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Palomar Holdings (NASDAQ:PLMR) CEO and Chairman Mac Armstrong sold 3,191 shares of company stock on July 15, 2025, at a price of $143.10, for a total transaction value of $456,632. The transaction comes as the $3.85 billion market cap insurer shows strong momentum, with the stock up over 30% in the past six months. According to InvestingPro, the company maintains a GREAT financial health score.
On the same day, Armstrong also exercised options to acquire 6,250 shares of Palomar Holdings common stock. These shares were obtained through the vesting of Restricted Stock Units (RSUs) at a price of $0.00. With the company’s next earnings report scheduled for July 30, investors can access comprehensive analysis and 8 additional key insights through InvestingPro’s detailed research reports.
Following these transactions, Armstrong directly owns 73,245 shares of Palomar Holdings, which includes 2,555 shares purchased through the company’s Employee Stock Purchase Plan. Additionally, he indirectly owns 387,388 shares through the Armstrong Family Trust. He also directly owns 25,000 Restricted Stock Units (RSUs).
The sale of shares was to cover minimum statutory tax withholding obligations due upon the RSU vesting event.
In other recent news, Palomar Holdings reported a significant earnings beat for the first quarter of 2025, with adjusted earnings per share reaching $1.87, surpassing the forecasted $1.62. The company achieved a 20% increase in gross written premiums, totaling $442.2 million, although revenue slightly missed expectations. Palomar’s strong performance led to an 85% year-over-year increase in adjusted net income, amounting to $51.3 million. The company also raised its full-year 2025 adjusted net income guidance to a range of $186 million to $200 million. Analysts at Keefe, Bruyette & Woods recently updated their price target for Palomar to $205, citing improved financial projections and maintaining an Outperform rating. Meanwhile, Truist Securities raised its price target to $188, maintaining a Buy rating, driven by a positive outlook on Palomar’s earnings potential. In a strategic move, Palomar announced a partnership with Neptune Flood, expected to accelerate premium growth by October 2025. These developments highlight Palomar’s ongoing strategic initiatives and growth prospects within the specialty insurance sector.
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