Key Points
- CEO Mac Armstrong sold 5,000 shares of Palomar (PLMR) on Jan. 21 at an average price of $129, totaling $645,000, reducing his stake by about 1.41% to 348,388 shares valued near $44.94 million.
- This sale continues recent insider trimming — Armstrong also sold 2,310 shares on Jan. 15 at $130 and 5,000 shares on Nov. 21 at $122.86 — indicating ongoing disposals rather than purchases.
- Palomar recently reported a strong quarter (EPS $2.01 vs. $1.56 consensus and revenue of $244.7M), and Wall Street sentiment is a consensus "Moderate Buy" with an average price target of $159.50 and a market cap of about $3.39 billion.
Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) CEO Mac Armstrong sold 5,000 shares of the stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $129.00, for a total transaction of $645,000.00. Following the transaction, the chief executive officer directly owned 348,388 shares in the company, valued at $44,942,052. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Mac Armstrong also recently made the following trade(s):
- On Thursday, January 15th, Mac Armstrong sold 2,310 shares of Palomar stock. The shares were sold at an average price of $130.00, for a total value of $300,300.00.
- 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 Performance
Shares of NASDAQ:PLMR opened at $127.83 on Friday. Palomar Holdings, Inc. has a 52-week low of $101.64 and a 52-week high of $175.85. The business's 50 day simple moving average is $128.01 and its two-hundred day simple moving average is $124.69. The firm has a market cap of $3.39 billion, a P/E ratio of 19.94 and a beta of 0.42.
Palomar (NASDAQ:PLMR - Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.56 by $0.45. Palomar had a return on equity of 21.93% and a net margin of 22.59%.The firm had revenue of $244.66 million during the quarter, compared to the consensus estimate of $207.98 million. During the same quarter in the previous year, the company posted $1.23 earnings per share. On average, equities analysts forecast that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms have weighed in on PLMR. Wall Street Zen raised shares of Palomar from a "hold" rating to a "buy" rating in a research note on Saturday, January 10th. Keefe, Bruyette & Woods upped their target price on shares of Palomar from $170.00 to $171.00 and gave the stock an "outperform" rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. lifted their price target on Palomar from $145.00 to $155.00 and gave the company an "overweight" rating in a research note on Wednesday, January 7th. Weiss Ratings raised Palomar from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, January 14th. Finally, Evercore ISI dropped their target price on Palomar from $168.00 to $134.00 and set an "in-line" rating on the stock in a report on Wednesday, October 1st. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Palomar currently has a consensus rating of "Moderate Buy" and an average price target of $159.50.
Get Our Latest Research Report on Palomar
Institutional Investors Weigh In On Palomar
Institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its stake in Palomar by 3.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,546 shares of the company's stock valued at $333,000 after buying an additional 82 shares during the last quarter. Clearstead Advisors LLC boosted its stake in shares of Palomar by 31.0% in the 3rd quarter. Clearstead Advisors LLC now owns 397 shares of the company's stock worth $46,000 after buying an additional 94 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Palomar by 0.4% in the second quarter. California State Teachers Retirement System now owns 24,207 shares of the company's stock valued at $3,734,000 after acquiring an additional 97 shares in the last quarter. Bank of Montreal Can increased its position in shares of Palomar by 1.7% during the second quarter. Bank of Montreal Can now owns 5,766 shares of the company's stock valued at $889,000 after acquiring an additional 98 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Palomar by 14.4% during the second quarter. GAMMA Investing LLC now owns 833 shares of the company's stock worth $128,000 after acquiring an additional 105 shares during the period. 90.25% of the stock is owned by institutional investors.
Palomar Company Profile
(
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.
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