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 shares were sold at an average price of $101.70, for a total transaction of $72,918.90. Following the completion of the sale, the insider now directly owns 2,951 shares of the company’s stock, valued at approximately $300,116.70. This trade represents a 19.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Palomar Trading Up 2.9 %

Shares of PLMR traded up $3.05 during trading hours on Tuesday, hitting $109.29. The company had a trading volume of 82,976 shares, compared to its average volume of 138,240. Palomar Holdings, Inc. has a one year low of $57.55 and a one year high of $112.90. The company’s fifty day moving average price is $106.96 and its two-hundred day moving average price is $99.14. The company has a market capitalization of $2.89 billion, a PE ratio of 25.96 and a beta of 0.38.

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

Institutional Investors Weigh In On Palomar

Institutional investors have recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Palomar during the 3rd quarter valued at $25,000. GAMMA Investing LLC increased its position in Palomar by 48.6% during the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after buying an additional 125 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Palomar by 490.9% in the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $43,000 after buying an additional 378 shares during the last quarter. Covestor Ltd boosted its holdings in Palomar by 20.2% in the third quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after acquiring an additional 181 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Palomar by 44.9% during the fourth quarter. KBC Group NV now owns 1,045 shares of the company’s stock worth $110,000 after acquiring an additional 324 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLMR has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of 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. lifted 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. Jefferies Financial Group increased their price target on Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Piper Sandler lifted their price objective on Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Palomar currently has an average 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.