Palomar Holdings, Inc. (NASDAQ:PLMR) Insider Angela L. Grant Sells 1,505 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) insider Angela L. Grant sold 1,505 shares of the company’s stock in a transaction dated Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total transaction of $159,319.30. Following the transaction, the insider now owns 2,534 shares in the company, valued at $268,249.24. The trade was a 37.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Palomar Stock Up 0.4 %

PLMR opened at $104.81 on Friday. The firm has a market cap of $2.77 billion, a P/E ratio of 24.90 and a beta of 0.36. The business’s fifty day simple moving average is $103.86 and its 200 day simple moving average is $95.96. Palomar Holdings, Inc. has a 52 week low of $54.81 and a 52 week 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 (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.20. The company had revenue of $148.50 million for the quarter, compared to analysts’ expectations of $134.72 million. Palomar had a net margin of 21.55% and a return on equity of 19.65%. During the same period last year, the company earned $0.80 EPS. As a group, equities analysts expect that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Institutional Trading of Palomar

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Palomar by 3.0% during the third quarter. State Street Corp now owns 1,097,702 shares of the company’s stock worth $103,919,000 after purchasing an additional 32,151 shares during the last quarter. Geode Capital Management LLC boosted its stake in Palomar by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock worth $56,822,000 after buying an additional 18,335 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Palomar by 15.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 508,870 shares of the company’s stock valued at $41,295,000 after buying an additional 66,478 shares during the period. Emerald Advisers LLC increased its stake in shares of Palomar by 1.9% during the 3rd quarter. Emerald Advisers LLC now owns 449,973 shares of the company’s stock valued at $42,599,000 after acquiring an additional 8,601 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Palomar by 24.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company’s stock worth $37,339,000 after acquiring an additional 77,552 shares during the period. 90.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.