Mac Armstrong Sells 5,000 Shares of Palomar (NASDAQ:PLMR) Stock

by · The Markets Daily

Palomar Holdings, Inc. (NASDAQ:PLMR – Get Free Report) CEO Mac Armstrong sold 5,000 shares of the business’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $129.00, for a total transaction of $645,000.00. Following the completion of the sale, the chief executive officer owned 348,388 shares of the company’s stock, valued at $44,942,052. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 stock was 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 Palomar stock traded down $2.17 during trading on Thursday, reaching $127.83. The company’s stock had a trading volume of 151,823 shares, compared to its average volume of 182,637. Palomar Holdings, Inc. has a one year low of $101.64 and a one year high of $175.85. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 19.94 and a beta of 0.42. The business’s fifty day moving average price is $128.05 and its 200-day moving average price is $124.67.

Palomar (NASDAQ:PLMR – Get Free Report) last released its earnings results on Thursday, November 6th. The company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.45. Palomar had a return on equity of 21.93% and a net margin of 22.59%.The firm had revenue of $244.66 million for the quarter, compared to analyst estimates of $207.98 million. During the same quarter last year, the firm posted $1.23 EPS. Sell-side analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Hedge Funds Weigh In On Palomar

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Palomar by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,631,240 shares of the company’s stock worth $307,197,000 after purchasing an additional 77,515 shares in the last quarter. American Century Companies Inc. increased its position in shares of Palomar by 2.1% during the second quarter. American Century Companies Inc. now owns 846,312 shares of the company’s stock worth $130,544,000 after acquiring an additional 17,188 shares in the last quarter. Invesco Ltd. increased its position in shares of Palomar by 234.1% during the second quarter. Invesco Ltd. now owns 798,361 shares of the company’s stock worth $123,147,000 after acquiring an additional 559,383 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Palomar by 81.0% during the third quarter. Westfield Capital Management Co. LP now owns 738,528 shares of the company’s stock worth $86,223,000 after acquiring an additional 330,592 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Palomar by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 657,530 shares of the company’s stock worth $101,436,000 after purchasing an additional 13,802 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

View Our Latest Analysis on PLMR

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.

Featured Articles