Palomar (NASDAQ:PLMR) President Jon Christianson Sells 1,691 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 1,691 shares of Palomar stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $139.50, for a total value of $235,894.50. Following the sale, the president directly owned 59,631 shares of the company’s stock, valued at approximately $8,318,524.50. This represents a 2.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, November 18th, Jon Christianson sold 522 shares of Palomar stock. The shares were sold at an average price of $128.84, for a total value of $67,254.48.

Palomar Stock Up 0.4%

Palomar stock opened at $135.38 on Tuesday. The stock has a 50-day moving average price of $123.64 and a 200 day moving average price of $127.23. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 21.12 and a beta of 0.49. Palomar Holdings, Inc. has a 52 week low of $98.42 and a 52 week high of $175.85.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Friday, December 16th. The company reported $0.07 earnings per share (EPS) for the quarter. Palomar had a net margin of 22.59% and a return on equity of 21.93%. The company had revenue of $65.74 million during the quarter. Research analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PLMR shares. Wall Street Zen lowered Palomar from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. JPMorgan Chase & Co. raised their target price on Palomar from $137.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Evercore ISI decreased their price target on Palomar from $168.00 to $134.00 and set an “in-line” rating for the company in a report on Wednesday, October 1st. Keefe, Bruyette & Woods upped their price objective on Palomar from $164.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Palomar in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $157.67.

Institutional Trading of Palomar

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. lifted its position in shares of Palomar by 234.1% during the 2nd quarter. Invesco Ltd. now owns 798,361 shares of the company’s stock valued at $123,147,000 after buying an additional 559,383 shares in the last quarter. Alliancebernstein L.P. raised its position in Palomar by 290.2% during the second quarter. Alliancebernstein L.P. now owns 497,080 shares of the company’s stock worth $76,675,000 after acquiring an additional 369,697 shares during the period. Westfield Capital Management Co. LP lifted its holdings in Palomar by 81.0% during the third quarter. Westfield Capital Management Co. LP now owns 738,528 shares of the company’s stock valued at $86,223,000 after purchasing an additional 330,592 shares in the last quarter. AustralianSuper Pty Ltd purchased a new position in Palomar during the second quarter valued at $37,253,000. Finally, Orion Porfolio Solutions LLC grew its position in shares of Palomar by 2,753.2% in the second quarter. Orion Porfolio Solutions LLC now owns 180,491 shares of the company’s stock valued at $27,841,000 after purchasing an additional 174,165 shares during the period. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

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.