Jon Christianson Sells 6,863 Shares of Palomar (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 6,863 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $139.50, for a total transaction of $957,388.50. Following the sale, the president directly owned 66,478 shares in the company, valued at approximately $9,273,681. This trade represents a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Wednesday, April 15th, Jon Christianson sold 1,937 shares of Palomar stock. The shares were sold at an average price of $128.62, for a total transaction of $249,136.94.
• 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 transaction of $375,000.00.

Palomar Price Performance

Palomar stock opened at $145.29 on Wednesday. The firm has a market capitalization of $3.85 billion, a P/E ratio of 20.24 and a beta of 0.41. Palomar Holdings, Inc. has a one year low of $100.81 and a one year high of $147.44. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.49 and a quick ratio of 0.49. The business has a fifty day moving average price of $116.29 and a 200-day moving average price of $123.05.

Palomar (NASDAQ:PLMR) last issued 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 business had revenue of $278.94 million for 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 firm’s quarterly revenue was up 59.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.87 EPS. As a group, equities research analysts forecast that Palomar Holdings, Inc. will post 8.93 EPS for the current year.

Institutional Trading of Palomar

A number of hedge funds have recently made changes to their positions in PLMR. Vanguard Group Inc. increased its stake in Palomar by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 2,698,278 shares of the company’s stock valued at $363,620,000 after acquiring an additional 67,038 shares during the last quarter. Janus Henderson Group PLC raised its position in Palomar by 17.4% during the first quarter. Janus Henderson Group PLC now owns 933,993 shares of the company’s stock valued at $111,664,000 after purchasing an additional 138,368 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in Palomar by 13.8% during the fourth quarter. Westfield Capital Management Co. LP now owns 840,226 shares of the company’s stock worth $113,229,000 after purchasing an additional 101,698 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Palomar by 72.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 785,165 shares of the company’s stock worth $105,809,000 after purchasing an additional 328,993 shares during the last quarter. Finally, Stephens Investment Management Group LLC boosted its holdings in shares of Palomar by 3.0% in the 1st quarter. Stephens Investment Management Group LLC now owns 714,914 shares of the company’s stock worth $85,432,000 after purchasing an additional 20,597 shares in the last quarter. 90.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Palomar from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 18th. Piper Sandler reduced their target price on Palomar from $151.00 to $132.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. JPMorgan Chase & Co. decreased their target price on Palomar from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 26th. Zacks Research cut Palomar from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Finally, Keefe, Bruyette & Woods dropped their price target on Palomar from $186.00 to $159.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $147.75.

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.