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

Palomar Holdings, Inc. (NASDAQ:PLMR) insider Angela L. Grant sold 1,505 shares of the 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 $159,319.30. Following the transaction, the insider now owns 2,534 shares of the company’s stock, valued at approximately $268,249.24. This trade represents a 37.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Palomar Stock Up 0.4 %

PLMR opened at $104.81 on Friday. The company’s 50-day moving average price is $103.86 and its 200 day moving average price is $95.96. Palomar Holdings, Inc. has a fifty-two week low of $54.81 and a fifty-two week high of $112.90. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 24.90 and a beta of 0.36.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.20. The business had revenue of $148.50 million for the quarter, compared to analysts’ expectations of $134.72 million. Palomar had a return on equity of 19.65% and a net margin of 21.55%. During the same period in the prior year, the firm earned $0.80 EPS. Research analysts anticipate that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PLMR shares. Piper Sandler upped their price target on shares of Palomar from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Keefe, Bruyette & Woods increased their price target on shares of Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Jefferies Financial Group boosted their price objective on Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. increased their target price on Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $111.67.

Institutional Investors Weigh In On Palomar

Several large investors have recently added to or reduced their stakes in PLMR. JPMorgan Chase & Co. boosted its holdings in shares of Palomar by 9.5% during the third quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company’s stock valued at $12,133,000 after acquiring an additional 11,140 shares during the period. Hohimer Wealth Management LLC bought a new stake in Palomar in the 3rd quarter valued at about $224,000. Geode Capital Management LLC boosted its stake in Palomar by 3.2% during 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 period. Barclays PLC grew its position in Palomar by 112.6% in the 3rd quarter. Barclays PLC now owns 71,803 shares of the company’s stock worth $6,798,000 after purchasing an additional 38,027 shares during the last quarter. Finally, Soros Fund Management LLC acquired a new stake in shares of Palomar in the third quarter valued at approximately $9,467,000. 90.25% of the stock is owned by institutional investors and hedge funds.

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.