In a recent transaction on April 17, Palomar Holdings, Inc. (NASDAQ:PLMR) President Jon Christianson sold a significant amount of company stock, totaling over $150,000. The sale was executed in multiple transactions with prices ranging from $75.77 to $76.64 for one portion and $76.83 to $76.99 for another, reflecting a weighted average price of $76.2326 and $76.9142, respectively.
The President's sale consisted of 1,810 shares at the weighted average price of $76.2326, and an additional 190 shares at a weighted average of $76.9142. The combined sales amounted to a total of $152,594. This move has adjusted Christianson's holdings in the company, leaving him with a total of 57,761 shares of Palomar Holdings common stock. Notably, this figure includes 2,021 shares acquired through the company's 2019 Employee Stock Purchase Plan (ESPP).
Palomar Holdings, based in La Jolla, California, specializes in fire, marine, and casualty insurance and operates under the legal framework of Delaware. The company's stock is publicly traded under the ticker symbol PLMR on the NASDAQ exchange.
Investors and followers of Palomar Holdings can request detailed information on the exact number of shares sold at each price point within the range disclosed by Christianson, as indicated in the footnotes of the SEC Form 4 filing. This transparency provides a clear view of the transaction's details, ensuring that stakeholders are well-informed about significant trades made by company insiders.
InvestingPro Insights
Following the recent insider trading activity at Palomar Holdings, Inc. (NASDAQ:PLMR), investors may be scrutinizing the company's financial health and market performance. An analysis of real-time data from InvestingPro offers a snapshot of the company's current valuation and profitability metrics.
Palomar Holdings is currently trading with a Price/Earnings (P/E) ratio of 24.31, which is considered low relative to the company's near-term earnings growth. This suggests that the stock may be undervalued based on its future earnings potential, an aspect that could be of interest to value investors. Moreover, the company's PEG ratio, which stands at 0.44 as of the last twelve months ending Q4 2023, points to a potentially favorable growth trajectory in relation to its earnings.
On the balance sheet side, Palomar's Price/Book (P/B) multiple is 4.11, indicating a higher valuation compared to the company's book value. This may reflect the market's optimism about the company's future prospects. In terms of performance, Palomar has demonstrated a strong return over the last three months, with a price total return of 24.64%, and an impressive six-month price total return of 46.34%.
InvestingPro Tips highlight that while Palomar Holdings' short-term obligations exceed its liquid assets, the company's cash flows are sufficient to cover interest payments, which is a positive sign for debt management and financial stability. Additionally, analysts predict that Palomar will be profitable this year, which is corroborated by the company's profitability over the last twelve months.
For investors seeking a more in-depth analysis, there are additional InvestingPro Tips available for Palomar Holdings. By accessing InvestingPro, users can find a total of 11 tips that provide further insights into the company's financial and market performance. To enhance your investing strategy with these exclusive insights, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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