Jon Christianson Sells 1,937 Shares of Palomar (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 1,937 shares of Palomar stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $128.62, for a total value of $249,136.94. Following the completion of the transaction, the president owned 65,919 shares in the company, valued at $8,478,501.78. This trade represents a 2.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 Tuesday, April 7th, Jon Christianson sold 3,000 shares of Palomar stock. The shares were sold at an average price of $125.00, for a total value of $375,000.00.
• On Wednesday, February 18th, Jon Christianson sold 522 shares of Palomar stock. The shares were sold at an average price of $128.04, for a total value of $66,836.88.
• On Saturday, January 31st, Jon Christianson sold 515 shares of Palomar stock. The shares were sold at an average price of $121.75, for a total value of $62,701.25.
• On Saturday, January 31st, Jon Christianson sold 515 shares of Palomar stock. The shares were sold at an average price of $121.75, for a total value of $62,701.25.
• On Thursday, January 29th, Jon Christianson sold 1,158 shares of Palomar stock. The shares were sold at an average price of $122.04, for a total value of $141,322.32.
• On Thursday, January 29th, Jon Christianson sold 1,158 shares of Palomar stock. The shares were sold at an average price of $122.04, for a total value of $141,322.32.
• On Wednesday, January 28th, Jon Christianson sold 1,991 shares of Palomar stock. The shares were sold at an average price of $119.88, for a total value of $238,681.08.

Palomar Price Performance

PLMR opened at $132.55 on Friday. The business has a 50 day simple moving average of $124.08 and a 200-day simple moving average of $123.92. The stock has a market capitalization of $3.51 billion, a P/E ratio of 18.46 and a beta of 0.54. Palomar Holdings, Inc. has a 12 month low of $107.75 and a 12 month high of $175.85.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.06 by $0.18. The business had revenue of $253.36 million during the quarter, compared to analysts’ expectations of $204.58 million. Palomar had a return on equity of 22.77% and a net margin of 22.50%.The company’s quarterly revenue was up 62.7% compared to the same quarter last year. During the same period last year, the firm earned $1.52 EPS. Research analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Hedge Funds Weigh In On Palomar

Institutional investors have recently made changes to their positions in the stock. Salomon & Ludwin LLC acquired a new position in shares of Palomar in the third quarter worth $25,000. Richardson Financial Services Inc. raised its holdings in shares of Palomar by 210.0% in the third quarter. Richardson Financial Services Inc. now owns 217 shares of the company’s stock worth $25,000 after acquiring an additional 147 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Palomar in the fourth quarter worth $32,000. Kestra Advisory Services LLC acquired a new position in shares of Palomar in the fourth quarter worth $33,000. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Palomar by 81.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 294 shares of the company’s stock worth $40,000 after acquiring an additional 132 shares during the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on PLMR. Weiss Ratings cut Palomar from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, April 7th. Wall Street Zen cut Palomar from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. Evercore began coverage on Palomar in a report on Monday, February 9th. They issued an “outperform” rating and a $150.00 price target for the company. JPMorgan Chase & Co. raised their price target on Palomar from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Finally, Keefe, Bruyette & Woods raised their price target on Palomar from $183.00 to $186.00 and gave the company an “outperform” rating in a report on Tuesday, April 7th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Palomar has a consensus rating of “Moderate Buy” and a consensus price target of $161.75.

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.