Key Points
- Insider sale: Palomar President Jon Christianson sold 1,937 shares on April 15 at an average price of $128.62 under a pre-arranged Rule 10b5-1 plan, reducing his stake by 2.85% to 65,919 shares valued at about $8.48M after a series of sales earlier this year.
- Earnings beat and stock context: Palomar reported strong quarterly results (EPS $2.24 vs. $2.06 est., revenue $253.36M, +62.7% YoY) and the stock trades near $131 with a P/E of 18.3 and ~50/200-day moving averages around $124.
- Analyst view: Ratings are mixed but tilt positive with a consensus "Moderate Buy" and an average price target of $161.75 despite some recent downgrades to Hold.
Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) President Jon Christianson sold 1,937 shares of Palomar stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $128.62, for a total value of $249,136.94. Following the completion of the transaction, the president owned 65,919 shares in the company, valued at $8,478,501.78. This trade represents a 2.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 Tuesday, April 7th, Jon Christianson sold 3,000 shares of Palomar stock. The shares were sold at an average price of $125.00, for a total transaction of $375,000.00.
- On Wednesday, February 18th, Jon Christianson sold 522 shares of Palomar stock. The shares were 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 shares were sold at an average price of $121.75, for a total value 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 value of $62,701.25.
- On Thursday, January 29th, Jon Christianson sold 1,158 shares of Palomar stock. The shares were 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 shares were 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 value of $238,681.08.
Palomar Stock Up 1.1%
Palomar stock opened at $131.41 on Friday. Palomar Holdings, Inc. has a 52 week low of $107.75 and a 52 week high of $175.85. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 18.30 and a beta of 0.54. The stock has a 50-day moving average price of $123.98 and a 200 day moving average price of $123.80.
Palomar (NASDAQ:PLMR - Get Free Report) last released its quarterly earnings data on Wednesday, February 11th. The company reported $2.24 earnings per share for the quarter, topping analysts' consensus estimates of $2.06 by $0.18. The firm had revenue of $253.36 million for the quarter, compared to analyst estimates of $204.58 million. Palomar had a net margin of 22.50% and a return on equity of 22.77%. The business's quarterly revenue was up 62.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.52 earnings per share. Research analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on PLMR shares. Wall Street Zen lowered shares of Palomar from a "buy" rating to a "hold" rating in a research note on Sunday, March 1st. Weiss Ratings downgraded Palomar from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, April 7th. Keefe, Bruyette & Woods upped their price objective on shares of Palomar from $183.00 to $186.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 7th. JPMorgan Chase & Co. upped their price target on shares of Palomar from $155.00 to $160.00 and gave the stock an "overweight" rating in a research report on Monday, February 23rd. Finally, Evercore began coverage on shares of Palomar in a research report on Monday, February 9th. They set an "outperform" rating and a $150.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $161.75.
Read Our Latest Research Report on PLMR
Institutional Trading of Palomar
Several institutional investors and hedge funds have recently bought and sold shares of PLMR. Salomon & Ludwin LLC purchased a new position in Palomar during the third quarter worth about $25,000. Richardson Financial Services Inc. raised its stake in shares of Palomar by 210.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 217 shares of the company's stock valued at $25,000 after acquiring an additional 147 shares during the period. 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. boosted its position in shares of 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 purchasing an additional 132 shares during the period. 90.25% of the stock is currently owned by hedge funds and other institutional investors.
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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