Jon Christianson Sells 356 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 356 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $104.51, for a total transaction of $37,205.56. Following the completion of the transaction, the president now owns 57,259 shares of the company’s stock, valued at $5,984,138.09. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, January 29th, Jon Christianson sold 478 shares of Palomar stock. The stock was sold at an average price of $108.34, for a total value of $51,786.52.
• On Sunday, January 26th, Jon Christianson sold 371 shares of Palomar stock. The shares were sold at an average price of $101.69, for a total value of $37,726.99.
• On Wednesday, January 1st, Jon Christianson sold 819 shares of Palomar stock. The stock was sold at an average price of $105.86, for a total value of $86,699.34.
• 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 transaction of $228,499.50.

Palomar Trading Up 2.5 %

Shares of Palomar stock opened at $109.37 on Thursday. Palomar Holdings, Inc. has a 12 month low of $57.63 and a 12 month high of $112.90. The company has a market capitalization of $2.90 billion, a PE ratio of 25.98 and a beta of 0.38. The stock’s fifty day simple moving average is $106.85 and its 200 day simple moving average is $99.76.

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. Palomar had a return on equity of 19.65% and a net margin of 21.55%. The business had revenue of $148.50 million for the quarter, compared to analysts’ expectations of $134.72 million. During the same quarter in the previous year, the business posted $0.80 EPS. Analysts predict that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on PLMR shares. Jefferies Financial Group raised their price objective on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Piper Sandler raised their price target on Palomar from $119.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. upped their price objective 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 raised their target price on Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Palomar currently has an average rating of “Moderate Buy” and an average price target of $115.50.

Institutional Trading of Palomar

Several hedge funds have recently bought and sold shares of the stock. State Street Corp increased its position 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 acquiring an additional 32,151 shares in 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 purchasing an additional 18,335 shares during the period. Artemis Investment Management LLP increased its holdings in 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 in the last quarter. Emerald Advisers LLC raised its stake in shares of 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 purchasing an additional 8,601 shares during the period. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Palomar by 24.5% in the third quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company’s stock valued at $37,339,000 after purchasing an additional 77,552 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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.