Palomar (NASDAQ:PLMR) President Jon Christianson Sells 1,691 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 1,691 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $139.50, for a total transaction of $235,894.50. Following the sale, the president owned 59,631 shares in the company, valued at $8,318,524.50. The trade was a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Tuesday, November 18th, Jon Christianson sold 522 shares of Palomar stock. The stock was sold at an average price of $128.84, for a total transaction of $67,254.48.

Palomar Stock Up 0.4%

NASDAQ PLMR traded up $0.60 on Monday, hitting $135.38. 131,162 shares of the stock were exchanged, compared to its average volume of 287,524. Palomar Holdings, Inc. has a fifty-two week low of $98.42 and a fifty-two week high of $175.85. The company has a 50-day moving average price of $123.23 and a 200-day moving average price of $127.41. The company has a market cap of $3.59 billion, a PE ratio of 21.12 and a beta of 0.49.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Friday, December 16th. The company reported $0.07 earnings per share (EPS) for the quarter. The business had revenue of $65.74 million during the quarter. Palomar had a net margin of 22.59% and a return on equity of 21.93%. As a group, equities research analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Ieq Capital LLC purchased a new stake in Palomar in the first quarter valued at approximately $243,000. Landscape Capital Management L.L.C. acquired a new position in shares of Palomar in the 1st quarter valued at $205,000. Trexquant Investment LP purchased a new stake in Palomar in the 1st quarter valued at $591,000. Evergreen Capital Management LLC boosted its stake in Palomar by 5.8% during the 1st quarter. Evergreen Capital Management LLC now owns 2,225 shares of the company’s stock worth $305,000 after purchasing an additional 122 shares during the period. Finally, Graham Capital Management L.P. acquired a new stake in Palomar during the 1st quarter worth $836,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PLMR. Keefe, Bruyette & Woods upped their price objective on Palomar from $164.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 11th. JPMorgan Chase & Co. boosted their target price on Palomar from $137.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Wall Street Zen downgraded Palomar from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Evercore ISI cut their price objective on shares of Palomar from $168.00 to $134.00 and set an “in-line” rating on the stock in a report on Wednesday, October 1st. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Palomar in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $157.67.

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.