Palomar (NASDAQ:PLMR) President Sells $238,681.08 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 1,991 shares of the company’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $119.88, for a total transaction of $238,681.08. Following the transaction, the president directly owned 62,985 shares of the company’s stock, valued at $7,550,641.80. This represents a 3.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

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

Palomar Trading Up 0.3%

PLMR stock traded up $0.38 during midday trading on Friday, hitting $123.59. The stock had a trading volume of 266,025 shares, compared to its average volume of 191,596. Palomar Holdings, Inc. has a 52 week low of $104.47 and a 52 week high of $175.85. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 19.28 and a beta of 0.42. The stock has a 50-day simple moving average of $127.64 and a 200 day simple moving average of $124.07.

Palomar (NASDAQ:PLMR) last issued its earnings results on Thursday, November 6th. The company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.45. The business had revenue of $244.66 million for the quarter, compared to analyst estimates of $207.98 million. Palomar had a net margin of 22.59% and a return on equity of 21.93%. During the same period in the previous year, the business earned $1.23 EPS. On average, equities analysts forecast that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PLMR. Invesco Ltd. grew its holdings in Palomar by 234.1% during the 2nd quarter. Invesco Ltd. now owns 798,361 shares of the company’s stock worth $123,147,000 after acquiring an additional 559,383 shares during the period. Alliancebernstein L.P. grew its stake in shares of 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 purchasing an additional 369,697 shares during the period. Westfield Capital Management Co. LP grew its stake in shares of Palomar by 81.0% during the third quarter. Westfield Capital Management Co. LP now owns 738,528 shares of the company’s stock worth $86,223,000 after purchasing an additional 330,592 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Palomar by 72.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 785,165 shares of the company’s stock valued at $105,809,000 after purchasing an additional 328,993 shares during the last quarter. Finally, AustralianSuper Pty Ltd acquired a new position in Palomar in the second quarter valued at about $37,253,000. Institutional investors own 90.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PLMR shares. Wall Street Zen upgraded shares of Palomar from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. JPMorgan Chase & Co. increased their price target on Palomar from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods lifted their price objective on Palomar from $170.00 to $171.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings upgraded Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 14th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $159.50.

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.