Palomar (NASDAQ:PLMR) Insider Sells $48,449.88 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) insider Angela Grant sold 397 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 value of $48,449.88. Following the completion of the transaction, the insider directly owned 5,939 shares of the company’s stock, valued at approximately $724,795.56. This trade represents a 6.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Palomar Trading Up 0.9%

NASDAQ PLMR opened at $122.99 on Thursday. Palomar Holdings, Inc. has a 12 month low of $107.01 and a 12 month high of $175.85. The stock has a market cap of $3.26 billion, a PE ratio of 19.19 and a beta of 0.44. The stock’s 50 day moving average is $127.61 and its 200 day moving average is $123.44.

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC purchased a new stake in Palomar during the fourth quarter valued at approximately $443,000. Swiss Life Asset Management Ltd bought a new position in shares of Palomar during the 4th quarter valued at approximately $354,000. Aubrey Capital Management Ltd bought a new position in shares of Palomar during the 4th quarter valued at approximately $2,318,000. F m Investments LLC raised its holdings in Palomar by 17.9% during the 4th quarter. F m Investments LLC now owns 49,665 shares of the company’s stock valued at $6,693,000 after buying an additional 7,529 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in Palomar in the fourth quarter worth $96,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

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.