Angela L. Grant Sells 717 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) insider Angela L. Grant sold 717 shares of the firm’s stock in a transaction on Sunday, January 26th. The stock was sold at an average price of $101.70, for a total value of $72,918.90. Following the completion of the transaction, the insider now owns 2,951 shares of the company’s stock, valued at $300,116.70. This trade represents a 19.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Palomar Trading Up 2.9 %

PLMR traded up $3.05 on Tuesday, reaching $109.29. The stock had a trading volume of 82,976 shares, compared to its average volume of 138,240. The business’s 50-day moving average price is $106.96 and its two-hundred day moving average price is $99.14. The company has a market cap of $2.89 billion, a P/E ratio of 25.96 and a beta of 0.38. Palomar Holdings, Inc. has a 12-month low of $57.55 and a 12-month high of $112.90.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp increased its holdings in Palomar by 3.0% in the 3rd quarter. State Street Corp now owns 1,097,702 shares of the company’s stock worth $103,919,000 after acquiring an additional 32,151 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Palomar by 3.2% in the third quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock valued at $56,822,000 after purchasing an additional 18,335 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Palomar by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 508,870 shares of the company’s stock worth $41,295,000 after purchasing an additional 66,478 shares in the last quarter. Artemis Investment Management LLP raised 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 worth $48,052,000 after purchasing an additional 71,806 shares during the last quarter. Finally, Emerald Advisers LLC lifted its stake in Palomar by 1.9% in the 3rd quarter. Emerald Advisers LLC now owns 449,973 shares of the company’s stock valued at $42,599,000 after buying an additional 8,601 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PLMR. Jefferies Financial Group increased their price objective on Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price target on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler upped their price objective on shares of Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Palomar currently 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.