Palomar (NASDAQ:PLMR) President Jon Christianson Sells 1,991 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 1,991 shares of the firm’s stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $119.88, for a total value of $238,681.08. Following the sale, the president owned 62,985 shares of the company’s stock, valued at $7,550,641.80. The trade was a 3.06% decrease in their ownership of the stock. The sale 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, December 23rd, Jon Christianson sold 1,691 shares of Palomar stock. The stock was sold at an average price of $139.50, for a total transaction of $235,894.50.
• On Tuesday, November 18th, Jon Christianson sold 522 shares of Palomar stock. The shares were sold at an average price of $128.84, for a total transaction of $67,254.48.

Palomar Price Performance

Palomar stock traded up $0.38 during trading hours on Friday, hitting $123.59. The company had a trading volume of 266,025 shares, compared to its average volume of 191,596. Palomar Holdings, Inc. has a fifty-two week low of $104.47 and a fifty-two week high of $175.85. The firm has a market capitalization of $3.28 billion, a P/E ratio of 19.28 and a beta of 0.42. The firm’s fifty day moving average is $127.64 and its 200-day moving average is $124.07.

Palomar (NASDAQ:PLMR) last issued its earnings results on Thursday, November 6th. The company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.45. Palomar had a return on equity of 21.93% and a net margin of 22.59%.The firm had revenue of $244.66 million for the quarter, compared to the consensus estimate of $207.98 million. During the same quarter in the previous year, the company posted $1.23 earnings per share. Analysts anticipate that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Hedge Funds Weigh In On Palomar

Institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its stake in Palomar by 49.1% during the 1st quarter. Royal Bank of Canada now owns 2,956 shares of the company’s stock valued at $406,000 after purchasing an additional 974 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Palomar by 5.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,427 shares of the company’s stock valued at $2,115,000 after acquiring an additional 791 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of Palomar in the first quarter worth $66,000. United Services Automobile Association bought a new position in Palomar during the first quarter worth $223,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Palomar by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,661 shares of the company’s stock valued at $9,960,000 after purchasing an additional 7,754 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PLMR has been the topic of several recent research reports. Weiss Ratings raised shares of Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, January 14th. Keefe, Bruyette & Woods lifted their price objective on shares of Palomar from $170.00 to $171.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Wall Street Zen raised shares of Palomar from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Finally, JPMorgan Chase & Co. raised their target price on Palomar from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, January 7th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $159.50.

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.