Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson Sells 371 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 371 shares of the stock in a transaction that occurred on Sunday, January 26th. The shares were sold at an average price of $101.69, for a total transaction of $37,726.99. Following the completion of the sale, the president now owns 55,771 shares in the company, valued at $5,671,352.99. This represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 Stock Performance

Shares of NASDAQ:PLMR traded up $3.05 during trading on Tuesday, reaching $109.29. The stock had a trading volume of 82,976 shares, compared to its average volume of 138,240. The firm’s fifty day moving average is $106.96 and its 200 day moving average is $99.14. Palomar Holdings, Inc. has a 52 week low of $57.55 and a 52 week high of $112.90. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 25.96 and a beta of 0.38.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $134.72 million. Palomar had a net margin of 21.55% and a return on equity of 19.65%. During the same quarter in the prior year, the firm earned $0.80 EPS. On average, research analysts forecast that Palomar Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PLMR shares. Piper Sandler increased their target price on Palomar from $119.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Keefe, Bruyette & Woods upped 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. Jefferies Financial Group raised their target price on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, 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. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Palomar currently has a consensus rating of “Moderate Buy” and an average target price of $115.50.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PLMR. State of Alaska Department of Revenue lifted its position 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 buying an additional 100 shares in the last quarter. Hunter Associates Investment Management LLC boosted its position in Palomar by 6.8% during the fourth quarter. Hunter Associates Investment Management LLC now owns 17,689 shares of the company’s stock worth $1,872,000 after purchasing an additional 1,120 shares during the period. Moody Aldrich Partners LLC raised its holdings in Palomar by 130.4% during the 4th quarter. Moody Aldrich Partners LLC now owns 62,322 shares of the company’s stock valued at $6,581,000 after acquiring an additional 35,270 shares during the period. KBC Group NV boosted its stake in Palomar by 44.9% in the 4th quarter. KBC Group NV now owns 1,045 shares of the company’s stock worth $110,000 after purchasing an additional 324 shares during the period. Finally, Exchange Traded Concepts LLC boosted its position in shares of Palomar by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 7,919 shares of the company’s stock valued at $836,000 after acquiring an additional 200 shares during the period. Institutional investors own 90.25% of the company’s stock.

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.