Palomar (NASDAQ:PLMR) President Jon Christianson Sells 3,000 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 3,000 shares of the business’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $139.50, for a total transaction of $418,500.00. Following the completion of the transaction, the president directly owned 66,478 shares in the company, valued at $9,273,681. This represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jon Christianson also recently made the following trade(s):

• On Thursday, July 2nd, Jon Christianson sold 6,863 shares of Palomar stock. The stock was sold at an average price of $139.50, for a total transaction of $957,388.50.

Palomar Trading Up 1.7%

Shares of Palomar stock opened at $143.16 on Wednesday. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of 19.94 and a beta of 0.41. Palomar Holdings, Inc. has a 52-week low of $100.81 and a 52-week high of $147.62. The company’s 50-day simple moving average is $122.94 and its 200-day simple moving average is $123.31. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.31.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.17 by $0.14. The business had revenue of $278.94 million during the quarter, compared to analysts’ expectations of $557.79 million. Palomar had a return on equity of 22.62% and a net margin of 20.11%.The company’s quarterly revenue was up 59.7% compared to the same quarter last year. During the same period last year, the firm earned $1.87 EPS. As a group, equities research analysts anticipate that Palomar Holdings, Inc. will post 8.9 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on PLMR shares. Evercore set a $152.00 price objective on Palomar in a research report on Friday, July 10th. Zacks Research cut shares of Palomar from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. JPMorgan Chase & Co. upped their price target on shares of Palomar from $150.00 to $167.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Weiss Ratings upgraded shares of Palomar from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 18th. Finally, Piper Sandler raised their price objective on shares of Palomar from $132.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Palomar presently has a consensus rating of “Moderate Buy” and an average target price of $162.50.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Summit Global Investments lifted its holdings in Palomar by 1.7% in the 4th quarter. Summit Global Investments now owns 4,646 shares of the company’s stock valued at $626,000 after purchasing an additional 79 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Palomar by 3.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,546 shares of the company’s stock worth $333,000 after purchasing an additional 82 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Palomar by 2.0% during the fourth quarter. Quadrant Capital Group LLC now owns 4,464 shares of the company’s stock worth $602,000 after buying an additional 88 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Palomar by 0.4% during the second quarter. California State Teachers Retirement System now owns 24,207 shares of the company’s stock worth $3,734,000 after buying an additional 97 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Palomar by 11.7% in the fourth quarter. Covestor Ltd now owns 1,254 shares of the company’s stock valued at $169,000 after buying an additional 131 shares during the last quarter. Institutional investors and hedge funds 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.