 12,147 shares during the period. Finally, HighTower Advisors LLC acquired a new position in Palomar during the third quarter worth approximately $1,711,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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.