Palomar Holdings, Inc. (NASDAQ:PLMR – Get Free Report) insider Timothy Carter sold 480 shares of Palomar stock in a transaction that occurred on Sunday, June 28th. The shares were sold at an average price of $124.29, for a total transaction of $59,659.20. Following the sale, the insider owned 1,670 shares of the company’s stock, valued at approximately $207,564.30. The trade was a 22.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Palomar Price Performance
Shares of NASDAQ:PLMR opened at $126.39 on Wednesday. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 17.60 and a beta of 0.44. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.49 and a quick ratio of 0.49. The business’s 50 day simple moving average is $115.23 and its 200-day simple moving average is $122.56. Palomar Holdings, Inc. has a 12 month low of $100.81 and a 12 month high of $156.55.
Palomar (NASDAQ:PLMR – Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.14. The company had revenue of $278.94 million for the quarter, compared to the consensus estimate of $557.79 million. Palomar had a return on equity of 22.62% and a net margin of 20.11%.Palomar’s quarterly revenue was up 59.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.87 earnings per share. As a group, equities analysts forecast that Palomar Holdings, Inc. will post 8.93 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
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Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. purchased a new stake in shares of Palomar in the fourth quarter valued at $32,000. Kestra Advisory Services LLC purchased a new stake in Palomar in the 4th quarter valued at about $33,000. Rockefeller Capital Management L.P. grew its holdings in Palomar by 81.5% in the 4th 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. Clearstead Advisors LLC increased its stake in shares of Palomar by 31.0% during 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 during the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Palomar by 638.3% during the 1st quarter. Parallel Advisors LLC now owns 443 shares of the company’s stock valued at $53,000 after acquiring an additional 383 shares during the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.
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.
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