Palomar (NASDAQ:PLMR) President Sells $418,500.00 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 3,000 shares of the stock in a transaction on Monday, July 20th. The shares were sold at an average price of $139.50, for a total value of $418,500.00. Following the transaction, the president directly owned 66,478 shares in the company, valued at $9,273,681. The trade was a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Thursday, July 2nd, Jon Christianson sold 6,863 shares of Palomar stock. The stock was sold at an average price of $139.50, for a total value of $957,388.50.

Palomar Stock Performance

Shares of PLMR opened at $136.30 on Friday. The firm has a market capitalization of $3.61 billion, a P/E ratio of 18.98 and a beta of 0.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.49 and a quick ratio of 0.49. Palomar Holdings, Inc. has a one year low of $100.81 and a one year high of $147.62. The business has a fifty day moving average of $123.91 and a 200 day moving average of $123.45.

Palomar (NASDAQ:PLMR) last posted its earnings results on Wednesday, May 6th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.14. The company had revenue of $278.94 million for the quarter, compared to the consensus estimate of $557.79 million. Palomar had a return on equity of 22.62% and a net margin of 20.11%.Palomar’s revenue was up 59.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.87 earnings per share. As a group, sell-side analysts anticipate that Palomar Holdings, Inc. will post 8.9 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PLMR shares. Evercore set a $152.00 price objective on shares of Palomar in a report on Friday, July 10th. Zacks Research cut shares of Palomar from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Weiss Ratings upgraded shares of Palomar from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 18th. Keefe, Bruyette & Woods lifted their price target on shares of Palomar from $162.00 to $166.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Palomar from $150.00 to $167.00 and gave the company 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 given a Hold rating to the stock. According to data from MarketBeat.com, Palomar currently has an average rating of “Moderate Buy” and a consensus price target of $162.50.

Institutional Investors Weigh In On Palomar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position 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 purchasing an additional 67,038 shares during the period. Janus Henderson Group PLC raised its position in shares of Palomar by 17.4% during the 1st 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 during the period. Westfield Capital Management Co. LP raised its position in shares of Palomar by 13.8% during the 4th quarter. Westfield Capital Management Co. LP now owns 840,226 shares of the company’s stock valued at $113,229,000 after purchasing an additional 101,698 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Palomar by 72.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 785,165 shares of the company’s stock valued at $105,809,000 after buying an additional 328,993 shares in the last quarter. Finally, Stephens Investment Management Group LLC lifted its stake in shares of Palomar by 3.0% during the 1st quarter. Stephens Investment Management Group LLC now owns 714,914 shares of the company’s stock valued at $85,432,000 after buying an additional 20,597 shares in the last quarter. 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.