Key Points
- Palomar CEO Mac Armstrong sold 3,500 shares on May 21 at an average price of $114.39, worth about $400,365. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and his ownership fell about 1.04%.
- PLMR shares traded lower, opening at $113.87 and down about 1.0% in the session. The stock remains near its 52-week low of $107.51, with a 52-week high of $175.85.
- Palomar beat earnings expectations in its latest quarterly report, posting EPS of $2.31 versus estimates of $2.17, while revenue rose 59.7% year over year. Wall Street still rates the stock a Moderate Buy with a consensus target price of $150.25, though several analysts have recently trimmed their price targets.
Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) CEO Mac Armstrong sold 3,500 shares of the firm's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $114.39, for a total value of $400,365.00. Following the transaction, the chief executive officer owned 332,888 shares in the company, valued at approximately $38,079,058.32. This trade represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 Tuesday, April 21st, Mac Armstrong sold 3,500 shares of Palomar stock. The shares were sold at an average price of $130.77, for a total value of $457,695.00.
- 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 value 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 value of $422,030.00.
Palomar Trading Down 1.0%
Palomar stock opened at $113.87 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.49 and a current ratio of 0.49. The business's 50-day simple moving average is $120.66 and its 200-day simple moving average is $124.48. The firm has a market capitalization of $3.02 billion, a PE ratio of 15.86 and a beta of 0.49. Palomar Holdings, Inc. has a 52 week low of $107.51 and a 52 week high of $175.85.
Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.17 by $0.14. The business had revenue of $278.94 million for the quarter, compared to analyst estimates of $557.79 million. Palomar had a return on equity of 22.62% and a net margin of 20.11%.The firm's revenue for the quarter was up 59.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.87 earnings per share. Equities research analysts forecast that Palomar Holdings, Inc. will post 9.02 earnings per share for the current year.
Wall Street Analysts Forecast Growth
PLMR has been the topic of a number of recent analyst reports. Piper Sandler dropped their price objective on Palomar from $151.00 to $132.00 and set an "overweight" rating on the stock in a research note on Monday, May 11th. Weiss Ratings lowered Palomar from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. lifted their price objective on Palomar from $155.00 to $160.00 and gave the stock an "overweight" rating in a research note on Monday, February 23rd. Zacks Research lowered Palomar from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 15th. Finally, Keefe, Bruyette & Woods dropped their price objective on Palomar from $186.00 to $159.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Palomar currently has an average rating of "Moderate Buy" and a consensus target price of $150.25.
View Our Latest Stock Report on Palomar
Institutional Investors Weigh In On Palomar
A number of institutional investors have recently added to or reduced their stakes in PLMR. Royal Bank of Canada boosted its holdings in Palomar by 49.1% during the first quarter. Royal Bank of Canada now owns 2,956 shares of the company's stock valued at $406,000 after purchasing an additional 974 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Palomar by 5.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,427 shares of the company's stock valued at $2,115,000 after purchasing an additional 791 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in Palomar during the first quarter valued at approximately $66,000. United Services Automobile Association acquired a new stake in Palomar during the first quarter valued at approximately $223,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Palomar by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,661 shares of the company's stock valued at $9,960,000 after purchasing an additional 7,754 shares in the last quarter. 90.25% of the stock is 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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