Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) CEO Mac Armstrong sold 3,500 shares of the firm's stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $138.31, for a total transaction of $484,085.00. Following the transaction, the chief executive officer directly owned 315,388 shares in the company, valued at approximately $43,621,314.28. The trade was a 1.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Mac Armstrong also recently made the following trade(s):
- On Monday, September 21st, Mac Armstrong sold 3,500 shares of Palomar stock. The stock was sold at an average price of $134.98, for a total transaction of $472,430.00.
- On Friday, August 21st, Mac Armstrong sold 3,500 shares of Palomar stock. The stock was sold at an average price of $130.60, for a total transaction of $457,100.00.
Palomar Trading Up 3.9%
Palomar stock opened at $144.53 on Friday. The firm has a 50 day simple moving average of $132.13 and a 200-day simple moving average of $126.90. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.50 and a quick ratio of 0.50. The stock has a market capitalization of $3.80 billion, a PE ratio of 17.33 and a beta of 0.35. Palomar Holdings, Inc. has a 12-month low of $100.81 and a 12-month high of $147.62.
Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $2.36 EPS for the quarter, beating analysts' consensus estimates of $2.19 by $0.17. Palomar had a net margin of 18.61% and a return on equity of 23.28%. The business had revenue of $314.42 million for the quarter, compared to analyst estimates of $621.52 million. During the same quarter last year, the business earned $1.76 earnings per share. As a group, equities research analysts expect that Palomar Holdings, Inc. will post 9.29 EPS for the current fiscal year.
Palomar Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, August 19th. Palomar's dividend payout ratio (DPR) is presently 24.19%.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on PLMR. JPMorgan Chase & Co. decreased their target price on Palomar from $167.00 to $156.00 and set an "overweight" rating for the company in a research note on Friday, October 9th. Zacks Research upgraded shares of Palomar from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 30th. Evercore set a $152.00 price target on shares of Palomar in a research report on Friday, July 10th. Keefe, Bruyette & Woods upped their price target on shares of Palomar from $166.00 to $167.00 and gave the company an "outperform" rating in a report on Monday, August 10th. Finally, Weiss Ratings upgraded shares of Palomar from a "buy (b)" rating to a "buy (b+)" rating in a research report on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. According to MarketBeat.com, Palomar has an average rating of "Buy" and a consensus price target of $160.00.
Read Our Latest Analysis on Palomar
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Wedbush Securities Inc. acquired a new position in Palomar in the third quarter worth approximately $210,000. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Palomar during the 3rd quarter valued at $282,000. Sterling Capital Management LLC boosted its stake in shares of Palomar by 843.0% during the 3rd quarter. Sterling Capital Management LLC now owns 877 shares of the company's stock worth $108,000 after acquiring an additional 784 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Palomar by 37.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,386 shares of the company's stock worth $171,000 after acquiring an additional 381 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC bought a new stake in shares of Palomar during the 3rd quarter worth $206,000. Institutional investors and hedge funds own 90.25% of the company's stock.
Palomar Company Profile
(
Get Free Report)
Palomar Holdings, Inc is a specialty insurance company that provides property and casualty insurance products in markets that may be underserved by traditional insurers. The company focuses on risks that are complex, difficult to place or exposed to natural catastrophes, using specialized underwriting and risk-management capabilities.
Its offerings include residential and commercial earthquake insurance, inland marine coverage, specialty property insurance, casualty products, workers' compensation and other tailored insurance solutions.
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