Palomar (NASDAQ:PLMR) President Jon Christianson Sells 528 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 528 shares of Palomar stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $127.75, for a total value of $67,452.00. Following the completion of the transaction, the president owned 66,970 shares in the company, valued at approximately $8,555,417.50. This represents a 0.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, July 20th, Jon Christianson sold 3,000 shares of Palomar stock. The stock was sold at an average price of $139.50, for a total value of $418,500.00.
• On Thursday, July 2nd, Jon Christianson sold 6,863 shares of Palomar stock. The stock was sold at an average price of $139.50, for a total transaction of $957,388.50.

Palomar Stock Performance

Shares of Palomar stock opened at $128.87 on Friday. The business’s fifty day simple moving average is $130.45 and its 200 day simple moving average is $123.88. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $3.39 billion, a P/E ratio of 17.32 and a beta of 0.40. Palomar Holdings, Inc. has a 12 month low of $100.81 and a 12 month high of $147.62.

Palomar (NASDAQ:PLMR) last released its earnings results on Tuesday, August 4th. The company reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.17. The business had revenue of $314.42 million during the quarter, compared to the consensus estimate of $621.52 million. Palomar had a return on equity of 23.28% and a net margin of 18.61%.During the same period last year, the business posted $1.76 earnings per share. As a group, analysts anticipate that Palomar Holdings, Inc. will post 9.14 EPS for the current year.

Palomar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Wednesday, August 19th. Palomar’s dividend payout ratio is currently 24.19%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PLMR shares. JPMorgan Chase & Co. raised their price objective on Palomar from $150.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Piper Sandler upped their price target on shares of Palomar from $132.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods raised their price target on shares of Palomar from $166.00 to $167.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Evercore set a $152.00 price objective on Palomar in a research report on Friday, July 10th. Finally, Zacks Research cut shares of Palomar from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $162.75.

Institutional Trading of Palomar

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Palomar during the second quarter valued at approximately $556,348,000. Jupiter Topco LLC bought a new stake in shares of Palomar in the 2nd quarter worth $132,166,000. Freestone Grove Partners LP purchased a new position in shares of Palomar in the second quarter worth $78,657,000. Janus Henderson Group PLC increased its holdings in Palomar by 250.1% in the 4th quarter. Janus Henderson Group PLC now owns 795,625 shares of the company’s stock worth $107,237,000 after buying an additional 568,360 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Palomar by 290.2% in the 2nd quarter. Alliancebernstein L.P. now owns 497,080 shares of the company’s stock worth $76,675,000 after buying an additional 369,697 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors.

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.