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

Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong sold 5,000 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $129.72, for a total value of $648,600.00. Following the completion of the sale, the chief executive officer now directly owns 402,388 shares of the company’s stock, valued at $52,197,771.36. This represents a 1.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $104.50, for a total value of $233,766.50.
• On Wednesday, January 29th, Mac Armstrong sold 2,444 shares of Palomar stock. The stock was 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 value of $283,816.79.
• On Tuesday, January 21st, Mac Armstrong sold 7,000 shares of Palomar stock. The stock was 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 stock was sold at an average price of $109.27, for a total value 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 value 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 1.1 %

PLMR stock opened at $129.32 on Friday. Palomar Holdings, Inc. has a 1-year low of $74.09 and a 1-year high of $136.90. The firm has a market cap of $3.45 billion, a P/E ratio of 28.87 and a beta of 0.33. The business’s 50 day moving average is $118.05 and its 200-day moving average is $106.66.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.13. Palomar had a return on equity of 19.76% and a net margin of 21.23%. Sell-side analysts forecast that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Analyst Ratings Changes

PLMR has been the subject of several research analyst reports. Keefe, Bruyette & Woods boosted their price objective on Palomar from $152.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday. JMP Securities restated a “market perform” rating on shares of Palomar in a research note on Thursday, February 13th. Piper Sandler boosted their price target on Palomar from $133.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Truist Financial boosted their price target on Palomar from $112.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Palomar presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.83.

Institutional Investors Weigh In On Palomar

Several large investors have recently modified their holdings of the stock. Blue Trust Inc. acquired a new position in shares of Palomar in the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC boosted its holdings in shares of Palomar by 536.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 414 shares of the company’s stock worth $43,000 after acquiring an additional 349 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Palomar by 63.2% in the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company’s stock worth $52,000 after acquiring an additional 191 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Palomar by 21.8% in the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company’s stock worth $58,000 after acquiring an additional 99 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of 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 in the last quarter. 90.25% of the stock is currently owned by institutional investors.

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.