JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
Jon Christianson, President of Palomar Holdings, Inc. (NASDAQ:PLMR), recently sold 356 shares of the company’s common stock. The transaction, which took place on January 31, 2025, was executed at an average price of $104.51 per share, amounting to a total sale value of $37,205. This sale was part of a mandatory sell-to-cover provision related to restricted stock units (RSUs) to cover tax obligations upon vesting. The stock has shown remarkable strength, delivering an 83% return over the past year. According to InvestingPro data, analyst price targets range from $100 to $136.
Additionally, Christianson acquired 996 shares through the exercise of RSUs, though this transaction did not involve any cash exchange as the shares were obtained at no cost. Following these transactions, Christianson holds 57,259 shares of Palomar Holdings directly. The company maintains a GREAT financial health score on InvestingPro, with robust revenue growth of 40% in the last twelve months.
Palomar Holdings is headquartered in La Jolla, California, and operates in the fire, marine, and casualty insurance sector. With a market capitalization of $2.8 billion and a P/E ratio of 24.6, the company is among the 1,400+ US equities covered by comprehensive Pro Research Reports on InvestingPro.
In other recent news, Palomar Holdings has been a focus of investor attention with several developments. Analyst Paul Newsome from Piper Sandler recently increased the price target on Palomar’s shares to $133 from $119, maintaining an Overweight rating. This adjustment is based on a positive outlook for primary insurers in 2025, influenced by recent reinsurance renewal data. Palomar’s CEO, Mac Armstrong, has secured a new employment agreement extending his tenure through January 1, 2029, with a substantial compensation package.
In addition, Piper Sandler revised Palomar’s stock price target based on a 17x earnings multiple, raising it to $119 from $110. Following a constructive meeting with Palomar’s CFO, Chris Uchida, financial services firm Keefe, Bruyette & Woods increased its price target for Palomar to $136, reaffirming an Outperform rating. The firm’s revised earnings estimates are based on the company’s potential for significant growth in gross written premiums.
Further, Palomar announced the appointment of Benson Latham as Executive Vice President, Head of Crop. Latham brings extensive experience in the Crop insurance industry and will lead Palomar’s Crop insurance operations. These recent developments highlight the ongoing strategic initiatives and potential growth opportunities for Palomar Holdings.
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