Mac Armstrong Sells 2,237 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) CEO Mac Armstrong sold 2,237 shares of Palomar stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $104.50, for a total transaction of $233,766.50. Following the completion of the transaction, the chief executive officer now directly owns 67,011 shares in the company, valued at approximately $7,002,649.50. This trade represents a 3.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 shares were sold at an average price of $101.69, for a total value 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 shares were sold at an average price of $105.86, for a total value 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 transaction of $721,280.00.

Palomar Price Performance

Shares of NASDAQ PLMR traded down $0.81 during trading hours on Friday, reaching $109.92. The stock had a trading volume of 127,182 shares, compared to its average volume of 121,840. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 26.11 and a beta of 0.38. Palomar Holdings, Inc. has a twelve month low of $58.77 and a twelve month high of $112.90. The business's fifty day moving average is $106.95 and its two-hundred day moving average is $100.04.

Hedge Funds Weigh In On Palomar

A number of hedge funds have recently made changes to their positions in PLMR. Blue Trust Inc. acquired a new position in Palomar in the fourth quarter worth about $26,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Palomar in the 3rd quarter worth approximately $25,000. GAMMA Investing LLC lifted 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 buying an additional 125 shares during the period. Smartleaf Asset Management LLC boosted its stake in Palomar by 536.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock valued at $43,000 after buying an additional 349 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in Palomar by 490.9% in the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company's stock valued at $43,000 after acquiring an additional 378 shares during the period. Institutional investors and hedge funds own 90.25% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on PLMR. JPMorgan Chase & Co. boosted their price objective on Palomar from $93.00 to $100.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods increased their price objective on Palomar from $120.00 to $136.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. Finally, Piper Sandler boosted their target price on shares of Palomar from $119.00 to $133.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.