Palomar Holdings, Inc. (NASDAQ:PLMR) Insider Angela L. Grant Sells 717 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR) insider Angela L. Grant sold 717 shares of Palomar stock in a transaction dated Sunday, January 26th. The shares were sold at an average price of $101.70, for a total value of $72,918.90. Following the completion of the transaction, the insider now directly owns 2,951 shares in the company, valued at $300,116.70. This represents a 19.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Palomar Price Performance

Palomar stock opened at $109.29 on Wednesday. The firm’s fifty day moving average price is $106.96 and its 200 day moving average price is $99.14. The company has a market capitalization of $2.89 billion, a price-to-earnings 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 announced its earnings results on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.20. The business had revenue of $148.50 million for the quarter, compared to analyst estimates of $134.72 million. Palomar had a return on equity of 19.65% and a net margin of 21.55%. During the same period in the previous year, the company earned $0.80 earnings per share. Analysts forecast that Palomar Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Palomar

A number of institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue increased its stake in shares of Palomar by 0.7% in the fourth quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company’s stock worth $1,588,000 after buying an additional 100 shares during the last quarter. Hunter Associates Investment Management LLC raised its stake in shares of Palomar by 6.8% in the 4th quarter. Hunter Associates Investment Management LLC now owns 17,689 shares of the company’s stock valued at $1,872,000 after purchasing an additional 1,120 shares in the last quarter. Moody Aldrich Partners LLC lifted its position in shares of Palomar by 130.4% during the fourth quarter. Moody Aldrich Partners LLC now owns 62,322 shares of the company’s stock worth $6,581,000 after purchasing an additional 35,270 shares during the last quarter. KBC Group NV lifted its position in shares of Palomar by 44.9% during the fourth quarter. KBC Group NV now owns 1,045 shares of the company’s stock worth $110,000 after purchasing an additional 324 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in Palomar by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 7,919 shares of the company’s stock worth $836,000 after purchasing an additional 200 shares in the last quarter. 90.25% of the stock is 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.