Palomar (NASDAQ:PLMR) President Jon Christianson Sells 522 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 522 shares of Palomar stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $128.84, for a total transaction of $67,254.48. Following the sale, the president directly owned 59,631 shares in the company, valued at approximately $7,682,858.04. The trade was a 0.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Palomar Trading Up 0.8%

PLMR stock traded up $0.91 during midday trading on Friday, hitting $122.57. 43,705 shares of the company’s stock were exchanged, compared to its average volume of 291,624. Palomar Holdings, Inc. has a 1-year low of $98.42 and a 1-year high of $175.85. The stock has a market capitalization of $3.25 billion, a PE ratio of 21.54 and a beta of 0.25. The business has a 50-day simple moving average of $117.99 and a two-hundred day simple moving average of $134.40.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Salomon & Ludwin LLC acquired a new stake in Palomar in the 3rd quarter valued at about $25,000. Richardson Financial Services Inc. increased its stake in shares of Palomar by 210.0% during the third quarter. Richardson Financial Services Inc. now owns 217 shares of the company’s stock worth $25,000 after buying an additional 147 shares during the period. Allworth Financial LP raised its holdings in Palomar by 1,970.0% in the second quarter. Allworth Financial LP now owns 207 shares of the company’s stock valued at $32,000 after acquiring an additional 197 shares in the last quarter. Maseco LLP purchased a new position in Palomar in the second quarter worth approximately $45,000. Finally, Clearstead Advisors LLC grew its holdings in Palomar by 31.0% during the 3rd quarter. Clearstead Advisors LLC now owns 397 shares of the company’s stock worth $46,000 after acquiring an additional 94 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PLMR. Keefe, Bruyette & Woods boosted their price target on shares of Palomar from $164.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, November 11th. Wall Street Zen raised Palomar from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Piper Sandler lowered their price target on Palomar from $177.00 to $151.00 and set an “overweight” rating for the company in a research report on Wednesday, August 6th. Evercore ISI cut their price objective on Palomar from $168.00 to $134.00 and set an “in-line” rating on the stock in a report on Wednesday, October 1st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Palomar in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $157.67.

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.