Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) President Jon Christianson sold 10,000 shares of Palomar stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $94.40, for a total value of $944,000.00. Following the sale, the president now directly owns 51,926 shares in the company, valued at $4,901,814.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
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 value of $182,700.00.
- On Thursday, June 20th, Jon Christianson sold 2,000 shares of Palomar stock. The stock was sold at an average price of $81.21, for a total value of $162,420.00.
Palomar Stock Performance
Shares of PLMR stock opened at $95.70 on Tuesday. Palomar Holdings, Inc. has a fifty-two week low of $48.08 and a fifty-two week high of $100.29. The stock has a 50 day simple moving average of $91.32 and a two-hundred day simple moving average of $84.42. The company has a market cap of $2.39 billion, a P/E ratio of 27.50 and a beta of 0.34.
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Palomar (NASDAQ:PLMR - Get Free Report) last announced its quarterly earnings data on Monday, August 5th. The company reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.16. Palomar had a return on equity of 20.83% and a net margin of 21.63%. The firm had revenue of $123.08 million during the quarter, compared to analysts' expectations of $338.74 million. During the same quarter last year, the firm posted $0.72 earnings per share. The company's revenue for the quarter was up 47.0% compared to the same quarter last year. On average, research analysts predict that Palomar Holdings, Inc. will post 4.37 earnings per share for the current year.
Wall Street Analysts Forecast Growth
PLMR has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their price objective on Palomar from $96.00 to $113.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 13th. Truist Financial raised their price objective on Palomar from $100.00 to $112.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price on Palomar from $88.00 to $91.00 and gave the stock a "neutral" rating in a report on Thursday, July 11th. Evercore ISI lifted their target price on Palomar from $90.00 to $99.00 and gave the stock an "in-line" rating in a report on Tuesday, August 6th. Finally, Piper Sandler lifted their target price on Palomar from $99.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $101.33.
View Our Latest Stock Analysis on Palomar
Institutional Investors Weigh In On Palomar
A number of hedge funds have recently added to or reduced their stakes in PLMR. Truist Financial Corp purchased a new position in shares of Palomar during the second quarter valued at approximately $461,000. Algert Global LLC boosted its position in shares of Palomar by 18.5% during the second quarter. Algert Global LLC now owns 37,687 shares of the company's stock valued at $3,058,000 after buying an additional 5,896 shares during the last quarter. Driehaus Capital Management LLC boosted its position in shares of Palomar by 17.1% during the second quarter. Driehaus Capital Management LLC now owns 300,213 shares of the company's stock valued at $24,362,000 after buying an additional 43,841 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Palomar by 0.7% during the second quarter. The Manufacturers Life Insurance Company now owns 60,123 shares of the company's stock valued at $4,879,000 after buying an additional 426 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Palomar by 17.7% during the second quarter. AQR Capital Management LLC now owns 44,691 shares of the company's stock valued at $3,627,000 after buying an additional 6,735 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.
Palomar Company Profile
(
Get Free Report)
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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