Palomar Holdings, Inc. (NASDAQ:PLMR) Insider Sells $72,918.90 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) insider Angela L. Grant sold 717 shares of the business’s stock in a transaction dated Sunday, January 26th. The stock was sold at an average price of $101.70, for a total value of $72,918.90. Following the sale, the insider now owns 2,951 shares of the company’s stock, valued at $300,116.70. The trade was a 19.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Palomar Price Performance

PLMR opened at $108.63 on Thursday. Palomar Holdings, Inc. has a 12-month low of $57.55 and a 12-month high of $112.90. The stock has a market capitalization of $2.88 billion, a PE ratio of 25.80 and a beta of 0.38. The firm’s fifty day moving average price is $106.96 and its 200 day moving average price is $99.14.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.03 by $0.20. The business had revenue of $148.50 million for the quarter, compared to analysts’ expectations 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 posted $0.80 earnings per share. On average, equities research analysts forecast that Palomar Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PLMR. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Palomar during the 3rd quarter valued at approximately $25,000. GAMMA Investing LLC increased its stake in Palomar by 48.6% during the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after purchasing an additional 125 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of 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 lifted its position in shares of Palomar by 20.2% in the 3rd quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after buying an additional 181 shares during the last quarter. Finally, KBC Group NV boosted 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 valued at $110,000 after buying an additional 324 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wall Street Analyst Weigh In

PLMR has been the subject of a number of recent research reports. Jefferies Financial Group increased their target price on Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Piper Sandler increased their price objective on shares of Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods boosted 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. Finally, JPMorgan Chase & Co. raised their price target on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Three 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

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.