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

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 2,000 shares of the business’s 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 sale, the president now owns 57,761 shares of the company’s stock, valued at approximately $4,407,164.30. The sale was disclosed in a legal filing with the SEC, 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 stock was 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 stock was 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 stock was sold at an average price of $59.19, for a total value 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 value of $25,434.99.

Palomar Trading Up 1.1 %

Palomar stock opened at $77.77 on Friday. The stock has a market cap of $1.94 billion, a P/E ratio of 24.93 and a beta of 0.21. The stock has a 50 day moving average of $76.59 and a 200-day moving average of $63.86. Palomar Holdings, Inc. has a 52 week low of $46.09 and a 52 week high of $86.25.

Palomar (NASDAQ:PLMR) last released its earnings results on Wednesday, February 14th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.85 by $0.09. The company had revenue of $102.35 million during the quarter, compared to analysts’ expectations of $95.07 million. Palomar had a return on equity of 19.35% and a net margin of 21.07%. As a group, equities analysts predict that Palomar Holdings, Inc. will post 3.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

PLMR has been the subject of a number of analyst reports. Jefferies Financial Group upgraded Palomar from a “hold” rating to a “buy” rating and upped their price target for the stock from $78.00 to $88.00 in a report on Thursday, March 14th. Evercore ISI upped their price target on Palomar from $68.00 to $86.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. JMP Securities restated a “market perform” rating on shares of Palomar in a report on Monday. Keefe, Bruyette & Woods upped their price target on Palomar from $88.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. cut Palomar from an “overweight” rating to a “neutral” rating and increased their target price for the company from $79.00 to $85.00 in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.50.

Institutional Investors Weigh In On Palomar

Several institutional investors and hedge funds have recently made changes to their positions in the company. New York State Common Retirement Fund raised its position in shares of Palomar by 1.8% during the 3rd quarter. New York State Common Retirement Fund now owns 10,099 shares of the company’s stock valued at $513,000 after acquiring an additional 182 shares in the last quarter. Sei Investments Co. raised its position in shares of Palomar by 0.3% during the 4th quarter. Sei Investments Co. now owns 72,261 shares of the company’s stock valued at $4,011,000 after acquiring an additional 188 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Palomar by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,002 shares of the company’s stock valued at $581,000 after acquiring an additional 190 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Palomar by 3.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,387 shares of the company’s stock valued at $313,000 after acquiring an additional 198 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its position in shares of Palomar by 5.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 4,210 shares of the company’s stock valued at $214,000 after acquiring an additional 210 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

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.