Palomar Holdings, Inc. (PLMR) To Go Ex-Dividend on November 17th

Palomar Holdings, Inc. (NASDAQ:PLMR) declared a quarterly dividend on Thursday, October 29th. Shareholders of record on Tuesday, November 17th will be paid a dividend of $0.45 per share on Wednesday, December 2nd. This represents a $1.80 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, November 17th.

Palomar Trading Up 0.6%

Shares of NASDAQ PLMR traded up $0.89 during midday trading on Friday, reaching $159.20. The stock had a trading volume of 146,781 shares, compared to its average volume of 331,962. The company’s 50 day moving average price is $137.60 and its 200 day moving average price is $127.70. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.50 and a current ratio of 0.49. Palomar has a twelve month low of $100.81 and a twelve month high of $162.08. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of 19.92 and a beta of 0.28.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.45. Palomar had a net margin of 17.60% and a return on equity of 25.27%. The business had revenue of $386.59 million for the quarter, compared to analysts’ expectations of $754.28 million. During the same quarter in the prior year, the firm posted $2.01 earnings per share. As a group, sell-side analysts expect that Palomar will post 9.29 EPS for the current year.

Insider Transactions at Palomar

In related news, CFO T. Christopher Uchida sold 791 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $127.74, for a total value of $101,042.34. Following the transaction, the chief financial officer directly owned 16,238 shares in the company, valued at $2,074,242.12. This trade represents a 4.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jonathan Knutzen sold 296 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $127.75, for a total transaction of $37,814.00. Following the completion of the transaction, the insider directly owned 28,250 shares in the company, valued at $3,608,937.50. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 12,115 shares of company stock valued at $1,619,923 over the last ninety days. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Quantbot Technologies LP purchased a new position in Palomar during the 2nd quarter worth $43,000. Frazier Financial Advisors LLC bought a new position in shares of Palomar during the second quarter valued at about $51,000. Fortitude Family Office LLC lifted its position in shares of Palomar by 5,050.0% during the third quarter. Fortitude Family Office LLC now owns 412 shares of the company’s stock valued at $51,000 after purchasing an additional 404 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Palomar by 638.3% during the first quarter. Parallel Advisors LLC now owns 443 shares of the company’s stock worth $53,000 after purchasing an additional 383 shares during the last quarter. Finally, Advisors Asset Management Inc. bought a new stake in Palomar in the 3rd quarter worth about $55,000. Institutional investors own 90.25% of the company’s stock.

About Palomar

Palomar Holdings, Inc. is a specialty property insurer that provides coverage for risks that can be difficult to insure through standard policies. Its offerings include earthquake, hurricane, flood and wildfire insurance, along with specialty homeowners and commercial property coverage. The company distributes its products through a network of agents, brokers and other partners, serving customers in the United States. Its business has grown from an initial focus on earthquake insurance into a broader range of specialty insurance markets.