Palomar Holdings, Inc. (NASDAQ:PLMR) Insider Angela L. Grant Sells 394 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) insider Angela L. Grant sold 394 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $108.34, for a total transaction of $42,685.96. Following the transaction, the insider now directly owns 4,485 shares of the company’s stock, valued at $485,904.90. This represents a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Palomar Price Performance

PLMR stock opened at $107.87 on Friday. The stock has a market capitalization of $2.86 billion, a PE ratio of 25.62 and a beta of 0.38. The company has a 50 day moving average price of $106.94 and a 200 day moving average price of $99.27. Palomar Holdings, Inc. has a fifty-two week low of $57.55 and a fifty-two week 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 the consensus estimate 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 quarter in the prior year, the firm posted $0.80 earnings per share. As a group, equities analysts expect 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 modified their holdings of PLMR. Blue Trust Inc. bought a new stake in shares of Palomar during the fourth quarter worth approximately $26,000. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Palomar during the 3rd quarter valued at $25,000. GAMMA Investing LLC lifted its stake in shares of Palomar by 48.6% in the 3rd 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 period. Farther Finance Advisors LLC boosted its position in shares of Palomar by 490.9% in the 3rd 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 last quarter. Finally, KBC Group NV boosted its position in shares of Palomar by 44.9% in the 4th 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. Institutional investors own 90.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PLMR shares. Piper Sandler upped 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. JPMorgan Chase & Co. boosted their price target on Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods upped their price objective on shares of Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, Jefferies Financial Group increased their target price on Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $115.50.

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.