Jonathan Knutzen Sells 281 Shares of Palomar (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) insider Jonathan Knutzen sold 281 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $128.84, for a total transaction of $36,204.04. Following the completion of the transaction, the insider owned 21,565 shares in the company, valued at approximately $2,778,434.60. This represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Palomar Stock Up 0.9%

Shares of NASDAQ PLMR opened at $122.81 on Friday. Palomar Holdings, Inc. has a 52-week low of $98.42 and a 52-week high of $175.85. The business’s 50 day moving average is $118.11 and its two-hundred day moving average is $134.17. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 21.58 and a beta of 0.25.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings data on Friday, December 16th. The company reported $0.07 earnings per share for the quarter. Palomar had a return on equity of 20.35% and a net margin of 22.71%.The business had revenue of $65.74 million during the quarter. Analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PLMR has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on shares of Palomar from $137.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Evercore ISI cut their target price on shares of Palomar from $168.00 to $134.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 1st. Keefe, Bruyette & Woods increased their target price on shares of Palomar from $164.00 to $170.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. Wall Street Zen upgraded shares of Palomar from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Finally, Piper Sandler decreased their target price on Palomar from $177.00 to $151.00 and set an “overweight” rating for the company in a report on Wednesday, August 6th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $157.67.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its position in Palomar by 3.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,461 shares of the company’s stock valued at $363,000 after acquiring an additional 90 shares during the last quarter. Clearstead Advisors LLC grew its holdings in shares of Palomar by 31.0% during the third quarter. Clearstead Advisors LLC now owns 397 shares of the company’s stock worth $46,000 after purchasing an additional 94 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Palomar by 0.4% during the second quarter. California State Teachers Retirement System now owns 24,207 shares of the company’s stock worth $3,734,000 after purchasing an additional 97 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Palomar by 1.7% in the 2nd quarter. Bank of Montreal Can now owns 5,766 shares of the company’s stock valued at $889,000 after purchasing an additional 98 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Palomar by 14.4% in the 2nd quarter. GAMMA Investing LLC now owns 833 shares of the company’s stock valued at $128,000 after purchasing an additional 105 shares during the period. 90.25% of the stock is owned by hedge funds and other institutional investors.

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.