Palomar Holdings Inc Insider Sells Company Shares
Jon Christianson, President of Palomar Holdings Inc (NASDAQ:PLMR), executed a sale of 2,000 shares in the company on February 14, 2024, according to a recent SEC Filing. The transaction was carried out at a stock price of $60 per share, resulting in a total sale value of $120,000.
Palomar Holdings Inc is a specialty insurance company that focuses on providing insurance solutions for clients who operate in markets that may be underserved by traditional insurance providers. The company's product offerings include specialty property insurance, such as earthquake, wind, and flood insurance, as well as specialty casualty insurance. Palomar prides itself on its innovative approach to insurance and risk management solutions.
Over the past year, the insider has sold a total of 24,733 shares of Palomar Holdings Inc and has not made any purchases of the stock. This latest transaction continues the trend of insider sales for the company.
The insider transaction history for Palomar Holdings Inc shows a pattern of insider sales, with 36 insider sells recorded over the past year and no insider buys during the same period.
On the valuation front, Palomar Holdings Inc's shares were trading at $60 on the day of the insider's recent sale, giving the company a market capitalization of $1.836 billion. The price-earnings ratio stands at 26.17, which is above the industry median of 11.96 but below the company's historical median price-earnings ratio.
The stock's price relative to the GuruFocus Value (GF Value) indicates that Palomar Holdings Inc is currently modestly undervalued. With a price of $60 and a GF Value of $98.25, the price-to-GF-Value ratio is 0.61.
The GF Value is calculated considering historical trading multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on the company's past returns and growth, and future business performance estimates from Morningstar analysts.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
