Key Points
- CEO Mac Armstrong sold 2,310 shares on Jan. 15 at an average price of $130 (proceeds $300,300), reducing his stake to 80,314 shares (a 2.8% decrease); he also sold 5,000 shares in November at $122.86.
- Palomar reported a strong quarterly beat on Nov. 6 with $2.01 EPS vs. $1.56 expected and revenue of $244.7M vs. $208.0M, and the company carries a market cap of about $3.46B and a P/E of 20.38.
- Analysts are broadly positive—six Buys and two Holds—with an average price target of $159.50 and recent target moves ranging from Evercore’s $134 to Keefe/Weber’s ~$171.
Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) CEO Mac Armstrong sold 2,310 shares of the firm's stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $130.00, for a total value of $300,300.00. Following the sale, the chief executive officer owned 80,314 shares in the company, valued at approximately $10,440,820. The trade was a 2.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Mac Armstrong also recently made the following trade(s):
- On Friday, November 21st, Mac Armstrong sold 5,000 shares of Palomar stock. The stock was sold at an average price of $122.86, for a total value of $614,300.00.
Palomar Stock Up 1.7%
Shares of NASDAQ:PLMR opened at $130.63 on Wednesday. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 20.38 and a beta of 0.42. The company has a 50 day moving average of $128.10 and a two-hundred day moving average of $124.63. Palomar Holdings, Inc. has a 52-week low of $101.64 and a 52-week high of $175.85.
Palomar (NASDAQ:PLMR - Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported $2.01 EPS for the quarter, topping analysts' consensus estimates of $1.56 by $0.45. The business had revenue of $244.66 million for the quarter, compared to analysts' expectations of $207.98 million. Palomar had a net margin of 22.59% and a return on equity of 21.93%. During the same period in the previous year, the company posted $1.23 earnings per share. On average, equities analysts anticipate that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.
Analysts Set New Price Targets
Several analysts have recently weighed in on PLMR shares. Evercore ISI lowered their target price on Palomar from $168.00 to $134.00 and set an "in-line" rating for the company in a research note on Wednesday, October 1st. JPMorgan Chase & Co. increased their price target on Palomar from $145.00 to $155.00 and gave the company an "overweight" rating in a report on Wednesday, January 7th. Wall Street Zen raised Palomar from a "hold" rating to a "buy" rating in a report on Saturday, January 10th. Keefe, Bruyette & Woods lifted their price objective on Palomar from $170.00 to $171.00 and gave the stock an "outperform" rating in a report on Tuesday, January 6th. Finally, Weiss Ratings raised shares of Palomar from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, January 14th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $159.50.
Read Our Latest Report on Palomar
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Salomon & Ludwin LLC bought a new stake in shares of Palomar in the 3rd quarter valued at approximately $25,000. Richardson Financial Services Inc. boosted its holdings in Palomar by 210.0% in the third quarter. Richardson Financial Services Inc. now owns 217 shares of the company's stock worth $25,000 after purchasing an additional 147 shares during the period. Allworth Financial LP boosted its holdings in Palomar by 1,970.0% in the second quarter. Allworth Financial LP now owns 207 shares of the company's stock worth $32,000 after purchasing an additional 197 shares during the period. Maseco LLP bought a new stake in Palomar during the second quarter valued at $45,000. Finally, Clearstead Advisors LLC raised its holdings in shares of Palomar by 31.0% during the third quarter. Clearstead Advisors LLC now owns 397 shares of the company's stock worth $46,000 after purchasing an additional 94 shares during the period. Institutional investors own 90.25% of the company's stock.
About Palomar
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
