Mac Armstrong Sells 4,170 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) CEO Mac Armstrong sold 4,170 shares of the firm's stock in a transaction on Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total value of $441,436.20. Following the completion of the transaction, the chief executive officer now owns 56,936 shares of the company's stock, valued at $6,027,244.96. This trade represents a 6.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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.
• On Monday, October 21st, Mac Armstrong sold 7,000 shares of Palomar stock. The stock was sold at an average price of $96.28, for a total value of $673,960.00.
• On Tuesday, October 15th, Mac Armstrong sold 3,185 shares of Palomar stock. The stock was sold at an average price of $98.21, for a total transaction of $312,798.85.

Palomar Stock Up 0.4 %

Shares of PLMR stock traded up $0.43 during mid-day trading on Friday, hitting $104.81. 74,754 shares of the stock were exchanged, compared to its average volume of 92,577. Palomar Holdings, Inc. has a 52-week low of $54.81 and a 52-week high of $112.90. The firm has a fifty day moving average of $103.86 and a 200 day moving average of $95.96. The company has a market cap of $2.77 billion, a PE ratio of 24.90 and a beta of 0.36.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.20. The company had revenue of $148.50 million for the quarter, compared to the consensus estimate of $134.72 million. Palomar had a return on equity of 19.65% and a net margin of 21.55%. During the same quarter in the prior year, the business posted $0.80 earnings per share. Equities analysts predict that Palomar Holdings, Inc. will post 4.33 EPS for the current year.

Institutional Investors Weigh In On Palomar

A number of institutional investors have recently added to or reduced their stakes in PLMR. Whittier Trust Co. of Nevada Inc. purchased a new position in Palomar during the third quarter valued at $25,000. GAMMA Investing LLC raised its position in shares of Palomar by 48.6% during the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company's stock worth $36,000 after purchasing an additional 125 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Palomar by 490.9% in 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. International Assets Investment Management LLC acquired a new stake in Palomar in the 2nd quarter worth about $49,000. Finally, Covestor Ltd increased its stake in Palomar by 20.2% during the 3rd quarter. Covestor Ltd now owns 1,076 shares of the company's stock worth $102,000 after buying an additional 181 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PLMR shares. Jefferies Financial Group increased their price objective on shares of Palomar from $110.00 to $113.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their price objective on Palomar from $120.00 to $136.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Piper Sandler upped their target price on Palomar from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their price target on Palomar from $93.00 to $100.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Palomar presently has an average rating of "Moderate Buy" and a consensus target price of $111.67.

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.

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