Palomar Holdings, Inc. (NASDAQ:PLMR) Insider Angela L. Grant Sells 1,505 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR) insider Angela L. Grant sold 1,505 shares of the business’s stock in a transaction dated Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total value of $159,319.30. Following the sale, the insider now directly owns 2,534 shares of the company’s stock, valued at approximately $268,249.24. This trade represents a 37.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Palomar Trading Up 0.4 %

Shares of PLMR stock opened at $104.81 on Friday. The firm has a fifty day simple moving average of $103.86 and a 200-day simple moving average of $95.96. The company has a market capitalization of $2.77 billion, a PE ratio of 24.90 and a beta of 0.36. Palomar Holdings, Inc. has a twelve month low of $54.81 and a twelve month high of $112.90.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data 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 net margin of 21.55% and a return on equity of 19.65%. The company had revenue of $148.50 million during the quarter, compared to analysts’ expectations of $134.72 million. During the same period in the prior year, the company posted $0.80 EPS. Equities research analysts predict that Palomar Holdings, Inc. will post 4.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Jefferies Financial Group lifted their price objective on Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price objective on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods raised their target price on shares of Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Piper Sandler upped their price target on shares of Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. 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 has a consensus rating of “Moderate Buy” and a consensus price target of $111.67.

Institutional Investors Weigh In On Palomar

A number of hedge funds have recently bought and sold shares of the business. State Street Corp raised 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 purchasing an additional 32,151 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Palomar by 3.2% in the third quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock worth $56,822,000 after buying an additional 18,335 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Palomar by 1,634.6% in the second quarter. Victory Capital Management Inc. now owns 177,678 shares of the company’s stock valued at $14,419,000 after acquiring an additional 167,435 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in Palomar by 17.1% in the second quarter. Driehaus Capital Management LLC now owns 300,213 shares of the company’s stock valued at $24,362,000 after acquiring an additional 43,841 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in Palomar by 58.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 32,837 shares of the company’s stock valued at $3,109,000 after acquiring an additional 12,147 shares during the last quarter. Institutional investors and hedge funds 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.