Jon Christianson Sells 1,937 Shares of Palomar (NASDAQ:PLMR) Stock

Key Points

• Jon Christianson, Palomar's President, sold 1,937 shares on April 15 at an average price of $128.62 for roughly $249,137 under a pre-arranged Rule 10b5-1 plan, leaving him with 65,919 shares (a ~2.85% reduction).
• He has conducted multiple insider sales since January — including 3,000 shares on April 7 — reflecting a pattern of disposals totaling several thousand shares in recent months.
• Palomar beat quarterly estimates (EPS $2.24 vs $2.06; revenue +62.7% y/y), trades around $131.41$3.48B, and holds a consensus "Moderate Buy" rating with an average target of $161.75.

Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) President Jon Christianson sold 1,937 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $128.62, for a total transaction of $249,136.94. Following the completion of the transaction, the president owned 65,919 shares of the company's stock, valued at approximately $8,478,501.78. This represents a 2.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction 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 transaction 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 shares were sold at an average price of $119.88, for a total transaction of $238,681.08.

Palomar Stock Performance

Shares of PLMR stock traded up $1.38 during mid-day trading on Thursday, reaching $131.41. The company's stock had a trading volume of 176,943 shares, compared to its average volume of 252,133. Palomar Holdings, Inc. has a 1-year low of $107.75 and a 1-year high of $175.85. The company has a market cap of $3.48 billion, a P/E ratio of 18.30 and a beta of 0.54. The firm's 50-day moving average is $123.93 and its two-hundred day moving average is $123.75.

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 analysts' consensus estimates 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 posted $1.52 EPS. The business's revenue was up 62.7% on a year-over-year basis. Sell-side analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Institutional Investors Weigh In On Palomar

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Palomar by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 2,698,278 shares of the company's stock worth $363,620,000 after acquiring an additional 67,038 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in Palomar by 13.8% during the 4th quarter. Westfield Capital Management Co. LP now owns 840,226 shares of the company's stock worth $113,229,000 after acquiring an additional 101,698 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Palomar by 250.1% during the 4th quarter. Janus Henderson Group PLC now owns 795,625 shares of the company's stock worth $107,237,000 after acquiring an additional 568,360 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Palomar by 72.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 785,165 shares of the company's stock worth $105,809,000 after acquiring an additional 328,993 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its holdings in Palomar by 19.8% during the 4th quarter. Stephens Investment Management Group LLC now owns 694,317 shares of the company's stock worth $93,566,000 after acquiring an additional 114,859 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research 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 report on Sunday, March 1st. Weiss Ratings cut shares of Palomar from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, April 7th. JPMorgan Chase & Co. increased their target price 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. Evercore started coverage on shares of Palomar in a research report on Monday, February 9th. They set an "outperform" rating and a $150.00 target price for the company. Finally, Keefe, Bruyette & Woods increased their target price 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. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Palomar has a consensus rating of "Moderate Buy" and an average target price of $161.75.

About Palomar

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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