Palomar (NASDAQ:PLMR) COO Sells 1,207 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) COO Rodolphe Herve sold 1,207 shares of Palomar stock in a transaction on Friday, July 31st. The stock was sold at an average price of $135.35, for a total transaction of $163,367.45. Following the transaction, the chief operating officer directly owned 3,548 shares of the company’s stock, valued at approximately $480,221.80. This trade represents a 25.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Palomar Stock Performance

Shares of NASDAQ PLMR traded down $0.40 during mid-day trading on Tuesday, reaching $136.11. 171,135 shares of the company were exchanged, compared to its average volume of 270,371. The stock has a market capitalization of $3.61 billion, a P/E ratio of 18.96 and a beta of 0.40. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.31. The company’s 50-day simple moving average is $124.76 and its 200-day simple moving average is $123.54. Palomar Holdings, Inc. has a twelve month low of $100.81 and a twelve month high of $147.62.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.17. The business had revenue of $314.42 million for the quarter, compared to analyst estimates of $621.52 million. Palomar had a net margin of 20.11% and a return on equity of 22.62%. As a group, research analysts predict that Palomar Holdings, Inc. will post 8.9 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Summit Global Investments grew its stake in Palomar by 1.7% in the fourth quarter. Summit Global Investments now owns 4,646 shares of the company’s stock valued at $626,000 after acquiring an additional 79 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Palomar by 3.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,546 shares of the company’s stock worth $333,000 after purchasing an additional 82 shares during the period. Quadrant Capital Group LLC raised its position in shares of Palomar by 2.0% during the fourth quarter. Quadrant Capital Group LLC now owns 4,464 shares of the company’s stock worth $602,000 after purchasing an additional 88 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Palomar by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 24,207 shares of the company’s stock worth $3,734,000 after purchasing an additional 97 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Palomar by 11.7% in the 4th quarter. Covestor Ltd now owns 1,254 shares of the company’s stock worth $169,000 after purchasing an additional 131 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PLMR. Zacks Research downgraded Palomar from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Weiss Ratings raised Palomar from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 18th. JPMorgan Chase & Co. upped their price objective on Palomar from $150.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Piper Sandler increased their price objective on Palomar from $132.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Finally, Evercore set a $152.00 target price on Palomar in a report on Friday, July 10th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Palomar presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.50.

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.