Palomar (NASDAQ:PLMR) CEO Mac Armstrong Sells 11,484 Shares of Stock

by · The Cerbat Gem

Palomar Holdings, Inc. (NASDAQ:PLMR – Get Free Report) CEO Mac Armstrong sold 11,484 shares of the firm’s stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $119.88, for a total transaction of $1,376,701.92. Following the completion of the transaction, the chief executive officer owned 91,737 shares of the company’s stock, valued at approximately $10,997,431.56. The trade was a 11.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

  • On Wednesday, January 21st, Mac Armstrong sold 5,000 shares of Palomar stock. The shares were sold at an average price of $129.00, for a total value of $645,000.00.
  • 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 stock was sold at an average price of $122.86, for a total transaction of $614,300.00.

Palomar Stock Performance

Shares of NASDAQ:PLMR traded up $0.38 on Friday, hitting $123.59. 266,025 shares of the company were exchanged, compared to its average volume of 191,596. Palomar Holdings, Inc. has a one year low of $104.47 and a one year high of $175.85. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 19.28 and a beta of 0.42. The company’s 50 day moving average price is $127.64 and its two-hundred day moving average price is $124.07.

Palomar (NASDAQ:PLMR – Get Free Report) last issued its quarterly earnings data on Thursday, November 6th. The company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.45. Palomar had a net margin of 22.59% and a return on equity of 21.93%. The firm had revenue of $244.66 million for the quarter, compared to analysts’ expectations of $207.98 million. During the same period in the prior year, the firm earned $1.23 earnings per share. Research analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PLMR. Wall Street Zen upgraded Palomar from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. JPMorgan Chase & Co. raised their price target on shares of Palomar from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, January 7th. Weiss Ratings raised Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 14th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Palomar from $170.00 to $171.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Palomar presently has an average rating of “Moderate Buy” and a consensus target price of $159.50.

View Our Latest Stock Analysis on PLMR

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its stake in shares of Palomar by 93.7% during the 2nd quarter. Osaic Holdings Inc. now owns 19,370 shares of the company’s stock valued at $2,933,000 after buying an additional 9,371 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in Palomar during the 3rd quarter valued at $1,459,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Palomar by 11.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 456,172 shares of the company’s stock worth $53,258,000 after purchasing an additional 45,665 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Palomar by 256.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,785 shares of the company’s stock worth $6,445,000 after purchasing an additional 30,049 shares during the period. Finally, Hussman Strategic Advisors Inc. purchased a new stake in Palomar in the 3rd quarter valued at about $2,452,000. Institutional investors own 90.25% of the company’s stock.

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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