Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong Sells 5,000 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) CEO Mac Armstrong sold 5,000 shares of the business's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $129.72, for a total value of $648,600.00. Following the sale, the chief executive officer now owns 402,388 shares in the company, valued at approximately $52,197,771.36. This represents a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Friday, January 31st, Mac Armstrong sold 2,237 shares of Palomar stock. The shares were sold at an average price of $104.50, for a total transaction of $233,766.50.
• On Wednesday, January 29th, Mac Armstrong sold 2,444 shares of Palomar stock. The shares were sold at an average price of $108.34, for a total value of $264,782.96.
• On Sunday, January 26th, Mac Armstrong sold 2,791 shares of Palomar stock. The stock was sold at an average price of $101.69, for a total transaction of $283,816.79.
• On Tuesday, January 21st, Mac Armstrong sold 7,000 shares of Palomar stock. The shares were sold at an average price of $109.76, for a total value of $768,320.00.
• 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 shares were sold at an average price of $103.04, for a total value of $721,280.00.

Palomar Price Performance

PLMR stock traded up $0.15 during trading hours on Tuesday, reaching $135.14. 169,367 shares of the stock were exchanged, compared to its average volume of 161,858. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 30.17 and a beta of 0.33. The firm's 50-day moving average is $118.71 and its 200-day moving average is $107.05. Palomar Holdings, Inc. has a 12 month low of $74.09 and a 12 month high of $136.90.

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Palomar (NASDAQ:PLMR - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. As a group, equities research analysts forecast that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PLMR shares. JMP Securities reiterated a "market perform" rating on shares of Palomar in a report on Thursday, February 13th. Keefe, Bruyette & Woods upped their price objective on shares of Palomar from $152.00 to $155.00 and gave the company an "outperform" rating in a research report on Friday. Truist Financial lifted their target price on Palomar from $112.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Finally, Piper Sandler boosted their target price on Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $127.83.

Institutional Investors Weigh In On Palomar

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. acquired a new stake in Palomar in the 4th quarter valued at about $26,000. Smartleaf Asset Management LLC increased its stake in shares of Palomar by 536.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock worth $43,000 after purchasing an additional 349 shares during the period. Jones Financial Companies Lllp lifted its holdings in Palomar by 63.2% during the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock worth $52,000 after purchasing an additional 191 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Palomar by 21.8% in the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company's stock valued at $58,000 after purchasing an additional 99 shares during the period. Finally, KBC Group NV grew its holdings in Palomar by 44.9% in the 4th quarter. KBC Group NV now owns 1,045 shares of the company's stock valued at $110,000 after buying an additional 324 shares in the last quarter. Institutional investors own 90.25% of the company's stock.

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.