Angela L. Grant Sells 1,505 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) 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 completion of the transaction, the insider now owns 2,534 shares in the company, valued at approximately $268,249.24. The trade was a 37.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Palomar Trading Up 0.4 %

Shares of PLMR opened at $104.81 on Monday. The firm has a fifty day simple moving average of $103.86 and a two-hundred day simple moving average of $96.06. The firm has a market cap of $2.77 billion, a PE ratio of 24.90 and a beta of 0.38. Palomar Holdings, Inc. has a 1-year low of $54.81 and a 1-year high of $112.90.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data 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 in the prior year, the business earned $0.80 earnings per share. As a group, research analysts forecast that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Palomar

Several institutional investors have recently made changes to their positions in PLMR. State Street Corp increased its holdings in Palomar by 3.0% during the third quarter. State Street Corp now owns 1,097,702 shares of the company’s stock valued at $103,919,000 after buying an additional 32,151 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of 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 in the last quarter. Victory Capital Management Inc. raised its holdings in Palomar by 1,634.6% in the 2nd quarter. Victory Capital Management Inc. now owns 177,678 shares of the company’s stock worth $14,419,000 after purchasing an additional 167,435 shares during the period. Driehaus Capital Management LLC lifted its position in Palomar by 17.1% during the second quarter. Driehaus Capital Management LLC now owns 300,213 shares of the company’s stock valued at $24,362,000 after purchasing an additional 43,841 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in Palomar by 58.7% during the third quarter. Thrivent Financial for Lutherans now owns 32,837 shares of the company’s stock valued at $3,109,000 after purchasing an additional 12,147 shares during the period. Institutional investors own 90.25% of the company’s stock.

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.