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 Palomar stock in a transaction dated Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total value of $159,319.30. Following the transaction, the insider now directly owns 2,534 shares in the company, valued at approximately $268,249.24. This trade represents a 37.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Palomar Price Performance

NASDAQ:PLMR traded up $0.43 during trading hours on Friday, reaching $104.81. The company’s stock had a trading volume of 74,754 shares, compared to its average volume of 92,577. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 24.90 and a beta of 0.36. Palomar Holdings, Inc. has a one year low of $54.81 and a one year high of $112.90. The business’s 50-day moving average is $103.86 and its 200-day moving average is $95.96.

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 the consensus estimate of $134.72 million. During the same quarter in the prior year, the company posted $0.80 EPS. On average, sell-side analysts predict that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Palomar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLMR. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Palomar in the third quarter worth $25,000. GAMMA Investing LLC raised its holdings in Palomar by 48.6% in the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $36,000 after acquiring an additional 125 shares during the period. Farther Finance Advisors LLC lifted its position in Palomar by 490.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $43,000 after acquiring an additional 378 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Palomar during the second quarter valued at about $49,000. Finally, Covestor Ltd grew its position in shares of 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. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on PLMR. Jefferies Financial Group upped 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. Keefe, Bruyette & Woods increased their price objective on Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Piper Sandler boosted their target price on Palomar from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their target price on Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Three 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.com, the stock presently 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.