Insider Selling: Palomar (NASDAQ:PLMR) COO Sells $51,867.00 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) COO Rodolphe Herve sold 425 shares of the business’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $122.04, for a total transaction of $51,867.00. Following the sale, the chief operating officer owned 2,758 shares of the company’s stock, valued at approximately $336,586.32. The trade was a 13.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Palomar Stock Performance

Palomar stock opened at $122.99 on Thursday. Palomar Holdings, Inc. has a 1 year low of $107.01 and a 1 year high of $175.85. The firm’s 50-day moving average is $127.61 and its 200-day moving average is $123.44. The company has a market cap of $3.26 billion, a P/E ratio of 19.19 and a beta of 0.44.

Palomar (NASDAQ:PLMR) last released 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 analyst estimates of $207.98 million. During the same quarter in the prior year, the business earned $1.23 earnings per share. As a group, sell-side analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PLMR. Allworth Financial LP grew its stake in shares of Palomar by 1,970.0% in the second quarter. Allworth Financial LP now owns 207 shares of the company’s stock worth $32,000 after purchasing an additional 197 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in Palomar in the third quarter worth about $25,000. Richardson Financial Services Inc. grew its position in Palomar by 210.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 217 shares of the company’s stock valued at $25,000 after buying an additional 147 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in Palomar during the 4th quarter valued at about $32,000. Finally, Hollencrest Capital Management increased its stake in Palomar by 56.5% during the 2nd quarter. Hollencrest Capital Management now owns 313 shares of the company’s stock valued at $48,000 after buying an additional 113 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods raised their price target on Palomar from $170.00 to $171.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Wall Street Zen raised Palomar from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Weiss Ratings raised shares of Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of Palomar from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $159.50.

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.