Key Points
- President Jon Christianson sold 522 shares on Nov. 18 at an average price of $128.84 for $67,254.48, trimming his stake by 0.87% to 59,631 shares valued at about $7.68M.
- Palomar recently traded at $122.57 (up 0.8%), has a market cap of ~$3.25B, a P/E of 21.54 and a 52‑week range of $98.42–$175.85; last quarter it reported $0.07 EPS on $65.74M revenue with a 22.7% net margin.
- Analysts and institutions show support: the consensus rating is "Moderate Buy" with an average price target of $157.67, and institutional investors now own roughly 90.25% of the stock after several large position increases.
Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) insider Jonathan Knutzen sold 281 shares of the firm's stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $128.84, for a total transaction of $36,204.04. Following the completion of the transaction, the insider directly owned 21,565 shares in the company, valued at approximately $2,778,434.60. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Palomar Price Performance
NASDAQ PLMR traded up $1.34 during trading hours on Friday, hitting $123.00. 48,084 shares of the company's stock traded hands, compared to its average volume of 291,654. The company has a market capitalization of $3.26 billion, a PE ratio of 21.63 and a beta of 0.25. Palomar Holdings, Inc. has a 52-week low of $98.42 and a 52-week high of $175.85. The firm's 50-day moving average is $117.99 and its 200-day moving average is $134.40.
Palomar (NASDAQ:PLMR - Get Free Report) last released its earnings results on Friday, December 16th. The company reported $0.07 earnings per share for the quarter. Palomar had a net margin of 22.71% and a return on equity of 20.35%. The business had revenue of $65.74 million for the quarter. Equities research analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several analysts have issued reports on PLMR shares. Evercore ISI dropped their target price on Palomar from $168.00 to $134.00 and set an "in-line" rating for the company in a report on Wednesday, October 1st. Wall Street Zen raised shares of Palomar from a "hold" rating to a "buy" rating in a research note on Saturday, November 15th. Keefe, Bruyette & Woods boosted their target price on shares of Palomar from $164.00 to $170.00 and gave the company an "outperform" rating in a report on Tuesday, November 11th. Weiss Ratings restated a "hold (c+)" rating on shares of Palomar in a report on Wednesday, October 8th. Finally, Piper Sandler reduced their price target on shares of Palomar from $177.00 to $151.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $157.67.
Check Out Our Latest Research Report on Palomar
Hedge Funds Weigh In On Palomar
Institutional investors have recently bought and sold shares of the company. Allworth Financial LP increased its stake in Palomar by 1,970.0% during the second quarter. Allworth Financial LP now owns 207 shares of the company's stock worth $32,000 after purchasing an additional 197 shares during the period. Salomon & Ludwin LLC purchased a new position in shares of Palomar in the third quarter valued at approximately $25,000. Richardson Financial Services Inc. grew its holdings in shares of Palomar by 210.0% in the third quarter. Richardson Financial Services Inc. now owns 217 shares of the company's stock valued at $25,000 after purchasing an additional 147 shares in the last quarter. Maseco LLP purchased a new stake in Palomar during the 2nd quarter worth approximately $45,000. Finally, Hollencrest Capital Management lifted its holdings in Palomar by 56.5% during the 2nd quarter. Hollencrest Capital Management now owns 313 shares of the company's stock worth $48,000 after buying an additional 113 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
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