Palomar (NASDAQ:PLMR) President Sells $66,836.88 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 522 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $128.04, for a total value of $66,836.88. Following the completion of the sale, the president owned 65,919 shares in the company, valued at $8,440,268.76. This trade represents a 0.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Saturday, January 31st, Jon Christianson sold 515 shares of Palomar stock. The stock was sold at an average price of $121.75, for a total value of $62,701.25.
• On Saturday, January 31st, Jon Christianson sold 515 shares of Palomar stock. The shares were sold at an average price of $121.75, for a total value of $62,701.25.
• On Thursday, January 29th, Jon Christianson sold 1,158 shares of Palomar stock. The stock was sold at an average price of $122.04, for a total value of $141,322.32.
• On Thursday, January 29th, Jon Christianson sold 1,158 shares of Palomar stock. The stock was sold at an average price of $122.04, for a total transaction of $141,322.32.
• On Wednesday, January 28th, Jon Christianson sold 1,991 shares of Palomar stock. The shares were sold at an average price of $119.88, for a total transaction of $238,681.08.
• On Tuesday, December 23rd, Jon Christianson sold 1,691 shares of Palomar stock. The stock was sold at an average price of $139.50, for a total transaction of $235,894.50.

Palomar Price Performance

Shares of NASDAQ:PLMR opened at $120.61 on Monday. The company’s fifty day moving average price is $129.40 and its 200-day moving average price is $123.22. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 16.80 and a beta of 0.44. Palomar Holdings, Inc. has a one year low of $107.75 and a one year high of $175.85.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.18. Palomar had a net margin of 22.50% and a return on equity of 22.77%. The company had revenue of $492.63 million during the quarter, compared to the consensus estimate of $204.58 million. During the same period in the previous year, the firm posted $1.52 EPS. The firm’s revenue was up 62.7% compared to the same quarter last year. As a group, equities research analysts expect that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Palomar from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Evercore started coverage on shares of Palomar in a research report on Monday, February 9th. They set an “outperform” rating and a $150.00 price target on the stock. Weiss Ratings upgraded shares of Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 14th. Wall Street Zen raised shares of Palomar from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Palomar from $170.00 to $171.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $162.17.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of Palomar by 14.0% in the 3rd quarter. Principal Financial Group Inc. now owns 182,255 shares of the company’s stock worth $21,278,000 after buying an additional 22,346 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of Palomar by 93.7% in the second quarter. Osaic Holdings Inc. now owns 19,370 shares of the company’s stock worth $2,933,000 after acquiring an additional 9,371 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Palomar in the third quarter worth $1,459,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Palomar by 11.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 456,172 shares of the company’s stock valued at $53,258,000 after acquiring an additional 45,665 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Palomar by 41.1% in the 3rd quarter. Bessemer Group Inc. now owns 153,683 shares of the company’s stock worth $17,943,000 after purchasing an additional 44,745 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

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.