Angela Grant Sells 1,447 Shares of Palomar (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) insider Angela Grant sold 1,447 shares of Palomar stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $119.88, for a total value of $173,466.36. Following the transaction, the insider directly owned 5,242 shares in the company, valued at approximately $628,410.96. The trade was a 21.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Palomar Price Performance

Shares of NASDAQ:PLMR traded up $0.38 on Friday, reaching $123.59. 266,025 shares of the company traded hands, compared to its average volume of 191,596. The company’s 50 day moving average is $127.64 and its 200-day moving average is $124.07. The stock has a market capitalization of $3.28 billion, a PE ratio of 19.28 and a beta of 0.42. Palomar Holdings, Inc. has a fifty-two week low of $104.47 and a fifty-two week high of $175.85.

Palomar (NASDAQ:PLMR) last released its earnings results on Thursday, November 6th. The company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.45. The business had revenue of $244.66 million for the quarter, compared to the consensus estimate of $207.98 million. Palomar had a net margin of 22.59% and a return on equity of 21.93%. During the same period last year, the firm posted $1.23 earnings per share. As a group, analysts expect that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Weiss Ratings raised Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, January 14th. JPMorgan Chase & Co. upped their price objective on shares of Palomar from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Wall Street Zen raised shares of Palomar from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Finally, Keefe, Bruyette & Woods lifted their price objective on Palomar from $170.00 to $171.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Palomar currently has an average rating of “Moderate Buy” and an average price target of $159.50.

Institutional Investors Weigh In On Palomar

Several hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. increased its holdings in shares of Palomar by 93.7% during the 2nd quarter. Osaic Holdings Inc. now owns 19,370 shares of the company’s stock worth $2,933,000 after purchasing an additional 9,371 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Palomar during the 3rd quarter valued at about $1,459,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Palomar by 11.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 456,172 shares of the company’s stock valued at $53,258,000 after purchasing an additional 45,665 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Palomar by 256.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,785 shares of the company’s stock valued at $6,445,000 after acquiring an additional 30,049 shares during the period. Finally, Y Intercept Hong Kong Ltd boosted its position in Palomar by 434.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 36,496 shares of the company’s stock valued at $4,261,000 after buying an additional 29,669 shares in the last quarter. 90.25% of the stock is owned by institutional investors.

About Palomar

Palomar Holdings, Inc (NASDAQ: PLMR) is a specialty insurance holding company focused on providing medical stop-loss coverage and related administrative services to self-funded employer health plans in the United States. The firm operates through two primary business segments—Medical Stop-Loss and Specialty Program Management—to deliver tailored risk protection and comprehensive program administration.

In its Medical Stop-Loss segment, Palomar underwrites excess and aggregate stop-loss policies designed to shield self-insured employers from catastrophic medical claims that exceed pre-determined retention levels.