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

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 3,000 shares of the business’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $125.00, for a total transaction of $375,000.00. Following the transaction, the president owned 62,919 shares in the company, valued at approximately $7,864,875. The trade was a 4.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, February 18th, Jon Christianson sold 522 shares of Palomar stock. The stock was sold at an average price of $128.04, for a total transaction of $66,836.88.
• On Saturday, January 31st, Jon Christianson sold 515 shares of Palomar stock. The stock was sold at an average price of $121.75, for a total transaction of $62,701.25.
• On Saturday, January 31st, Jon Christianson sold 515 shares of Palomar stock. The stock was sold at an average price of $121.75, for a total transaction of $62,701.25.
• On Thursday, January 29th, Jon Christianson sold 1,158 shares of Palomar stock. The stock was sold at an average price of $122.04, for a total transaction of $141,322.32.
• On Thursday, January 29th, Jon Christianson sold 1,158 shares of Palomar stock. The stock was sold at an average price of $122.04, for a total transaction of $141,322.32.
• On Wednesday, January 28th, Jon Christianson sold 1,991 shares of Palomar stock. The stock was sold at an average price of $119.88, for a total transaction of $238,681.08.

Palomar Stock Performance

PLMR traded up $2.98 during trading on Wednesday, reaching $128.08. 228,406 shares of the stock were exchanged, compared to its average volume of 253,367. The stock has a market cap of $3.42 billion, a P/E ratio of 17.84 and a beta of 0.54. Palomar Holdings, Inc. has a twelve month low of $107.75 and a twelve month high of $175.85. The stock’s 50 day moving average price is $123.06 and its two-hundred day moving average price is $123.21.

Palomar (NASDAQ:PLMR) last issued its earnings results on Wednesday, February 11th. The company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.18. The business had revenue of $253.36 million for the quarter, compared to the consensus estimate of $204.58 million. Palomar had a net margin of 22.50% and a return on equity of 22.77%. The firm’s revenue for the quarter was up 62.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.52 earnings per share. Equities research analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PLMR has been the topic of several research reports. Weiss Ratings upgraded shares of Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 14th. JPMorgan Chase & Co. upped their price objective on shares of Palomar from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Keefe, Bruyette & Woods upped their price objective on shares of Palomar from $183.00 to $186.00 and gave the company an “outperform” rating in a report on Tuesday. Evercore initiated coverage on shares of Palomar in a report on Monday, February 9th. They issued an “outperform” rating and a $150.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Palomar from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $165.50.

Hedge Funds Weigh In On Palomar

Several institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its position in shares of Palomar by 14.0% in the third quarter. Principal Financial Group Inc. now owns 182,255 shares of the company’s stock valued at $21,278,000 after acquiring an additional 22,346 shares during the period. Osaic Holdings Inc. boosted its position in shares of Palomar by 93.7% in the second quarter. Osaic Holdings Inc. now owns 19,370 shares of the company’s stock valued at $2,933,000 after acquiring an additional 9,371 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of Palomar in the third quarter valued at about $1,459,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Palomar by 11.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 456,172 shares of the company’s stock valued at $53,258,000 after acquiring an additional 45,665 shares during the period. Finally, Elo Mutual Pension Insurance Co bought a new stake in shares of Palomar in the third quarter valued at about $1,392,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

About Palomar

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.