Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Sells $283,816.79 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong sold 2,791 shares of the company’s stock in a transaction that occurred on Sunday, January 26th. The stock was sold at an average price of $101.69, for a total value of $283,816.79. Following the completion of the sale, the chief executive officer now owns 62,639 shares of the company’s stock, valued at $6,369,759.91. This trade represents a 4.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

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

Palomar Stock Down 1.1 %

PLMR stock opened at $107.44 on Friday. The company has a 50 day moving average of $106.96 and a two-hundred day moving average of $99.21. Palomar Holdings, Inc. has a 12-month low of $57.55 and a 12-month high of $112.90. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 25.52 and a beta of 0.38.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.20. Palomar had a return on equity of 19.65% and a net margin of 21.55%. The firm had revenue of $148.50 million during the quarter, compared to analysts’ expectations of $134.72 million. During the same quarter last year, the firm earned $0.80 earnings per share. On average, research analysts anticipate that Palomar Holdings, Inc. will post 4.33 EPS for the current year.

Institutional Investors Weigh In On Palomar

Several large investors have recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in Palomar in the third quarter valued at approximately $25,000. Blue Trust Inc. bought a new position in shares of Palomar during the 4th quarter valued at $26,000. GAMMA Investing LLC lifted its stake in shares of Palomar by 48.6% in the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after purchasing an additional 125 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Palomar by 490.9% in the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $43,000 after purchasing an additional 378 shares in the last quarter. Finally, Covestor Ltd increased its position in Palomar by 20.2% during the third quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after buying an additional 181 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Analyst Upgrades and Downgrades

PLMR has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their target price on shares of Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Jefferies Financial Group lifted their target price on Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Piper Sandler upped their target price on Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. increased 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Palomar presently has an average rating of “Moderate Buy” and a consensus target price 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.