Palomar Holdings, Inc. (NASDAQ:PLMR) Insider Angela L. Grant Sells 1,505 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR) insider Angela L. Grant sold 1,505 shares of the business’s stock in a transaction on Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total transaction of $159,319.30. Following the sale, the insider now owns 2,534 shares of the company’s stock, valued at approximately $268,249.24. The trade was a 37.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Palomar Stock Performance

Shares of PLMR stock traded up $0.43 during midday trading on Friday, reaching $104.81. 74,754 shares of the company were exchanged, compared to its average volume of 92,577. The company’s 50 day moving average price is $103.86 and its two-hundred day moving average price is $95.96. The company has a market cap of $2.77 billion, a P/E ratio of 24.90 and a beta of 0.36. Palomar Holdings, Inc. has a 12 month low of $54.81 and a 12 month high of $112.90.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.20. Palomar had a return on equity of 19.65% and a net margin of 21.55%. The firm had revenue of $148.50 million during the quarter, compared to analyst estimates of $134.72 million. During the same period last year, the company posted $0.80 EPS. As a group, sell-side analysts predict that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.

Hedge Funds Weigh In On Palomar

Large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its holdings in Palomar by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company’s stock worth $12,133,000 after buying an additional 11,140 shares during the period. Hohimer Wealth Management LLC purchased a new position in shares of Palomar in the third quarter worth approximately $224,000. Geode Capital Management LLC raised its holdings in shares of Palomar by 3.2% during the third quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock valued at $56,822,000 after acquiring an additional 18,335 shares during the period. Barclays PLC lifted its position in shares of Palomar by 112.6% in the 3rd quarter. Barclays PLC now owns 71,803 shares of the company’s stock valued at $6,798,000 after acquiring an additional 38,027 shares in the last quarter. Finally, Soros Fund Management LLC acquired a new position in Palomar in the 3rd quarter worth approximately $9,467,000. Institutional investors own 90.25% of the company’s stock.

Wall Street Analysts Forecast Growth

PLMR has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price objective on shares of Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Piper Sandler increased their price target on Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Jefferies Financial Group boosted their price objective on Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upped 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Palomar currently has a consensus rating of “Moderate Buy” and an average target price of $111.67.

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.