Palomar Holdings, Inc. (NASDAQ:PLMR) Insider Sells $159,319.30 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) insider Angela L. Grant sold 1,505 shares of the stock in a transaction that occurred on Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total value of $159,319.30. Following the sale, the insider now directly owns 2,534 shares of the company’s stock, valued at approximately $268,249.24. This trade represents a 37.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Palomar Price Performance

Shares of PLMR opened at $104.81 on Monday. The company has a 50-day simple moving average of $103.86 and a two-hundred day simple moving average of $96.06. The firm has a market capitalization of $2.77 billion, a PE ratio of 24.90 and a beta of 0.38. Palomar Holdings, Inc. has a one year low of $54.81 and a one year high of $112.90.

Palomar (NASDAQ:PLMR) last released its earnings results on Monday, November 4th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.20. The company had revenue of $148.50 million during the quarter, compared to analysts’ expectations 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 business posted $0.80 EPS. Analysts expect that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Institutional Trading of Palomar

A number of hedge funds have recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Palomar in the 3rd quarter worth about $25,000. GAMMA Investing LLC boosted its stake in Palomar by 48.6% during the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $36,000 after acquiring an additional 125 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Palomar by 490.9% in the third 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 period. International Assets Investment Management LLC bought a new position in shares of Palomar during the second quarter valued at approximately $49,000. Finally, Covestor Ltd lifted its holdings in shares of Palomar by 20.2% during the third quarter. Covestor Ltd now owns 1,076 shares of the company’s stock valued at $102,000 after purchasing an additional 181 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PLMR shares. Jefferies Financial Group increased their price target on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Piper Sandler increased their target price on shares of Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. JPMorgan Chase & Co. boosted their price target on Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods increased their price objective on Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $111.67.

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.