Timothy Carter Sells 473 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) insider Timothy Carter sold 473 shares of the business's stock in a transaction on Saturday, June 28th. The shares were sold at an average price of $153.65, for a total transaction of $72,676.45. Following the sale, the insider directly owned 361 shares in the company, valued at approximately $55,467.65. This trade represents a 56.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Palomar Trading Up 1.7%

NASDAQ PLMR traded up $2.45 during trading on Friday, reaching $146.10. The company's stock had a trading volume of 247,177 shares, compared to its average volume of 215,883. The stock has a market capitalization of $3.91 billion, a PE ratio of 29.16 and a beta of 0.46. Palomar Holdings, Inc. has a 1-year low of $79.82 and a 1-year high of $175.85. The business has a 50-day moving average price of $158.02 and a 200-day moving average price of $134.69.

Palomar (NASDAQ:PLMR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.26. The business had revenue of $174.63 million during the quarter, compared to analyst estimates of $161.97 million. Palomar had a net margin of 21.99% and a return on equity of 20.56%. During the same quarter in the previous year, the business earned $1.09 EPS. As a group, analysts expect that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Institutional Trading of Palomar

Institutional investors and hedge funds have recently made changes to their positions in the stock. Artemis Investment Management LLP increased its holdings in shares of Palomar by 17.0% during the 1st quarter. Artemis Investment Management LLP now owns 532,554 shares of the company's stock valued at $73,003,000 after acquiring an additional 77,472 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Palomar by 30.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,907 shares of the company's stock worth $6,854,000 after purchasing an additional 14,965 shares during the period. GAMMA Investing LLC grew its holdings in Palomar by 27,543.8% during the first quarter. GAMMA Investing LLC now owns 99,794 shares of the company's stock valued at $13,680,000 after purchasing an additional 99,433 shares during the last quarter. Yorktown Management & Research Co Inc bought a new position in shares of Palomar in the first quarter valued at approximately $274,000. Finally, Atlas Capital Advisors Inc. lifted its stake in shares of Palomar by 175.5% in the fourth quarter. Atlas Capital Advisors Inc. now owns 141,284 shares of the company's stock worth $14,918,000 after buying an additional 90,000 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wall Street Zen downgraded Palomar from a "buy" rating to a "hold" rating in a report on Saturday. Keefe, Bruyette & Woods dropped their price objective on shares of Palomar from $205.00 to $204.00 and set an "outperform" rating on the stock in a research note on Monday, June 30th. Piper Sandler increased their target price on shares of Palomar from $171.00 to $177.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Jefferies Financial Group boosted their price target on shares of Palomar from $145.00 to $168.00 and gave the company a "buy" rating in a report on Friday, April 11th. Finally, Truist Financial upped their price target on shares of Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $174.17.

About Palomar

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.