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

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 3,000 shares of the stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $139.50, for a total transaction of $418,500.00. Following the transaction, the president directly owned 66,478 shares of the company’s stock, valued at $9,273,681. The trade was a 4.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 shares were sold at an average price of $139.50, for a total value of $957,388.50.

Palomar Trading Up 3.6%

Shares of NASDAQ PLMR traded up $5.12 during trading on Tuesday, reaching $145.92. The stock had a trading volume of 52,400 shares, compared to its average volume of 270,693. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.49 and a current ratio of 0.49. The company has a market cap of $3.87 billion, a P/E ratio of 20.32 and a beta of 0.41. Palomar Holdings, Inc. has a fifty-two week low of $100.81 and a fifty-two week high of $147.62. The business’s 50-day moving average price is $122.34 and its 200-day moving average price is $123.21.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.14. The business had revenue of $278.94 million for the quarter, compared to analysts’ expectations of $557.79 million. Palomar had a net margin of 20.11% and a return on equity of 22.62%. The business’s quarterly revenue was up 59.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.87 earnings per share. On average, equities research analysts predict that Palomar Holdings, Inc. will post 8.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Palomar

Institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. acquired a new stake in Palomar in the fourth quarter valued at $32,000. Kestra Advisory Services LLC acquired a new position in shares of Palomar during the 4th quarter worth about $33,000. Rockefeller Capital Management L.P. boosted its position in shares of Palomar by 81.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 294 shares of the company’s stock worth $40,000 after acquiring an additional 132 shares in the last quarter. Frazier Financial Advisors LLC purchased a new position in shares of Palomar in the 4th quarter valued at about $54,000. Finally, Parallel Advisors LLC increased its holdings in shares of Palomar by 638.3% in the 1st quarter. Parallel Advisors LLC now owns 443 shares of the company’s stock valued at $53,000 after acquiring an additional 383 shares during the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.