Palomar (NASDAQ:PLMR) Insider Jonathan Knutzen Sells 1,535 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) insider Jonathan Knutzen sold 1,535 shares of the business’s stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $119.88, for a total transaction of $184,015.80. Following the sale, the insider directly owned 24,809 shares in the company, valued at approximately $2,974,102.92. This represents a 5.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Jonathan Knutzen also recently made the following trade(s):

• On Tuesday, November 18th, Jonathan Knutzen sold 281 shares of Palomar stock. The shares were sold at an average price of $128.84, for a total transaction of $36,204.04.

Palomar Stock Performance

Shares of PLMR stock opened at $123.59 on Friday. The stock has a fifty day moving average price of $127.65 and a 200 day moving average price of $123.95. The stock has a market cap of $3.28 billion, a PE ratio of 19.28 and a beta of 0.42. Palomar Holdings, Inc. has a 1 year low of $104.47 and a 1 year high of $175.85.

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

Palomar News Summary

Here are the key news stories impacting Palomar this week:

• Neutral Sentiment: Yahoo Finance published a piece asking whether PLMR’s recent price slide creates a long?term buying opportunity — a constructive framing for value investors but speculative. Is Palomar Holdings (PLMR) Price Slide Creating A Long Term Opportunity For Investors
• Negative Sentiment: CEO Mac Armstrong sold 11,484 shares at $119.88 (?$1.38M); his post-sale holding is 91,737 shares (11.13% decrease). SEC filing: CEO Sale Filing
• Negative Sentiment: President Jon Christianson sold 1,991 shares at $119.88 (?$238.7k); post-sale holding 62,985 shares (3.06% decrease). SEC filing: President Sale Filing
• Negative Sentiment: CFO T. Christopher Uchida sold 2,103 shares at $119.88 (?$252.1k); post-sale holding 11,473 shares (15.49% decrease). SEC filing: CFO Sale Filing
• Negative Sentiment: Insider Jonathan Knutzen sold 1,535 shares at $119.88 (?$184.0k); post-sale holding 24,809 shares (5.83% decrease). SEC filing: Insider Sale Filing
• Negative Sentiment: Insider Angela L. Grant sold 1,447 shares at $119.88 (?$173.5k); post-sale holding 5,242 shares (21.63% decrease). SEC filing: Insider Sale Filing

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its holdings in shares of Palomar by 49.1% during the first quarter. Royal Bank of Canada now owns 2,956 shares of the company’s stock worth $406,000 after purchasing an additional 974 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 purchasing an additional 791 shares during the last quarter. NewEdge Advisors LLC purchased a new position in Palomar during the first quarter worth about $66,000. United Services Automobile Association acquired a new stake in Palomar in the 1st quarter worth about $223,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Palomar by 11.9% in 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 buying an additional 7,754 shares during the period. Hedge funds and other institutional investors own 90.25% of the company’s stock.

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.