Palomar (NASDAQ:PLMR) CEO Sells $645,000.00 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong sold 5,000 shares of the stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $129.00, for a total value of $645,000.00. Following the completion of the transaction, the chief executive officer directly owned 348,388 shares of the company’s stock, valued at $44,942,052. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Mac Armstrong also recently made the following trade(s):

• On Thursday, January 15th, Mac Armstrong sold 2,310 shares of Palomar stock. The shares were sold at an average price of $130.00, for a total transaction of $300,300.00.
• On Friday, November 21st, Mac Armstrong sold 5,000 shares of Palomar stock. The shares were sold at an average price of $122.86, for a total transaction of $614,300.00.

Palomar Stock Performance

Shares of NASDAQ:PLMR traded down $2.17 during trading on Thursday, reaching $127.83. The company had a trading volume of 151,823 shares, compared to its average volume of 182,637. Palomar Holdings, Inc. has a twelve month low of $101.64 and a twelve month high of $175.85. The firm has a market capitalization of $3.39 billion, a PE ratio of 19.94 and a beta of 0.42. The firm’s fifty day moving average is $128.05 and its 200 day moving average is $124.67.

Palomar (NASDAQ:PLMR) last released its earnings results on Thursday, November 6th. The company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.45. The firm had revenue of $244.66 million during the quarter, compared to the consensus estimate of $207.98 million. Palomar had a return on equity of 21.93% and a net margin of 22.59%.During the same period in the prior year, the firm posted $1.23 earnings per share. Equities analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Palomar

A number of institutional investors have recently bought and sold shares of PLMR. Salomon & Ludwin LLC acquired a new stake in shares of Palomar during the third quarter worth approximately $25,000. Richardson Financial Services Inc. grew its position in Palomar by 210.0% in the third quarter. Richardson Financial Services Inc. now owns 217 shares of the company’s stock worth $25,000 after acquiring an additional 147 shares in the last quarter. Allworth Financial LP lifted its position in shares of Palomar by 1,970.0% in the second quarter. Allworth Financial LP now owns 207 shares of the company’s stock worth $32,000 after buying an additional 197 shares during the last quarter. Maseco LLP bought a new stake in shares of Palomar during the 2nd quarter worth about $45,000. Finally, Clearstead Advisors LLC raised its stake in shares of Palomar by 31.0% in the 3rd quarter. Clearstead Advisors LLC now owns 397 shares of the company’s stock valued at $46,000 after acquiring an additional 94 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Weiss Ratings upgraded shares of Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, January 14th. Evercore ISI decreased their price target on shares of Palomar from $168.00 to $134.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 1st. JPMorgan Chase & Co. upped their price target on Palomar from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, January 7th. Keefe, Bruyette & Woods raised their price objective on Palomar from $170.00 to $171.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Finally, Wall Street Zen raised Palomar from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $159.50.

Palomar Company Profile

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.