Palomar Holdings President Jon Christianson Sells Stock Worth $86,699.34

On January 1st, Jon Christianson, the President of Palomar Holdings, Inc. (NASDAQ:PLMR), sold 819 shares of the company's stock in a transaction valued at $86,699.34. The shares were sold at an average price of $105.86 each. After this sale, Christianson now directly holds 55,126 shares in Palomar, which are worth approximately $5,835,638.36. This transaction marks a decrease of 1.46% in Christianson's overall holdings in the company. The details of the sale have been filed with the SEC and can be found in the official documents.

Recent Transactions by Jon Christianson

In addition to this sale, Jon Christianson has been actively trading shares of Palomar. On November 11th, he sold 2,195 shares at an average price of $104.10, resulting in a total value of $228,499.50. Earlier, on October 15th, he sold 2,000 shares at an average price of $98.45, amounting to $196,900.00.

Current Stock Performance

On Friday, the stock of Palomar traded up by 0.4%, reaching $104.81 during midday trading sessions. Approximately 74,754 shares changed hands, surpassing the average trading volume of 92,577 shares. The 50-day simple moving average for the stock is $103.86, while the 200-day simple moving average is $95.96. Currently, Palomar Holdings has a market capitalization of $2.77 billion, a price-to-earnings ratio of 24.90, and a beta of 0.36. Over the past twelve months, the stock hit a low of $54.81 and a high of $112.90.

Earnings Report

Palomar Holdings, Inc. released its quarterly earnings results on November 4th, reporting an earnings per share (EPS) of $1.23 for the quarter. This figure exceeded the analysts' consensus estimate of $1.03 by $0.20. The company reported total revenue of $148.50 million for the quarter, compared to the analyst projections of $134.72 million. The net margin for the company stands at 21.55%, with a return on equity of 19.65%. In the same period last year, Palomar recorded an EPS of $0.80. Analysts predict that the company will reach an EPS of 4.33 for the current year.

Analyst Ratings

Recent analyst ratings reflect varying perspectives on Palomar Holdings. Keefe, Bruyette & Woods has raised their price target for the company's stock from $120.00 to $136.00 while maintaining an "outperform" rating. Jefferies Financial Group increased their price target from $110.00 to $113.00, giving the stock a "buy" rating. Similarly, Piper Sandler increased the target price from $105.00 to $110.00, rating the stock as "overweight." Meanwhile, JPMorgan Chase & Co. has modified their target from $93.00 to $100.00, labeling it as a "neutral" rating. Currently, three analysts suggest holding the stock while four recommend buying it, leading to an average rating of "Moderate Buy" with an average target price of $111.67, according to MarketBeat.

Institutional Investor Activities

Institutional investors have also been adjusting their positions in Palomar. For instance, Whittier Trust Co. of Nevada Inc. acquired a new stake in the company in the third quarter, valued at around $25,000. GAMMA Investing LLC increased its shares in Palomar by 48.6%, now owning 382 shares after adding 125 shares. Farther Finance Advisors LLC significantly raised their position by nearly 490.9% in the same quarter, now holding 455 shares. Other investors, including International Assets Investment Management and Covestor Ltd, have also increased their stakes. Currently, 90.25% of the stock is owned by institutional investors and hedge funds.

About Palomar Holdings, Inc.

Palomar Holdings, Inc. is a specialty insurance company that offers property and casualty insurance solutions to residential and commercial clients across the United States. Their portfolio includes a range of specialty property insurance products, such as residential and commercial coverage for earthquakes, fronting, commercial all-risk, specialty homeowners' insurance, inland marine insurance, coverage for hurricanes in Hawaii, and residential flood insurance, among other offerings.

Palomar, Stock, Transaction