Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson Sells 3,805 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 3,805 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $103.04, for a total transaction of $392,067.20. Following the transaction, the president now owns 51,926 shares in the company, valued at $5,350,455.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• 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.
• On Wednesday, July 17th, Jon Christianson sold 2,000 shares of Palomar stock. The shares were sold at an average price of $91.35, for a total value of $182,700.00.

Palomar Stock Down 1.0 %

PLMR traded down $0.96 during trading on Wednesday, hitting $95.55. 186,514 shares of the company traded hands, compared to its average volume of 165,883. Palomar Holdings, Inc. has a one year low of $48.08 and a one year high of $103.40. The stock’s fifty day moving average is $95.00 and its 200 day moving average is $87.14. The firm has a market cap of $2.38 billion, a P/E ratio of 27.37 and a beta of 0.33.

Palomar (NASDAQ:PLMR) last released its earnings results on Monday, August 5th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.16. Palomar had a return on equity of 20.83% and a net margin of 21.63%. The business had revenue of $123.08 million during the quarter, compared to the consensus estimate of $338.74 million. During the same period last year, the business posted $0.72 earnings per share. The business’s revenue for the quarter was up 47.0% on a year-over-year basis. On average, equities research analysts forecast that Palomar Holdings, Inc. will post 4.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Palomar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in shares of 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 purchasing an additional 125 shares during the period. International Assets Investment Management LLC bought a new position in Palomar in the 2nd quarter worth approximately $49,000. DekaBank Deutsche Girozentrale purchased a new position in Palomar in the 1st quarter valued at approximately $59,000. Advisors Asset Management Inc. raised its holdings in Palomar by 137.1% during the 1st quarter. Advisors Asset Management Inc. now owns 735 shares of the company’s stock valued at $62,000 after acquiring an additional 425 shares during the period. Finally, Atwood & Palmer Inc. lifted its position in shares of Palomar by 66.7% during the first quarter. Atwood & Palmer Inc. now owns 750 shares of the company’s stock worth $63,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 90.25% of the company’s stock.

Analyst Upgrades and Downgrades

PLMR has been the topic of a number of recent research reports. Evercore ISI raised their price objective on shares of Palomar from $90.00 to $99.00 and gave the company an “in-line” rating in a research note on Tuesday, August 6th. Jefferies Financial Group raised their target price on Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday. Keefe, Bruyette & Woods upped their price target on Palomar from $96.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Piper Sandler increased their price target on Palomar from $99.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, Truist Financial lifted their price objective on shares of Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Palomar has a consensus rating of “Moderate Buy” and an average price target of $105.50.

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.