Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong Sells 7,000 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $109.76, for a total transaction of $768,320.00. Following the completion of the transaction, the chief executive officer now owns 412,388 shares in the company, valued at $45,263,706.88. This trade represents a 1.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Mac Armstrong also recently made the following trade(s):

• On Wednesday, January 15th, Mac Armstrong sold 3,154 shares of Palomar stock. The shares were sold at an average price of $109.27, for a total transaction of $344,637.58.
• On Wednesday, January 1st, Mac Armstrong sold 4,170 shares of Palomar stock. The stock was sold at an average price of $105.86, for a total transaction of $441,436.20.
• On Monday, December 23rd, Mac Armstrong sold 7,000 shares of Palomar stock. The stock was sold at an average price of $103.04, for a total value of $721,280.00.

Palomar Trading Down 1.6 %

Shares of PLMR opened at $107.84 on Thursday. The business’s 50 day moving average is $106.86 and its 200 day moving average is $98.33. Palomar Holdings, Inc. has a 12-month low of $57.55 and a 12-month high of $112.90. The company has a market capitalization of $2.85 billion, a PE ratio of 25.62 and a beta of 0.38.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.20. Palomar had a net margin of 21.55% and a return on equity of 19.65%. The firm had revenue of $148.50 million for the quarter, compared to analysts’ expectations of $134.72 million. During the same quarter last year, the business posted $0.80 earnings per share. Equities research analysts predict that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.

Institutional Trading of Palomar

Hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Palomar during the third quarter valued at about $25,000. GAMMA Investing LLC boosted its stake in Palomar by 48.6% during the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after buying an additional 125 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Palomar by 490.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $43,000 after buying an additional 378 shares in the last quarter. KBC Group NV increased its stake in Palomar by 44.9% in the 4th quarter. KBC Group NV now owns 1,045 shares of the company’s stock worth $110,000 after acquiring an additional 324 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of Palomar by 20.2% during the 3rd quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after acquiring an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Piper Sandler boosted their price target on Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Jefferies Financial Group boosted their price objective on Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods increased their target price on shares of Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $115.50.

About Palomar

Palomar Holdings, Inc, a specialty insurance company, provides property and casualty insurance to residential and businesses in the United States. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, fronting, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance.