Insider Selling: Palomar Holdings, Inc. (NASDAQ:PLMR) President Sells 2,000 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $76.30, for a total transaction of $152,600.00. Following the sale, the president now owns 57,761 shares of the company’s stock, valued at $4,407,164.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, March 14th, Jon Christianson sold 10,000 shares of Palomar stock. The shares were sold at an average price of $82.09, for a total transaction of $820,900.00.
• On Wednesday, February 14th, Jon Christianson sold 2,000 shares of Palomar stock. The shares were sold at an average price of $60.00, for a total transaction of $120,000.00.
• On Wednesday, January 31st, Jon Christianson sold 356 shares of Palomar stock. The shares were sold at an average price of $59.19, for a total transaction of $21,071.64.
• On Friday, January 26th, Jon Christianson sold 423 shares of Palomar stock. The shares were sold at an average price of $60.13, for a total transaction of $25,434.99.

Palomar Price Performance

Shares of PLMR stock traded up $0.87 during mid-day trading on Thursday, hitting $77.77. The company had a trading volume of 184,463 shares, compared to its average volume of 157,189. Palomar Holdings, Inc. has a 52-week low of $46.09 and a 52-week high of $86.25. The stock’s 50 day moving average price is $76.23 and its 200-day moving average price is $63.76. The company has a market capitalization of $1.94 billion, a P/E ratio of 24.65 and a beta of 0.21.

Palomar (NASDAQ:PLMR) last released its earnings results on Wednesday, February 14th. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.85 by $0.09. Palomar had a net margin of 21.07% and a return on equity of 19.35%. The firm had revenue of $102.35 million for the quarter, compared to the consensus estimate of $95.07 million. On average, equities research analysts expect that Palomar Holdings, Inc. will post 3.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PLMR. Keefe, Bruyette & Woods lifted their price target on shares of Palomar from $88.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Jefferies Financial Group raised shares of Palomar from a “hold” rating to a “buy” rating and lifted their price target for the company from $78.00 to $88.00 in a report on Thursday, March 14th. Evercore ISI lifted their price target on shares of Palomar from $68.00 to $86.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Piper Sandler lifted their price target on shares of Palomar from $80.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Finally, JPMorgan Chase & Co. downgraded shares of Palomar from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $79.00 to $85.00 in a report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.50.

Institutional Investors Weigh In On Palomar

A number of hedge funds have recently bought and sold shares of PLMR. UBS Group AG raised its stake in Palomar by 7,440.0% during the third quarter. UBS Group AG now owns 377 shares of the company’s stock valued at $32,000 after purchasing an additional 372 shares in the last quarter. Signaturefd LLC raised its stake in Palomar by 59.4% during the fourth quarter. Signaturefd LLC now owns 593 shares of the company’s stock valued at $33,000 after purchasing an additional 221 shares in the last quarter. FMR LLC raised its stake in Palomar by 89.9% during the first quarter. FMR LLC now owns 864 shares of the company’s stock valued at $48,000 after purchasing an additional 409 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Palomar during the first quarter valued at $55,000. Finally, Atwood & Palmer Inc. raised its stake in Palomar by 66.7% during the first quarter. Atwood & Palmer Inc. now owns 750 shares of the company’s stock valued at $63,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

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.