Palomar Holdings, Inc. (NASDAQ:PLMR) Insider Jonathan Knutzen Sells 282 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) insider Jonathan Knutzen sold 282 shares of Palomar stock in a transaction on Friday, January 31st. The stock was sold at an average price of $104.46, for a total transaction of $29,457.72. Following the sale, the insider now directly owns 20,098 shares in the company, valued at $2,099,437.08. This trade represents a 1.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Palomar Stock Performance

NASDAQ:PLMR opened at $106.74 on Wednesday. The stock has a 50-day simple moving average of $106.89 and a 200 day simple moving average of $99.63. Palomar Holdings, Inc. has a one year low of $57.55 and a one year high of $112.90. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 25.35 and a beta of 0.38.

Palomar (NASDAQ:PLMR) last issued its 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 company had revenue of $148.50 million during 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 quarter last year, the firm earned $0.80 EPS. On average, equities research analysts forecast that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Palomar

A number of hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its holdings in shares of Palomar by 3.0% during the third quarter. State Street Corp now owns 1,097,702 shares of the company’s stock worth $103,919,000 after purchasing an additional 32,151 shares during the period. Geode Capital Management LLC grew its position in shares of Palomar by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock valued at $56,822,000 after buying an additional 18,335 shares during the last quarter. Artemis Investment Management LLP grew its position in shares of Palomar by 18.7% during the 4th quarter. Artemis Investment Management LLP now owns 455,082 shares of the company’s stock valued at $48,052,000 after buying an additional 71,806 shares during the last quarter. Emerald Advisers LLC raised its stake in Palomar by 1.9% during the third quarter. Emerald Advisers LLC now owns 449,973 shares of the company’s stock worth $42,599,000 after acquiring an additional 8,601 shares during the period. Finally, Westfield Capital Management Co. LP lifted its holdings in 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 last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Jefferies Financial Group raised 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. Keefe, Bruyette & Woods raised their price objective on Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. upped their target price on Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Piper Sandler raised their price target on shares of Palomar from $119.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Palomar has an average rating of “Moderate Buy” and a consensus price target 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.