Jon Christianson Sells 1,691 Shares of Palomar (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold 1,691 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $139.50, for a total transaction of $235,894.50. Following the completion of the sale, the president directly owned 59,631 shares of the company’s stock, valued at approximately $8,318,524.50. This trade represents a 2.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

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

Palomar Price Performance

PLMR traded up $0.60 during trading hours on Monday, reaching $135.38. The company’s stock had a trading volume of 131,162 shares, compared to its average volume of 287,524. The stock has a market cap of $3.59 billion, a PE ratio of 21.12 and a beta of 0.49. Palomar Holdings, Inc. has a fifty-two week low of $98.42 and a fifty-two week high of $175.85. The business’s 50-day moving average is $123.23 and its 200-day moving average is $127.41.

Palomar (NASDAQ:PLMR) last posted its earnings results on Friday, December 16th. The company reported $0.07 EPS for the quarter. The company had revenue of $65.74 million for the quarter. Palomar had a return on equity of 21.93% and a net margin of 22.59%. Analysts expect that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on PLMR. Evercore ISI dropped their price target on shares of Palomar from $168.00 to $134.00 and set an “in-line” rating for the company in a research report on Wednesday, October 1st. Wall Street Zen cut shares of Palomar from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Keefe, Bruyette & Woods lifted their target price on shares of Palomar from $164.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, November 11th. JPMorgan Chase & Co. upped their price target on Palomar from $137.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Palomar in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.67.

Institutional Investors Weigh In On Palomar

Hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its stake in shares of Palomar by 3.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,461 shares of the company’s stock worth $363,000 after acquiring an additional 90 shares in the last quarter. Clearstead Advisors LLC boosted its holdings in Palomar by 31.0% in the third quarter. Clearstead Advisors LLC now owns 397 shares of the company’s stock valued at $46,000 after purchasing an additional 94 shares during the period. California State Teachers Retirement System grew its stake in Palomar by 0.4% during the 2nd quarter. California State Teachers Retirement System now owns 24,207 shares of the company’s stock worth $3,734,000 after purchasing an additional 97 shares in the last quarter. Bank of Montreal Can grew its stake in Palomar by 1.7% during the 2nd quarter. Bank of Montreal Can now owns 5,766 shares of the company’s stock worth $889,000 after purchasing an additional 98 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Palomar by 14.4% during the 2nd quarter. GAMMA Investing LLC now owns 833 shares of the company’s stock worth $128,000 after purchasing an additional 105 shares during the period. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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.