Palomar (NASDAQ:PLMR) President Jon Christianson Sells 522 Shares

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

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 transaction 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 transaction 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 transaction 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 value 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 value 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 value of $235,894.50.

Palomar Trading Down 2.3%

NASDAQ PLMR traded down $2.81 on Friday, reaching $120.61. 332,759 shares of the company were exchanged, compared to its average volume of 275,399. The business’s fifty day moving average price is $129.40 and its 200 day moving average price is $123.10. The stock has a market capitalization of $3.20 billion, a P/E ratio of 16.80 and a beta of 0.44. Palomar Holdings, Inc. has a fifty-two week low of $107.75 and a fifty-two week high of $175.85.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on PLMR. Evercore assumed coverage on shares of Palomar in a research report on Monday, February 9th. They set an “outperform” rating and a $150.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on Palomar from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods raised their price target on Palomar from $170.00 to $171.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Wall Street Zen downgraded shares of Palomar from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Weiss Ratings raised Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 14th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $162.17.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings 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 valued at $363,620,000 after purchasing an additional 67,038 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Palomar by 2.1% in the second quarter. American Century Companies Inc. now owns 846,312 shares of the company’s stock worth $130,544,000 after acquiring an additional 17,188 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Palomar by 13.8% in the fourth quarter. Westfield Capital Management Co. LP now owns 840,226 shares of the company’s stock valued at $113,229,000 after acquiring an additional 101,698 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Palomar by 234.1% during the second quarter. Invesco Ltd. now owns 798,361 shares of the company’s stock valued at $123,147,000 after acquiring an additional 559,383 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Palomar by 250.1% during the fourth quarter. Janus Henderson Group PLC now owns 795,625 shares of the company’s stock valued at $107,237,000 after acquiring an additional 568,360 shares during the last quarter. Institutional investors and hedge funds 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.