Jon Christianson Sells 371 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 371 shares of the business’s stock in a transaction dated Sunday, January 26th. The shares were sold at an average price of $101.69, for a total value of $37,726.99. Following the completion of the transaction, the president now owns 55,771 shares in the company, valued at $5,671,352.99. This trade represents a 0.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, January 1st, Jon Christianson sold 819 shares of Palomar stock. The shares were sold at an average price of $105.86, for a total value of $86,699.34.
• On Monday, November 11th, Jon Christianson sold 2,195 shares of Palomar stock. The stock was sold at an average price of $104.10, for a total value of $228,499.50.

Palomar Stock Up 2.9 %

PLMR opened at $109.29 on Wednesday. The stock’s 50 day moving average price is $106.96 and its two-hundred day moving average price is $99.14. The firm has a market capitalization of $2.89 billion, a P/E ratio of 25.96 and a beta of 0.38. Palomar Holdings, Inc. has a 12-month low of $57.55 and a 12-month high of $112.90.

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

Analyst Ratings Changes

Several research analysts have recently commented on PLMR shares. JPMorgan Chase & Co. increased their price target on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods increased their target price 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 target on Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Piper Sandler increased their price objective on Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $115.50.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PLMR. Whittier Trust Co. of Nevada Inc. acquired a new stake in Palomar during the third quarter worth $25,000. GAMMA Investing LLC lifted its stake in Palomar by 48.6% during the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $36,000 after purchasing an additional 125 shares during the period. Farther Finance Advisors LLC lifted its stake in Palomar by 490.9% during the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $43,000 after purchasing an additional 378 shares during the period. Covestor Ltd grew its stake in shares of Palomar by 20.2% in the 3rd quarter. Covestor Ltd now owns 1,076 shares of the company’s stock valued at $102,000 after purchasing an additional 181 shares during the period. Finally, KBC Group NV raised its holdings in shares of Palomar by 44.9% in the 4th quarter. KBC Group NV now owns 1,045 shares of the company’s stock worth $110,000 after buying an additional 324 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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.