Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson Sells 2,195 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 2,195 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $104.10, for a total value of $228,499.50. Following the completion of the sale, the president now directly owns 51,926 shares of the company’s stock, valued at $5,405,496.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Tuesday, October 15th, Jon Christianson sold 2,000 shares of Palomar stock. The shares were sold at an average price of $98.45, for a total transaction of $196,900.00.
• On Friday, October 4th, Jon Christianson sold 3,805 shares of Palomar stock. The stock was sold at an average price of $103.04, for a total transaction of $392,067.20.
• On Friday, September 6th, Jon Christianson sold 10,000 shares of Palomar stock. The shares were sold at an average price of $94.40, for a total transaction of $944,000.00.

Palomar Stock Performance

Shares of PLMR opened at $100.69 on Wednesday. Palomar Holdings, Inc. has a fifty-two week low of $54.50 and a fifty-two week high of $107.00. The business has a 50-day moving average of $95.31 and a 200 day moving average of $89.64. The firm has a market cap of $2.67 billion, a P/E ratio of 23.92 and a beta of 0.34.

Palomar (NASDAQ:PLMR) last posted its earnings results on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.20. The firm had revenue of $148.50 million during the quarter, compared to the consensus estimate of $134.72 million. Palomar had a net margin of 21.55% and a return on equity of 19.65%. During the same quarter last year, the company earned $0.80 earnings per share. As a group, research analysts predict that Palomar Holdings, Inc. will post 4.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PLMR. Westfield Capital Management Co. LP boosted its holdings in shares of Palomar by 24.5% in the third quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company’s stock worth $37,339,000 after acquiring an additional 77,552 shares during the period. Algert Global LLC lifted its holdings in Palomar by 9.0% during the 3rd quarter. Algert Global LLC now owns 41,085 shares of the company’s stock worth $3,890,000 after purchasing an additional 3,398 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Palomar by 6.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 230,552 shares of the company’s stock worth $21,826,000 after purchasing an additional 14,509 shares during the period. Intech Investment Management LLC grew its holdings in Palomar by 109.0% during the 3rd quarter. Intech Investment Management LLC now owns 9,040 shares of the company’s stock valued at $856,000 after buying an additional 4,714 shares in the last quarter. Finally, King Luther Capital Management Corp increased its position in shares of Palomar by 1.2% during the third quarter. King Luther Capital Management Corp now owns 88,630 shares of the company’s stock valued at $8,391,000 after buying an additional 1,071 shares during the period. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Piper Sandler raised their target price on Palomar from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Truist Financial boosted their price target on shares of Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Evercore ISI raised their price objective on shares of Palomar from $90.00 to $99.00 and gave the stock an “in-line” rating in a report on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Palomar from $117.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $109.00.

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.