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

Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) CEO Mac Armstrong sold 7,000 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $96.28, for a total transaction of $673,960.00. Following the completion of the transaction, the chief executive officer now directly owns 433,388 shares of the company's stock, valued at $41,726,596.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• 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.
• On Monday, September 23rd, Mac Armstrong sold 7,000 shares of Palomar stock. The stock was sold at an average price of $95.49, for a total transaction of $668,430.00.

Palomar Stock Performance

Shares of NASDAQ PLMR traded down $1.09 during midday trading on Tuesday, reaching $95.34. The stock had a trading volume of 57,338 shares, compared to its average volume of 163,238. The company's 50 day moving average price is $96.12 and its 200 day moving average price is $88.12. Palomar Holdings, Inc. has a twelve month low of $48.08 and a twelve month high of $103.40. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 25.16 and a beta of 0.33.

Palomar (NASDAQ:PLMR - Get Free Report) last released its earnings results on Monday, August 5th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.16. Palomar had a net margin of 21.63% and a return on equity of 20.83%. The business had revenue of $123.08 million for the quarter, compared to analyst estimates of $338.74 million. During the same quarter in the previous year, the business earned $0.72 earnings per share. Palomar's revenue for the quarter was up 47.0% on a year-over-year basis. Equities analysts forecast that Palomar Holdings, Inc. will post 4.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods upped their target price on Palomar from $96.00 to $113.00 and gave the stock an "outperform" rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. raised their price objective on shares of Palomar from $88.00 to $91.00 and gave the company a "neutral" rating in a report on Thursday, July 11th. Evercore ISI lifted their target price on shares of Palomar from $90.00 to $99.00 and gave the stock an "in-line" rating in a research report on Tuesday, August 6th. Jefferies Financial Group upped their price target on shares of Palomar from $110.00 to $113.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Finally, Piper Sandler lifted their price target on shares of Palomar from $99.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Palomar presently has an average rating of "Moderate Buy" and an average target price of $105.50.

Institutional Investors Weigh In On Palomar

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Palomar by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 2,403,520 shares of the company's stock worth $201,487,000 after buying an additional 40,453 shares during the period. Champlain Investment Partners LLC lifted its holdings in shares of Palomar by 5.5% in the first quarter. Champlain Investment Partners LLC now owns 1,340,795 shares of the company's stock valued at $112,399,000 after purchasing an additional 69,615 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Palomar by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 508,870 shares of the company's stock valued at $41,295,000 after buying an additional 66,478 shares during the last quarter. Artemis Investment Management LLP grew its holdings in Palomar by 12.9% during the third quarter. Artemis Investment Management LLP now owns 383,276 shares of the company's stock worth $36,285,000 after buying an additional 43,812 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its holdings in Palomar by 17.1% during the second quarter. Driehaus Capital Management LLC now owns 300,213 shares of the company's stock worth $24,362,000 after buying an additional 43,841 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

Palomar Company Profile

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.