Jon Christianson Sells 3,000 Shares of Palomar (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 3,000 shares of the company’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $139.50, for a total transaction of $418,500.00. Following the completion of the transaction, the president owned 66,478 shares of the company’s stock, valued at $9,273,681. This trade represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, July 2nd, Jon Christianson sold 6,863 shares of Palomar stock. The shares were sold at an average price of $139.50, for a total value of $957,388.50.

Palomar Trading Down 0.2%

NASDAQ PLMR opened at $142.91 on Thursday. The stock’s 50-day simple moving average is $123.48 and its two-hundred day simple moving average is $123.40. Palomar Holdings, Inc. has a twelve month low of $100.81 and a twelve month high of $147.62. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 19.90 and a beta of 0.41.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.14. The firm had revenue of $278.94 million during the quarter, compared to analysts’ expectations of $557.79 million. Palomar had a return on equity of 22.62% and a net margin of 20.11%.The company’s revenue for the quarter was up 59.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.87 EPS. Research analysts forecast that Palomar Holdings, Inc. will post 8.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Palomar

Institutional investors and hedge funds have recently bought and sold shares of the stock. HighTower Advisors LLC increased its stake in Palomar by 652.7% in the 4th quarter. HighTower Advisors LLC now owns 17,613 shares of the company’s stock worth $2,374,000 after purchasing an additional 15,273 shares during the period. Moran Wealth Management LLC purchased a new stake in shares of Palomar during the fourth quarter valued at approximately $2,473,000. Stephens Investment Management Group LLC grew its holdings in shares of Palomar by 19.8% in the fourth quarter. Stephens Investment Management Group LLC now owns 694,317 shares of the company’s stock worth $93,566,000 after purchasing an additional 114,859 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Palomar by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 2,698,278 shares of the company’s stock worth $363,620,000 after buying an additional 67,038 shares during the period. Finally, Danske Bank A S increased its stake in shares of Palomar by 69.9% in the fourth quarter. Danske Bank A S now owns 138,295 shares of the company’s stock worth $18,637,000 after buying an additional 56,898 shares during the period. 90.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PLMR has been the subject of several research reports. Piper Sandler upped their target price on Palomar from $132.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Evercore set a $152.00 price objective on shares of Palomar in a report on Friday, July 10th. Keefe, Bruyette & Woods upped their price objective on shares of Palomar from $162.00 to $166.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Zacks Research lowered shares of Palomar from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Palomar from $150.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Palomar presently has an average rating of “Moderate Buy” and an average price target of $162.50.

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.