Insider Selling: Palomar (NASDAQ:PLMR) President Sells 3,000 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 3,000 shares of Palomar stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $125.00, for a total transaction of $375,000.00. Following the transaction, the president directly owned 62,919 shares in the company, valued at $7,864,875. The trade was a 4.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, February 18th, Jon Christianson sold 522 shares of Palomar stock. The stock was sold at an average price of $128.04, for a total transaction of $66,836.88.
• 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 stock was 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 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.

Palomar Price Performance

PLMR traded up $2.98 during trading on Wednesday, reaching $128.08. The company had a trading volume of 228,406 shares, compared to its average volume of 253,367. Palomar Holdings, Inc. has a 12 month low of $107.75 and a 12 month high of $175.85. The business’s fifty day moving average price is $123.06 and its 200 day moving average price is $123.21. The company has a market cap of $3.42 billion, a P/E ratio of 17.84 and a beta of 0.54.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $2.24 earnings per share for the quarter, beating 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 firm had revenue of $253.36 million for the quarter, compared to analyst estimates of $204.58 million. During the same quarter in the previous year, the firm posted $1.52 earnings per share. The business’s revenue was up 62.7% on a year-over-year basis. As a group, sell-side analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Institutional Trading of Palomar

Hedge funds and other institutional investors have recently made changes to their positions in the business. Salomon & Ludwin LLC acquired a new stake in shares of Palomar in the third quarter valued at approximately $25,000. Richardson Financial Services Inc. raised its holdings in shares of Palomar by 210.0% in the third quarter. Richardson Financial Services Inc. now owns 217 shares of the company’s stock valued at $25,000 after purchasing an additional 147 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Palomar in the fourth quarter valued at approximately $32,000. Kestra Advisory Services LLC acquired a new stake in shares of Palomar in the fourth quarter valued at approximately $33,000. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Palomar by 81.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 294 shares of the company’s stock valued at $40,000 after purchasing an additional 132 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Evercore assumed coverage on shares of Palomar in a research note on Monday, February 9th. They issued an “outperform” rating and a $150.00 price target on the stock. Weiss Ratings raised shares of Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, January 14th. JPMorgan Chase & Co. lifted their price target on shares of Palomar from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Keefe, Bruyette & Woods lifted their price target on shares of Palomar from $183.00 to $186.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Wall Street Zen lowered shares of Palomar from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Palomar presently has an average rating of “Buy” and a consensus target price of $165.50.

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.