Key Points
- Palomar President Jon Christianson sold 3,000 shares on April 7 at an average price of $125.00 under a pre-arranged Rule 10b5-1 plan for a total of $375,000, reducing his stake by 4.55% to 62,919 shares, as disclosed in an SEC filing.
- Strong quarterly results: Palomar reported EPS of $2.24 (vs. $2.06 est.) and revenue of $253.36M (up 62.7% YoY), and analysts maintain a consensus "Moderate Buy" with a $165.50 price target amid several overweight/outperform ratings.
- Market and ownership snapshot: Shares traded around $128.35 (up ~2.6% intraday), with a market cap of about $3.43B and a PE of ~17.9, while institutional investors own roughly 90.25% of the stock.
Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) President Jon Christianson sold 3,000 shares of the business's stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $125.00, for a total transaction of $375,000.00. Following the sale, the president directly owned 62,919 shares of the company's stock, valued at $7,864,875. This represents a 4.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $119.88, for a total transaction of $238,681.08.
Palomar Trading Up 2.6%
Shares of NASDAQ PLMR opened at $128.35 on Thursday. Palomar Holdings, Inc. has a 12-month low of $107.75 and a 12-month high of $175.85. The stock has a market cap of $3.43 billion, a PE ratio of 17.88 and a beta of 0.54. The company has a 50-day moving average of $123.23 and a 200 day moving average of $123.25.
Palomar (NASDAQ:PLMR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.18. Palomar had a net margin of 22.50% and a return on equity of 22.77%. The company had revenue of $253.36 million during the quarter, compared to analysts' expectations of $204.58 million. During the same quarter in the prior year, the company earned $1.52 EPS. Palomar's revenue was up 62.7% compared to the same quarter last year. On average, sell-side analysts forecast that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on PLMR shares. Wall Street Zen cut shares of Palomar from a "buy" rating to a "hold" rating in a research note on Sunday, March 1st. Weiss Ratings lowered shares of Palomar from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of Palomar from $155.00 to $160.00 and gave the company an "overweight" rating in a report on Monday, February 23rd. Keefe, Bruyette & Woods boosted their target price on shares of Palomar from $183.00 to $186.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Evercore assumed coverage on shares of Palomar in a report on Monday, February 9th. They issued an "outperform" rating and a $150.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Palomar currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.50.
Check Out Our Latest Analysis on PLMR
Hedge Funds Weigh In On Palomar
Large investors have recently made changes to their positions in the stock. Salomon & Ludwin LLC acquired a new position in shares of Palomar in the 3rd quarter worth approximately $25,000. Richardson Financial Services Inc. lifted its holdings in shares of Palomar by 210.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 217 shares of the company's stock worth $25,000 after acquiring an additional 147 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Palomar in the 4th quarter worth approximately $32,000. Kestra Advisory Services LLC acquired a new position in shares of Palomar in the 4th quarter worth approximately $33,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in Palomar by 81.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 294 shares of the company's stock worth $40,000 after buying an additional 132 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.
About Palomar
(
Get Free Report)
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.
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