Key Points
- Palomar President Jon Christianson sold 6,863 shares on July 2 at an average price of $139.50, totaling about $957,389. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- The transaction reduced Christianson’s holdings by 9.36%, leaving him with 66,478 shares valued at roughly $9.27 million. He also sold shares in April in two separate transactions.
- Palomar’s stock was up 1.5% and recently traded near its 12-month high, while the company reported strong quarterly earnings with EPS beating estimates. Analysts still hold a Moderate Buy consensus rating with a target price of $147.75.
Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) President Jon Christianson sold 6,863 shares of Palomar stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $139.50, for a total value of $957,388.50. Following the transaction, the president owned 66,478 shares of the company's stock, valued at $9,273,681. This trade represents a 9.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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, April 15th, Jon Christianson sold 1,937 shares of Palomar stock. The stock was sold at an average price of $128.62, for a total value of $249,136.94.
- 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 value of $375,000.00.
Palomar Stock Up 1.5%
Shares of NASDAQ:PLMR opened at $142.13 on Tuesday. The business's 50 day moving average is $115.91 and its 200 day moving average is $122.94. Palomar Holdings, Inc. has a 12-month low of $100.81 and a 12-month high of $148.53. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 19.80 and a beta of 0.41. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.31.
Palomar (NASDAQ:PLMR - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.17 by $0.14. The business had revenue of $278.94 million during the quarter, compared to analyst estimates of $557.79 million. Palomar had a return on equity of 22.62% and a net margin of 20.11%.Palomar's quarterly revenue was up 59.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.87 EPS. On average, sell-side analysts forecast that Palomar Holdings, Inc. will post 8.93 earnings per share for the current fiscal year.
Analyst Ratings Changes
PLMR has been the subject of several analyst reports. Piper Sandler decreased their price objective on shares of Palomar from $151.00 to $132.00 and set an "overweight" rating for the company in a research note on Monday, May 11th. JPMorgan Chase & Co. decreased their price target on Palomar from $160.00 to $150.00 and set an "overweight" rating for the company in a research report on Tuesday, May 26th. Keefe, Bruyette & Woods dropped their price target on Palomar from $186.00 to $159.00 and set an "outperform" rating on the stock in a report on Wednesday, May 13th. Weiss Ratings raised Palomar from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, June 18th. Finally, Zacks Research lowered Palomar from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 15th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.75.
Get Our Latest Report on PLMR
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Palomar by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 2,698,278 shares of the company's stock worth $363,620,000 after purchasing an additional 67,038 shares during the period. Janus Henderson Group PLC raised its stake in shares of Palomar by 17.4% in the first quarter. Janus Henderson Group PLC now owns 933,993 shares of the company's stock valued at $111,664,000 after buying an additional 138,368 shares during the period. Westfield Capital Management Co. LP lifted its position in shares of Palomar by 13.8% during the 4th quarter. Westfield Capital Management Co. LP now owns 840,226 shares of the company's stock valued at $113,229,000 after buying an additional 101,698 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Palomar by 72.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 785,165 shares of the company's stock valued at $105,809,000 after buying an additional 328,993 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its stake in shares of Palomar by 3.0% during the 1st quarter. Stephens Investment Management Group LLC now owns 714,914 shares of the company's stock worth $85,432,000 after acquiring an additional 20,597 shares during the period. 90.25% of the stock is owned by institutional investors.
Palomar Company Profile
(
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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