Palomar Holdings, Inc. (NASDAQ:PLMR) President Sells $162,420.00 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 2,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $81.21, for a total transaction of $162,420.00. Following the completion of the transaction, the president now owns 53,761 shares in the company, valued at $4,365,930.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, April 17th, Jon Christianson sold 2,000 shares of Palomar stock. The shares were sold at an average price of $76.30, for a total transaction of $152,600.00.

Palomar Stock Up 1.0 %

Shares of PLMR stock opened at $79.61 on Wednesday. The firm has a fifty day moving average of $82.28 and a 200-day moving average of $73.19. Palomar Holdings, Inc. has a 12-month low of $48.08 and a 12-month high of $89.22. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 22.88 and a beta of 0.32.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.28. Palomar had a net margin of 21.78% and a return on equity of 19.94%. The company had revenue of $108.39 million during the quarter, compared to the consensus estimate of $322.10 million. During the same quarter in the prior year, the firm earned $0.80 earnings per share. The firm’s revenue was up 29.1% compared to the same quarter last year. On average, equities analysts expect that Palomar Holdings, Inc. will post 4.2 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. NBW Capital LLC grew its position in Palomar by 0.5% in the first quarter. NBW Capital LLC now owns 95,222 shares of the company’s stock valued at $7,982,000 after purchasing an additional 448 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Palomar in the 1st quarter valued at about $59,000. Silvercrest Asset Management Group LLC grew its position in shares of Palomar by 0.7% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 86,299 shares of the company’s stock valued at $7,234,000 after acquiring an additional 604 shares during the period. Lazard Asset Management LLC grew its position in shares of Palomar by 122.2% in the 1st quarter. Lazard Asset Management LLC now owns 5,158 shares of the company’s stock valued at $432,000 after acquiring an additional 2,837 shares during the period. Finally, Quadrature Capital Ltd grew its position in shares of Palomar by 155.9% in the 1st quarter. Quadrature Capital Ltd now owns 22,773 shares of the company’s stock valued at $1,906,000 after acquiring an additional 13,873 shares during the period. Institutional investors own 90.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PLMR shares. Evercore ISI increased their target price on shares of Palomar from $88.00 to $89.00 and gave the stock an “in-line” rating in a report on Wednesday, May 29th. Truist Financial increased their target price on shares of Palomar from $97.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. JPMorgan Chase & Co. lowered shares of Palomar from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $79.00 to $85.00 in a report on Monday, April 8th. JMP Securities reiterated a “market perform” rating on shares of Palomar in a report on Monday, April 15th. Finally, Jefferies Financial Group upgraded shares of Palomar from a “hold” rating to a “buy” rating and increased their target price for the stock from $78.00 to $88.00 in a report on Thursday, March 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Palomar has a consensus rating of “Moderate Buy” and a consensus target price of $92.83.

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.