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

Key Points

• Palomar COO Rodolphe Herve sold 1,207 shares at an average price of $135.35, totaling $163,367.45. The sale covered tax-withholding obligations tied to vested equity awards, reducing his direct ownership by 25.38% to 3,548 shares.
• Palomar shares slipped 0.3% to $136.11, while the company reported quarterly EPS of $2.36, beating analysts’ $2.19 consensus estimate. The stock has a $3.61 billion market capitalization and trades near its 52-week high.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $162.50. Institutional investors own approximately 90.25% of Palomar’s outstanding shares.

Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) COO Rodolphe Herve sold 1,207 shares of the firm's stock in a transaction that occurred 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 $480,221.80. This represents a 25.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Palomar Stock Down 0.3%

Shares of PLMR stock traded down $0.40 during trading on Tuesday, reaching $136.11. The company's stock had a trading volume of 171,135 shares, compared to its average volume of 270,371. The business has a fifty day moving average price of $124.76 and a 200-day moving average price of $123.54. 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 has a market cap of $3.61 billion, a price-to-earnings ratio of 18.96 and a beta of 0.40. Palomar Holdings, Inc. has a one year low of $100.81 and a one year high of $147.62.

Palomar (NASDAQ:PLMR - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.19 by $0.17. The business had revenue of $314.42 million during the quarter, compared to analysts' expectations of $621.52 million. Palomar had a net margin of 20.11% and a return on equity of 22.62%. Analysts anticipate that Palomar Holdings, Inc. will post 8.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Palomar

Institutional investors and hedge funds have recently modified their holdings of the company. Geneos Wealth Management Inc. acquired a new position in Palomar during the fourth quarter worth approximately $32,000. Kestra Advisory Services LLC acquired a new stake in shares of Palomar in the fourth quarter valued at approximately $33,000. Rockefeller Capital Management L.P. lifted its position in shares of Palomar by 81.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 294 shares of the company's stock valued at $40,000 after buying an additional 132 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Palomar by 638.3% during the 1st quarter. Parallel Advisors LLC now owns 443 shares of the company's stock worth $53,000 after acquiring an additional 383 shares during the period. Finally, Frazier Financial Advisors LLC bought a new position in shares of Palomar during the 4th quarter worth approximately $54,000. 90.25% of the stock is owned by institutional investors.

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.

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