Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) CEO Mac Armstrong sold 3,500 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $130.60, for a total transaction of $457,100.00. Following the sale, the chief executive officer directly owned 322,388 shares of the company's stock, valued at $42,103,872.80. The trade was a 1.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Mac Armstrong also recently made the following trade(s):
- On Tuesday, July 21st, Mac Armstrong sold 3,500 shares of Palomar stock. The shares were sold at an average price of $137.26, for a total transaction of $480,410.00.
- On Monday, June 22nd, Mac Armstrong sold 3,500 shares of Palomar stock. The shares were sold at an average price of $112.96, for a total transaction of $395,360.00.
Palomar Stock Performance
Palomar stock opened at $133.03 on Tuesday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average of $131.16 and a 200-day moving average of $124.00. The firm has a market cap of $3.50 billion, a P/E ratio of 17.88 and a beta of 0.40. Palomar Holdings, Inc. has a 1-year low of $100.81 and a 1-year high of $147.62.
Palomar (NASDAQ:PLMR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $2.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.19 by $0.17. The company had revenue of $314.42 million for the quarter, compared to the consensus estimate of $621.52 million. Palomar had a return on equity of 23.28% and a net margin of 18.61%.During the same quarter in the previous year, the business earned $1.76 EPS. Sell-side analysts expect that Palomar Holdings, Inc. will post 9.21 EPS for the current year.
Palomar Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Wednesday, August 19th. Palomar's dividend payout ratio is currently 24.19%.
Institutional Investors Weigh In On Palomar
Hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. purchased a new stake in Palomar in the fourth quarter worth $32,000. Kestra Advisory Services LLC bought a new position in Palomar in the fourth quarter worth $33,000. Rockefeller Capital Management L.P. lifted its position in Palomar by 81.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 294 shares of the company's stock valued at $40,000 after buying an additional 132 shares during the period. Quantbot Technologies LP purchased a new position in Palomar during the second quarter valued at $43,000. Finally, Frazier Financial Advisors LLC bought a new stake in shares of Palomar during the 4th quarter valued at $54,000. 90.25% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
PLMR has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Palomar from $150.00 to $167.00 and gave the company an "overweight" rating in a report on Monday, July 20th. Keefe, Bruyette & Woods upped their price objective on shares of Palomar from $166.00 to $167.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. Evercore set a $152.00 target price on shares of Palomar in a research report on Friday, July 10th. Weiss Ratings raised shares of Palomar from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, June 18th. Finally, Zacks Research cut shares of Palomar from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 15th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $162.75.
Get Our Latest Report on PLMR
About Palomar
(
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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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