Palomar (NASDAQ:PLMR) CEO Sells $457,695.00 in Stock
by Jessica Moore · The Cerbat GemPalomar Holdings, Inc. (NASDAQ:PLMR – Get Free Report) CEO Mac Armstrong sold 3,500 shares of the business’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $130.77, for a total value of $457,695.00. Following the completion of the sale, the chief executive officer directly owned 336,388 shares in the company, valued at $43,989,458.76. This represents a 1.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 Wednesday, April 15th, Mac Armstrong sold 3,197 shares of Palomar stock. The stock was sold at an average price of $129.46, for a total value of $413,883.62.
- On Monday, March 23rd, Mac Armstrong sold 3,500 shares of Palomar stock. The shares were sold at an average price of $120.58, for a total transaction of $422,030.00.
- On Thursday, February 12th, Mac Armstrong sold 5,000 shares of Palomar stock. The shares were sold at an average price of $122.60, for a total transaction of $613,000.00.
- On Saturday, January 31st, Mac Armstrong sold 2,205 shares of Palomar stock. The stock was sold at an average price of $121.74, for a total transaction of $268,436.70.
- On Saturday, January 31st, Mac Armstrong sold 2,205 shares of Palomar stock. The stock was sold at an average price of $121.74, for a total transaction of $268,436.70.
- On Thursday, January 29th, Mac Armstrong sold 5,399 shares of Palomar stock. The stock was sold at an average price of $122.04, for a total transaction of $658,893.96.
- On Thursday, January 29th, Mac Armstrong sold 5,399 shares of Palomar stock. The shares were sold at an average price of $122.04, for a total value of $658,893.96.
- On Wednesday, January 28th, Mac Armstrong sold 11,484 shares of Palomar stock. The shares were sold at an average price of $119.88, for a total value of $1,376,701.92.
Palomar Price Performance
Shares of NASDAQ:PLMR traded down $2.71 on Wednesday, reaching $129.04. 177,342 shares of the company traded hands, compared to its average volume of 248,837. The stock has a market capitalization of $3.42 billion, a PE ratio of 17.97 and a beta of 0.54. The company’s 50 day moving average is $124.24 and its 200-day moving average is $124.32. Palomar Holdings, Inc. has a fifty-two week low of $107.75 and a fifty-two week high of $175.85.
Palomar (NASDAQ:PLMR – Get Free Report) last issued its earnings results on Wednesday, February 11th. The company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.18. Palomar had a return on equity of 22.77% and a net margin of 22.50%.The business had revenue of $253.36 million for the quarter, compared to analysts’ expectations of $204.58 million. During the same period in the previous year, the firm posted $1.52 EPS. The company’s quarterly revenue was up 62.7% on a year-over-year basis. As a group, analysts expect that Palomar Holdings, Inc. will post 8.97 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Palomar from $183.00 to $186.00 and gave the company an “outperform” rating in a research note on Tuesday, April 7th. Weiss Ratings downgraded shares of Palomar from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, April 7th. Zacks Research upgraded shares of Palomar from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. Evercore assumed coverage on shares of Palomar in a research note on Monday, February 9th. They issued an “outperform” rating and a $150.00 price objective for the company. Finally, Wall Street Zen cut shares of Palomar from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Palomar currently has a consensus rating of “Buy” and a consensus price target of $161.75.
View Our Latest Research Report on Palomar
Institutional Investors Weigh In On Palomar
A number of institutional investors have recently modified their holdings of PLMR. Janney Montgomery Scott LLC purchased a new stake in shares of Palomar during the first quarter worth $359,000. Louisiana State Employees Retirement System purchased a new position in Palomar in the first quarter valued at about $1,410,000. Diversified Trust Co increased its position in Palomar by 15.0% in the 1st quarter. Diversified Trust Co now owns 8,887 shares of the company’s stock worth $1,062,000 after purchasing an additional 1,156 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in Palomar by 81.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 294 shares of the company’s stock worth $40,000 after purchasing an additional 132 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Palomar during the 4th quarter worth about $215,000. Institutional investors and hedge funds own 90.25% of the company’s stock.
About Palomar
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.