Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong Sells 3,202 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong sold 3,202 shares of Palomar stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $153.04, for a total transaction of $490,034.08. Following the sale, the chief executive officer now owns 70,186 shares of the company’s stock, valued at $10,741,265.44. The trade was a 4.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Friday, March 21st, Mac Armstrong sold 5,000 shares of Palomar stock. The shares were sold at an average price of $129.72, for a total value of $648,600.00.
• 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 value 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 transaction 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 stock was sold at an average price of $109.76, for a total value of $768,320.00.

Palomar Stock Down 0.4 %

Shares of NASDAQ PLMR traded down $0.65 during midday trading on Thursday, hitting $149.79. The stock had a trading volume of 178,223 shares, compared to its average volume of 184,610. Palomar Holdings, Inc. has a 1 year low of $75.49 and a 1 year high of $155.87. The company has a market capitalization of $4.00 billion, a PE ratio of 33.44 and a beta of 0.46. The stock has a 50 day simple moving average of $130.96 and a 200-day simple moving average of $112.67.

Palomar (NASDAQ:PLMR) last released its earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, analysts expect that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Institutional Trading of Palomar

A number of hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings in Palomar by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock valued at $56,822,000 after buying an additional 18,335 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Palomar by 9.5% in the third quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company’s stock valued at $12,133,000 after purchasing an additional 11,140 shares during the period. Principal Financial Group Inc. increased its position in Palomar by 5.6% during the fourth quarter. Principal Financial Group Inc. now owns 147,540 shares of the company’s stock worth $15,579,000 after purchasing an additional 7,875 shares during the last quarter. Artemis Investment Management LLP raised its stake in Palomar by 18.7% during the fourth quarter. Artemis Investment Management LLP now owns 455,082 shares of the company’s stock worth $48,052,000 after purchasing an additional 71,806 shares during the period. Finally, Atlas Capital Advisors Inc. boosted its holdings in Palomar by 175.5% in the 4th quarter. Atlas Capital Advisors Inc. now owns 141,284 shares of the company’s stock valued at $14,918,000 after purchasing an additional 90,000 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PLMR. Truist Financial upped their target price on Palomar from $150.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday. Piper Sandler lifted their target price on shares of Palomar from $133.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Keefe, Bruyette & Woods lowered their price target on shares of Palomar from $155.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Jefferies Financial Group upped their price target on Palomar from $145.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Palomar currently has an average rating of “Moderate Buy” and a consensus target price of $148.33.

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.