Palomar (NASDAQ:PLMR) President Jon Christianson Sells 528 Shares

Key Points

• Palomar President Jon Christianson sold 528 shares for approximately $67,452 at an average price of $127.75. The sale covered tax-withholding obligations tied to vested equity awards, reducing his direct holdings by 0.78% to 66,970 shares.
• Palomar reported quarterly EPS of $2.36, exceeding analyst expectations of $2.19, while generating $314.42 million in revenue. Analysts expect the company to post $9.14 in EPS for the current year.
• Shares recently traded at $128.87, while analysts maintained a “Moderate Buy” consensus with an average price target of $162.75. Palomar also declared a quarterly dividend of $0.45 per share, representing a 1.4% annualized yield.

Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) President Jon Christianson sold 528 shares of the company's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $127.75, for a total transaction of $67,452.00. Following the sale, the president directly owned 66,970 shares of the company's stock, valued at approximately $8,555,417.50. This represents a 0.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Jon Christianson also recently made the following trade(s):

• On Monday, July 20th, Jon Christianson sold 3,000 shares of Palomar stock. The shares were sold at an average price of $139.50, for a total transaction of $418,500.00.
• On Thursday, July 2nd, Jon Christianson sold 6,863 shares of Palomar stock. The shares were sold at an average price of $139.50, for a total transaction of $957,388.50.

Palomar Price Performance

PLMR traded up $1.99 during trading on Thursday, reaching $128.87. The company's stock had a trading volume of 180,148 shares, compared to its average volume of 269,775. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 17.32 and a beta of 0.40. The firm has a fifty day simple moving average of $130.18 and a two-hundred day simple moving average of $123.84. Palomar Holdings, Inc. has a 1 year low of $100.81 and a 1 year high of $147.62. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.30.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $2.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.19 by $0.17. Palomar had a return on equity of 23.28% and a net margin of 18.61%.The business had revenue of $314.42 million during the quarter, compared to analyst estimates of $621.52 million. During the same period in the prior year, the business earned $1.76 earnings per share. As a group, analysts anticipate that Palomar Holdings, Inc. will post 9.14 EPS for the current year.

Palomar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $1.80 dividend on an annualized basis and a yield of 1.4%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Weiss Ratings raised Palomar from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, June 18th. JPMorgan Chase & Co. boosted their price target on shares of Palomar from $150.00 to $167.00 and gave the company an "overweight" rating in a research report on Monday, July 20th. Evercore set a $152.00 price objective on shares of Palomar in a report on Friday, July 10th. Keefe, Bruyette & Woods raised their price objective on shares of Palomar from $166.00 to $167.00 and gave the stock an "outperform" rating in a research report on Monday, August 10th. Finally, Piper Sandler lifted their target price 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 equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Palomar currently has an average rating of "Moderate Buy" and a consensus target price of $162.75.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PLMR. BlackRock Inc. acquired a new stake in Palomar during the second quarter worth $556,348,000. Vanguard Group Inc. lifted its stake 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 valued at $363,620,000 after purchasing an additional 67,038 shares during the last quarter. Jupiter Topco LLC purchased a new position in shares of Palomar during the 2nd quarter worth $132,166,000. Janus Henderson Group PLC grew its holdings in shares of Palomar by 17.4% during the 1st quarter. Janus Henderson Group PLC now owns 933,993 shares of the company's stock worth $111,664,000 after purchasing an additional 138,368 shares during the period. Finally, Westfield Capital Management Co. LP grew its holdings 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 worth $113,229,000 after purchasing an additional 101,698 shares during the period. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

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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