Insider Selling: Palomar Holdings, Inc. (NASDAQ:PLMR) Insider Sells 717 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) insider Angela L. Grant sold 717 shares of the stock in a transaction on Sunday, January 26th. The stock was sold at an average price of $101.70, for a total transaction of $72,918.90. Following the sale, the insider now directly owns 2,951 shares in the company, valued at $300,116.70. This trade represents a 19.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Palomar Price Performance

Shares of PLMR stock opened at $109.29 on Wednesday. Palomar Holdings, Inc. has a 12-month low of $57.55 and a 12-month high of $112.90. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 25.96 and a beta of 0.38. The business has a 50 day simple moving average of $106.96 and a 200 day simple moving average of $99.14.

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. Palomar had a return on equity of 19.65% and a net margin of 21.55%. The company had revenue of $148.50 million during the quarter, compared to analysts’ expectations of $134.72 million. During the same quarter in the prior year, the business posted $0.80 earnings per share. On average, equities analysts anticipate that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Palomar

Large investors have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Palomar in the third quarter valued at approximately $25,000. GAMMA Investing LLC lifted its position in Palomar by 48.6% in the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $36,000 after purchasing an additional 125 shares during the period. Farther Finance Advisors LLC boosted its stake in Palomar by 490.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $43,000 after purchasing an additional 378 shares in the last quarter. Covestor Ltd increased its position in shares of Palomar by 20.2% during the 3rd 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 period. Finally, KBC Group NV raised its stake in shares of Palomar by 44.9% in the 4th quarter. KBC Group NV now owns 1,045 shares of the company’s stock worth $110,000 after buying an additional 324 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods increased their price target on Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Jefferies Financial Group boosted their price objective on Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Piper Sandler upped their price objective on Palomar from $119.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Palomar presently has a consensus rating of “Moderate Buy” and an average target price of $115.50.

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.