Insider Selling: Palomar (NASDAQ:PLMR) Insider Sells $46,497.24 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) insider Jonathan Knutzen sold 381 shares of the company’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $122.04, for a total transaction of $46,497.24. Following the completion of the sale, the insider directly owned 25,658 shares of the company’s stock, valued at $3,131,302.32. The trade was a 1.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Jonathan Knutzen also recently made the following trade(s):

• On Thursday, January 29th, Jonathan Knutzen sold 444 shares of Palomar stock. The stock was sold at an average price of $122.04, for a total transaction of $54,185.76.
• On Thursday, January 29th, Jonathan Knutzen sold 444 shares of Palomar stock. The shares were sold at an average price of $122.04, for a total value of $54,185.76.
• On Saturday, January 31st, Jonathan Knutzen sold 290 shares of Palomar stock. The stock was sold at an average price of $121.74, for a total value of $35,304.60.
• On Wednesday, January 28th, Jonathan Knutzen sold 1,535 shares of Palomar stock. The shares were sold at an average price of $119.88, for a total value of $184,015.80.
• On Tuesday, November 18th, Jonathan Knutzen sold 281 shares of Palomar stock. The shares were sold at an average price of $128.84, for a total value of $36,204.04.

Palomar Price Performance

NASDAQ PLMR opened at $122.99 on Thursday. The business’s fifty day moving average is $127.61 and its 200-day moving average is $123.44. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 19.19 and a beta of 0.44. Palomar Holdings, Inc. has a one year low of $107.01 and a one year high of $175.85.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PLMR. Royal Bank of Canada raised its holdings in Palomar by 49.1% during the 1st quarter. Royal Bank of Canada now owns 2,956 shares of the company’s stock valued at $406,000 after acquiring an additional 974 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Palomar by 5.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,427 shares of the company’s stock valued at $2,115,000 after purchasing an additional 791 shares in the last quarter. NewEdge Advisors LLC bought a new stake in shares of Palomar during the 1st quarter valued at $66,000. United Services Automobile Association bought a new stake in shares of Palomar during the 1st quarter valued at $223,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Palomar by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,661 shares of the company’s stock worth $9,960,000 after purchasing an additional 7,754 shares in the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Palomar Company Profile

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.