Palomar Holdings, Inc. (NASDAQ:PLMR) President Sells $152,600.00 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 2,000 shares of Palomar stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $76.30, for a total transaction of $152,600.00. Following the transaction, the president now directly owns 57,761 shares of the company’s stock, valued at approximately $4,407,164.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, March 14th, Jon Christianson sold 10,000 shares of Palomar stock. The stock was sold at an average price of $82.09, for a total transaction of $820,900.00.
• On Wednesday, February 14th, Jon Christianson sold 2,000 shares of Palomar stock. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00.
• On Wednesday, January 31st, Jon Christianson sold 356 shares of Palomar stock. The stock was sold at an average price of $59.19, for a total transaction of $21,071.64.
• On Friday, January 26th, Jon Christianson sold 423 shares of Palomar stock. The stock was sold at an average price of $60.13, for a total transaction of $25,434.99.

Palomar Price Performance

Shares of NASDAQ PLMR traded up $0.87 during mid-day trading on Thursday, reaching $77.77. 184,463 shares of the company’s stock traded hands, compared to its average volume of 157,189. The stock has a market cap of $1.94 billion, a P/E ratio of 24.65 and a beta of 0.21. The business has a 50-day simple moving average of $76.23 and a 200 day simple moving average of $63.76. Palomar Holdings, Inc. has a 1-year low of $46.09 and a 1-year high of $86.25.

Palomar (NASDAQ:PLMR) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.09. Palomar had a net margin of 21.07% and a return on equity of 19.35%. The business had revenue of $102.35 million for the quarter, compared to analysts’ expectations of $95.07 million. Equities research analysts anticipate that Palomar Holdings, Inc. will post 3.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

PLMR has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their price target on shares of Palomar from $88.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Piper Sandler raised their price target on shares of Palomar from $80.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Truist Financial raised their price target on shares of Palomar from $72.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, February 16th. JMP Securities restated a “market perform” rating on shares of Palomar in a report on Monday. Finally, Evercore ISI lifted their price objective on shares of Palomar from $68.00 to $86.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Three 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 presently has an average rating of “Moderate Buy” and an average price target of $87.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLMR. Advisor Group Holdings Inc. boosted its holdings in Palomar by 34.1% during the first quarter. Advisor Group Holdings Inc. now owns 1,470 shares of the company’s stock worth $94,000 after purchasing an additional 374 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Palomar by 20.7% during the first quarter. JPMorgan Chase & Co. now owns 11,682 shares of the company’s stock worth $747,000 after purchasing an additional 2,002 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Palomar during the first quarter worth about $891,000. Citigroup Inc. boosted its holdings in Palomar by 11.6% during the first quarter. Citigroup Inc. now owns 20,883 shares of the company’s stock worth $1,337,000 after purchasing an additional 2,165 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Palomar by 50.8% during the first quarter. PNC Financial Services Group Inc. now owns 6,647 shares of the company’s stock worth $425,000 after purchasing an additional 2,240 shares during the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

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.