Jon Christianson Sells 819 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 819 shares of Palomar stock in a transaction that occurred on Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total value of $86,699.34. Following the sale, the president now directly owns 55,126 shares of the company’s stock, valued at approximately $5,835,638.36. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, November 11th, Jon Christianson sold 2,195 shares of Palomar stock. The stock was sold at an average price of $104.10, for a total value of $228,499.50.
• On Tuesday, October 15th, Jon Christianson sold 2,000 shares of Palomar stock. The shares were sold at an average price of $98.45, for a total transaction of $196,900.00.

Palomar Stock Performance

Shares of PLMR stock opened at $104.81 on Friday. Palomar Holdings, Inc. has a fifty-two week low of $54.81 and a fifty-two week high of $112.90. The stock’s fifty day moving average price is $103.86 and its two-hundred day moving average price is $95.96. The company has a market cap of $2.77 billion, a PE ratio of 24.90 and a beta of 0.36.

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

Hedge Funds Weigh In On Palomar

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLMR. GAMMA Investing LLC increased its holdings in shares of Palomar by 48.6% during the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $36,000 after buying an additional 125 shares in the last quarter. Arizona State Retirement System increased its holdings in Palomar by 2.4% in the 2nd quarter. Arizona State Retirement System now owns 6,961 shares of the company’s stock worth $565,000 after purchasing an additional 164 shares in the last quarter. Covestor Ltd raised its position in Palomar by 20.2% in 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. Louisiana State Employees Retirement System boosted its stake in shares of Palomar by 1.6% during the third quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the company’s stock valued at $1,202,000 after purchasing an additional 200 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Palomar during the third quarter worth about $25,000. Institutional investors own 90.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PLMR. Piper Sandler boosted their price objective on shares of Palomar from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Keefe, Bruyette & Woods boosted their price target on Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Jefferies Financial Group raised their price objective 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. upped 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. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.