Jon Christianson Sells 2,000 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 2,000 shares of Palomar stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $76.30, for a total value of $152,600.00. Following the completion of the transaction, the president now owns 57,761 shares in the company, valued at $4,407,164.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, March 14th, Jon Christianson sold 10,000 shares of Palomar stock. The shares were sold at an average price of $82.09, for a total value of $820,900.00.
• On Wednesday, February 14th, Jon Christianson sold 2,000 shares of Palomar stock. The shares were sold at an average price of $60.00, for a total value of $120,000.00.
• On Wednesday, January 31st, Jon Christianson sold 356 shares of Palomar stock. The shares were sold at an average price of $59.19, for a total transaction of $21,071.64.
• On Friday, January 26th, Jon Christianson sold 423 shares of Palomar stock. The stock was sold at an average price of $60.13, for a total transaction of $25,434.99.

Palomar Price Performance

Shares of NASDAQ:PLMR opened at $79.22 on Friday. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 25.39 and a beta of 0.21. The business’s fifty day moving average price is $76.95 and its two-hundred day moving average price is $64.17. Palomar Holdings, Inc. has a fifty-two week low of $46.09 and a fifty-two week high of $86.25.

Palomar (NASDAQ:PLMR) last posted its earnings results on Wednesday, February 14th. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.09. Palomar had a net margin of 21.07% and a return on equity of 19.35%. The business had revenue of $102.35 million for the quarter, compared to analyst estimates of $95.07 million. Research analysts expect that Palomar Holdings, Inc. will post 3.84 EPS for the current fiscal year.

Institutional Trading of Palomar

Several hedge funds have recently modified their holdings of PLMR. UBS Group AG grew its position in Palomar by 7,440.0% during the 3rd quarter. UBS Group AG now owns 377 shares of the company’s stock worth $32,000 after acquiring an additional 372 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Palomar by 59.4% during the fourth quarter. Signaturefd LLC now owns 593 shares of the company’s stock worth $33,000 after purchasing an additional 221 shares during the last quarter. FMR LLC increased its stake in shares of Palomar by 89.9% in the first quarter. FMR LLC now owns 864 shares of the company’s stock valued at $48,000 after buying an additional 409 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Palomar in the first quarter valued at about $55,000. Finally, Atwood & Palmer Inc. lifted its position in Palomar by 66.7% during the 1st quarter. Atwood & Palmer Inc. now owns 750 shares of the company’s stock worth $63,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PLMR shares. Truist Financial increased their target price on shares of Palomar from $72.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, February 16th. JMP Securities reissued a “market perform” rating on shares of Palomar in a report on Monday, April 15th. Piper Sandler upped their target price on Palomar from $80.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. JPMorgan Chase & Co. downgraded shares of Palomar from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $79.00 to $85.00 in a research note on Monday, April 8th. Finally, Evercore ISI increased their price objective on shares of Palomar from $68.00 to $86.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. 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 stock has an average rating of “Moderate Buy” and a consensus price target of $87.50.

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.