Key Points
- Angela Grant sold 1,447 shares of Palomar (NASDAQ:PLMR) on Jan. 28 at an average price of $119.88 for proceeds of $173,466.36, reducing her stake by 21.63% to 5,242 shares (≈$628,410.96).
- Several senior insiders — including the CEO, President and CFO — also sold sizable blocks at $119.88 on the same day, indicating concentrated insider selling.
- Despite the insider sales, Palomar reported a quarterly earnings beat (EPS $2.01 vs. $1.56 estimate) and analysts have largely upgraded the stock, leaving a "Moderate Buy" consensus with an average price target of $159.50.
Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) insider Angela Grant sold 1,447 shares of the company's stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $119.88, for a total transaction of $173,466.36. Following the completion of the sale, the insider directly owned 5,242 shares in the company, valued at approximately $628,410.96. The trade was a 21.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Palomar Stock Performance
NASDAQ PLMR opened at $123.59 on Friday. The firm has a market capitalization of $3.28 billion, a P/E ratio of 19.28 and a beta of 0.42. The stock has a 50-day simple moving average of $127.65 and a two-hundred day simple moving average of $123.95. Palomar Holdings, Inc. has a fifty-two week low of $104.47 and a fifty-two 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 the consensus estimate of $1.56 by $0.45. The firm had revenue of $244.66 million for the quarter, compared to analyst estimates of $207.98 million. Palomar had a return on equity of 21.93% and a net margin of 22.59%.During the same period last year, the company earned $1.23 earnings per share. As a group, analysts forecast that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.
Hedge Funds Weigh In On Palomar
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Palomar by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 2,698,278 shares of the company's stock valued at $363,620,000 after purchasing an additional 67,038 shares during the period. American Century Companies Inc. lifted its stake in Palomar by 2.1% in the 2nd quarter. American Century Companies Inc. now owns 846,312 shares of the company's stock valued at $130,544,000 after buying an additional 17,188 shares in the last quarter. Invesco Ltd. lifted its stake in Palomar by 234.1% in the 2nd quarter. Invesco Ltd. now owns 798,361 shares of the company's stock valued at $123,147,000 after buying an additional 559,383 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Palomar by 72.1% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 785,165 shares of the company's stock worth $105,809,000 after buying an additional 328,993 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in Palomar by 81.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 738,528 shares of the company's stock worth $86,223,000 after buying an additional 330,592 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Palomar from a "hold" rating to a "buy" rating in a research note on Saturday, January 10th. JPMorgan Chase & Co. lifted their price objective on shares of Palomar from $145.00 to $155.00 and gave the company an "overweight" rating in a report on Wednesday, January 7th. Weiss Ratings raised shares of Palomar from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, January 14th. Finally, Keefe, Bruyette & Woods raised their target price on Palomar from $170.00 to $171.00 and gave the company an "outperform" rating in a research report on Tuesday, January 6th. Six equities research 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 an average rating of "Moderate Buy" and an average price target of $159.50.
Check Out Our Latest Analysis on Palomar
Key Headlines Impacting Palomar
Here are the key news stories impacting Palomar this week:
- Neutral Sentiment: Yahoo Finance published a piece asking whether PLMR's recent price slide creates a long‑term buying opportunity — a constructive framing for value investors but speculative. Is Palomar Holdings (PLMR) Price Slide Creating A Long Term Opportunity For Investors
- Negative Sentiment: CEO Mac Armstrong sold 11,484 shares at $119.88 (≈$1.38M); his post-sale holding is 91,737 shares (11.13% decrease). SEC filing: CEO Sale Filing
- Negative Sentiment: President Jon Christianson sold 1,991 shares at $119.88 (≈$238.7k); post-sale holding 62,985 shares (3.06% decrease). SEC filing: President Sale Filing
- Negative Sentiment: CFO T. Christopher Uchida sold 2,103 shares at $119.88 (≈$252.1k); post-sale holding 11,473 shares (15.49% decrease). SEC filing: CFO Sale Filing
- Negative Sentiment: Insider Jonathan Knutzen sold 1,535 shares at $119.88 (≈$184.0k); post-sale holding 24,809 shares (5.83% decrease). SEC filing: Insider Sale Filing
- Negative Sentiment: Insider Angela L. Grant sold 1,447 shares at $119.88 (≈$173.5k); post-sale holding 5,242 shares (21.63% decrease). SEC filing: Insider Sale Filing
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.
See Also
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].
