Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) CEO Mac Armstrong sold 3,500 shares of the business's stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $130.77, for a total transaction of $457,695.00. Following the transaction, the chief executive officer directly owned 336,388 shares in the company, valued at $43,989,458.76. The trade was a 1.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Mac Armstrong also recently made the following trade(s):
- On Wednesday, April 15th, Mac Armstrong sold 3,197 shares of Palomar stock. The shares were sold at an average price of $129.46, for a total transaction of $413,883.62.
- On Monday, March 23rd, Mac Armstrong sold 3,500 shares of Palomar stock. The shares were sold at an average price of $120.58, for a total transaction of $422,030.00.
- On Thursday, February 12th, Mac Armstrong sold 5,000 shares of Palomar stock. The shares were sold at an average price of $122.60, for a total transaction of $613,000.00.
- On Saturday, January 31st, Mac Armstrong sold 2,205 shares of Palomar stock. The shares were sold at an average price of $121.74, for a total transaction of $268,436.70.
- On Saturday, January 31st, Mac Armstrong sold 2,205 shares of Palomar stock. The shares were sold at an average price of $121.74, for a total transaction of $268,436.70.
- On Thursday, January 29th, Mac Armstrong sold 5,399 shares of Palomar stock. The shares were sold at an average price of $122.04, for a total transaction of $658,893.96.
- On Thursday, January 29th, Mac Armstrong sold 5,399 shares of Palomar stock. The shares were sold at an average price of $122.04, for a total transaction of $658,893.96.
- On Wednesday, January 28th, Mac Armstrong sold 11,484 shares of Palomar stock. The shares were sold at an average price of $119.88, for a total transaction of $1,376,701.92.
Palomar Stock Down 2.1%
NASDAQ PLMR opened at $129.04 on Thursday. The stock has a market capitalization of $3.42 billion, a PE ratio of 17.97 and a beta of 0.54. The company has a 50 day moving average price of $124.19 and a two-hundred day moving average price of $124.36. Palomar Holdings, Inc. has a 12-month low of $107.75 and a 12-month high of $175.85.
Palomar (NASDAQ:PLMR - Get Free Report) last posted its earnings results on Wednesday, February 11th. The company reported $2.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.06 by $0.18. The firm had revenue of $253.36 million during the quarter, compared to analysts' expectations of $204.58 million. Palomar had a net margin of 22.50% and a return on equity of 22.77%. The company's revenue was up 62.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.52 earnings per share. As a group, equities analysts anticipate that Palomar Holdings, Inc. will post 8.97 EPS for the current year.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on PLMR shares. Weiss Ratings cut shares of Palomar from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, April 7th. Evercore started coverage on shares of Palomar in a research note on Monday, February 9th. They issued an "outperform" rating and a $150.00 target price for the company. Keefe, Bruyette & Woods lifted their target price on shares of Palomar from $183.00 to $186.00 and gave the company an "outperform" rating in a research note on Tuesday, April 7th. JPMorgan Chase & Co. boosted their price objective on shares of Palomar from $155.00 to $160.00 and gave the stock an "overweight" rating in a research note on Monday, February 23rd. Finally, Zacks Research upgraded shares of Palomar from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $161.75.
Read Our Latest Report on PLMR
Institutional Trading of Palomar
Institutional investors and hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of Palomar by 14.0% in the third quarter. Principal Financial Group Inc. now owns 182,255 shares of the company's stock worth $21,278,000 after buying an additional 22,346 shares during the last quarter. Osaic Holdings Inc. lifted its stake in shares of Palomar by 93.7% in the second quarter. Osaic Holdings Inc. now owns 19,370 shares of the company's stock worth $2,933,000 after buying an additional 9,371 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Palomar in the third quarter worth $1,459,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Palomar by 11.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 456,172 shares of the company's stock worth $53,258,000 after buying an additional 45,665 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its stake in Palomar by 14.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 104,449 shares of the company's stock valued at $12,194,000 after purchasing an additional 13,270 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.
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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