Jon Christianson Sells 10,000 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) President Jon Christianson sold 10,000 shares of the business's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $94.40, for a total transaction of $944,000.00. Following the completion of the transaction, the president now directly owns 51,926 shares of the company's stock, valued at approximately $4,901,814.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, July 17th, Jon Christianson sold 2,000 shares of Palomar stock. The stock was sold at an average price of $91.35, for a total transaction of $182,700.00.
• On Thursday, June 20th, Jon Christianson sold 2,000 shares of Palomar stock. The shares were sold at an average price of $81.21, for a total transaction of $162,420.00.

Palomar Trading Up 1.3 %

Shares of Palomar stock traded up $1.19 during trading hours on Monday, reaching $95.70. The stock had a trading volume of 302,614 shares, compared to its average volume of 165,637. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 26.83 and a beta of 0.34. Palomar Holdings, Inc. has a 1 year low of $48.08 and a 1 year high of $100.29. The firm has a 50 day simple moving average of $91.07 and a two-hundred day simple moving average of $84.28.

Palomar (NASDAQ:PLMR - Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.16. Palomar had a net margin of 21.63% and a return on equity of 20.83%. The firm had revenue of $123.08 million for the quarter, compared to analysts' expectations of $338.74 million. During the same period in the previous year, the company posted $0.72 earnings per share. Palomar's revenue was up 47.0% compared to the same quarter last year. Sell-side analysts forecast that Palomar Holdings, Inc. will post 4.37 EPS for the current year.

Institutional Trading of Palomar

A number of hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC boosted its position in Palomar by 375,455.6% in the 4th quarter. International Assets Investment Management LLC now owns 33,800 shares of the company's stock valued at $1,876,000 after buying an additional 33,791 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Palomar by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 201,759 shares of the company's stock valued at $11,198,000 after acquiring an additional 5,897 shares in the last quarter. Versor Investments LP bought a new position in Palomar during the fourth quarter worth $377,000. Teacher Retirement System of Texas acquired a new position in Palomar in the fourth quarter worth $328,000. Finally, BNP Paribas Financial Markets increased its stake in Palomar by 26.9% during the fourth quarter. BNP Paribas Financial Markets now owns 31,612 shares of the company's stock valued at $1,754,000 after purchasing an additional 6,709 shares during the last quarter. Hedge funds and other institutional investors own 90.25% of the company's stock.

Wall Street Analyst Weigh In

PLMR has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price target on Palomar from $88.00 to $91.00 and gave the company a "neutral" rating in a report on Thursday, July 11th. Evercore ISI upped their target price on Palomar from $90.00 to $99.00 and gave the company an "in-line" rating in a research note on Tuesday, August 6th. Keefe, Bruyette & Woods raised their price target on Palomar from $96.00 to $113.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 13th. Piper Sandler upped their price objective on shares of Palomar from $99.00 to $105.00 and gave the company an "overweight" rating in a research note on Wednesday, August 7th. Finally, Truist Financial increased their price objective on shares of Palomar from $100.00 to $112.00 and gave the stock a "buy" rating in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $101.33.

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.

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