Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson Sells 819 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 819 shares of the business’s stock in a transaction that occurred on Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total value of $86,699.34. Following the completion of the sale, the president now directly owns 55,126 shares in the company, valued at approximately $5,835,638.36. The trade was a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 value of $228,499.50.
• 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.

Palomar Trading Up 0.4 %

Shares of PLMR stock opened at $104.81 on Friday. The company has a market cap of $2.77 billion, a P/E ratio of 24.90 and a beta of 0.36. The firm has a fifty day moving average price of $103.86 and a 200 day moving average price of $95.96. Palomar Holdings, Inc. has a 12 month low of $54.81 and a 12 month high of $112.90.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Monday, November 4th. The company reported $1.23 EPS 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 business had revenue of $148.50 million for the quarter, compared to the consensus estimate of $134.72 million. During the same quarter in the prior year, the business posted $0.80 EPS. On average, equities analysts forecast that Palomar Holdings, Inc. will post 4.33 EPS for the current year.

Analysts Set New Price Targets

PLMR has been the topic of several research reports. Jefferies Financial Group increased their price target on shares of Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Piper Sandler increased their target price on shares of Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. JPMorgan Chase & Co. boosted their price target 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. Finally, 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. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $111.67.

Hedge Funds Weigh In On Palomar

Several hedge funds have recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Palomar during the 3rd quarter worth approximately $25,000. GAMMA Investing LLC lifted its position in Palomar by 48.6% in the third 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 boosted its stake in Palomar by 490.9% in the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $43,000 after acquiring an additional 378 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Palomar during the second quarter worth about $49,000. Finally, Covestor Ltd increased its position in shares of Palomar by 20.2% during the third quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after purchasing an additional 181 shares in 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.