Palomar Holdings Insider Angela L. Grant Sells Shares

On January 1st, 2025, Angela L. Grant, an insider at Palomar Holdings, Inc. (NASDAQ:PLMR), sold 1,505 shares of the company's stock. The shares were sold at an average price of $105.86, resulting in a total transaction value of $159,319.30. After this sale, Grant now holds 2,534 shares in the company, which are valued at approximately $268,249.24. This transaction marked a 37.26% reduction in Grant's ownership of Palomar shares. Details of this sale have been disclosed in a report filed with the Securities and Exchange Commission (SEC), which can be accessed on the SEC website.

Recent Stock Performance

On Friday, Palomar Holdings' shares opened at $104.81. The company has a market capitalization of approximately $2.77 billion and displays a P/E ratio of 24.90 along with a beta of 0.36. The stock’s fifty-day simple moving average stands at $103.86, while its 200-day simple moving average is $95.96. Over the past year, Palomar's share price has ranged from a low of $54.81 to a high of $112.90.

Quarterly Earnings Overview

Palomar Holdings recently announced its quarterly earnings on November 4th. The company achieved earnings per share (EPS) of $1.23, exceeding analysts' expectations of $1.03 by $0.20. Additionally, Palomar reported revenue of $148.50 million, surpassing the forecast of $134.72 million. The company also noted a net margin of 21.55% and a return on equity of 19.65%. In the same quarter last year, Palomar had an EPS of $0.80. Analysts predict that Palomar Holdings will report an EPS of 4.33 for the current fiscal year.

Institutional Investment Activity

Recent trading activities reflect a series of purchases and sales by hedge funds and institutional investors in Palomar Holdings. For instance, State Street Corp increased its stake in the company by 3.0% during the third quarter, acquiring an additional 32,151 shares, bringing its total to 1,097,702 shares, valued at $103,919,000. Geode Capital Management LLC saw a 3.2% increase in its shares, totaling 600,092 shares worth $56,822,000, following the acquisition of 18,335 additional shares. Similarly, Dimensional Fund Advisors LP grew its stake by 15.0%, now owning 508,870 shares valued at $41,295,000. Furthermore, Emerald Advisers LLC increased its holdings by 1.9%, totaling 449,973 shares worth $42,599,000. A significant 90.25% of Palomar's stock is currently held by hedge funds and institutional investors.

Analyst Positioning

Several equity analysts have issued their opinions on Palomar's stock recently. Piper Sandler raised its price target from $105.00 to $110.00, classifying the stock as “overweight”. Keefe, Bruyette & Woods increased their target from $120.00 to $136.00 and rated the stock as “outperform”. On the other hand, Jefferies Financial Group adjusted their price target from $110.00 to $113.00, issuing a “buy” rating. Furthermore, JPMorgan Chase & Co. lifted their price objective for Palomar shares from $93.00 to $100.00 while maintaining a “neutral” rating. Currently, three analysts have a hold rating for the stock, while four analysts have classified it as a buy. According to data from MarketBeat.com, Palomar has an average rating of “Moderate Buy” and a consensus target price of $111.67.

About Palomar Holdings

Palomar Holdings, Inc. is a specialty insurance provider, offering property and casualty insurance products for residential and commercial markets in the United States. The company specializes in personal and commercial specialty property insurance, including earthquake, fronting, all-risk coverage, specialty homeowners’ insurance, inland marine, hurricane protection in Hawaii, and residential flood insurance, among other products.

Palomar, Insider, Sale