Key Points
- Palomar President Jon Christianson sold 3,000 shares at an average price of $139.50, for proceeds of $418,500. The transaction was made under a pre-arranged Rule 10b5-1 plan, leaving him with 66,478 shares.
- Palomar reported quarterly earnings of $2.31 per share, exceeding the $2.17 consensus estimate, while revenue increased 59.7% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $162.50.
- Institutional investors own approximately 90.25% of Palomar’s shares, with several major funds increasing their positions during the fourth quarter.
Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) President Jon Christianson sold 3,000 shares of the stock in a transaction on Monday, July 20th. The stock was sold at an average price of $139.50, for a total value of $418,500.00. Following the transaction, the president directly owned 66,478 shares in the company, valued at approximately $9,273,681. This represents a 4.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Jon Christianson also recently made the following trade(s):
- On Thursday, July 2nd, Jon Christianson sold 6,863 shares of Palomar stock. The stock was sold at an average price of $139.50, for a total value of $957,388.50.
Palomar Price Performance
Shares of NASDAQ:PLMR opened at $143.16 on Wednesday. The company has a market cap of $3.79 billion, a P/E ratio of 19.94 and a beta of 0.41. The business has a fifty day simple moving average of $122.94 and a 200-day simple moving average of $123.31. Palomar Holdings, Inc. has a 52 week low of $100.81 and a 52 week high of $147.62. 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 earnings results on Wednesday, May 6th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.14. Palomar had a return on equity of 22.62% and a net margin of 20.11%.The firm had revenue of $278.94 million for the quarter, compared to the consensus estimate of $557.79 million. During the same period in the prior year, the business posted $1.87 earnings per share. The firm's revenue for the quarter was up 59.7% compared to the same quarter last year. Equities research analysts forecast that Palomar Holdings, Inc. will post 8.9 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC raised its position in Palomar by 652.7% in the fourth quarter. HighTower Advisors LLC now owns 17,613 shares of the company's stock valued at $2,374,000 after purchasing an additional 15,273 shares during the period. Moran Wealth Management LLC acquired a new position in shares of Palomar during the fourth quarter worth about $2,473,000. Stephens Investment Management Group LLC boosted its position in shares of Palomar by 19.8% in the fourth quarter. Stephens Investment Management Group LLC now owns 694,317 shares of the company's stock worth $93,566,000 after buying an additional 114,859 shares during the period. Vanguard Group Inc. boosted its position in shares of Palomar by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 2,698,278 shares of the company's stock worth $363,620,000 after buying an additional 67,038 shares during the period. Finally, Danske Bank A S grew its stake in shares of Palomar by 69.9% in the fourth quarter. Danske Bank A S now owns 138,295 shares of the company's stock valued at $18,637,000 after buying an additional 56,898 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently commented on PLMR shares. Evercore set a $152.00 price objective on shares of Palomar in a research note on Friday, July 10th. Zacks Research cut shares of Palomar from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 15th. Keefe, Bruyette & Woods boosted their target price on shares of Palomar from $162.00 to $166.00 and gave the company an "outperform" rating in a report on Wednesday, July 8th. Weiss Ratings raised shares of Palomar from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, June 18th. Finally, Piper Sandler increased their price target on shares of Palomar from $132.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $162.50.
Read Our Latest Report on Palomar
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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