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

Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong sold 5,000 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $129.72, for a total value of $648,600.00. Following the sale, the chief executive officer now directly owns 402,388 shares of the company’s stock, valued at approximately $52,197,771.36. This represents a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 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 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 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 value of $721,280.00.

Palomar Trading Down 1.1 %

Palomar stock opened at $129.32 on Monday. The stock has a market cap of $3.45 billion, a PE ratio of 28.87 and a beta of 0.33. The stock has a 50-day moving average price of $118.05 and a 200 day moving average price of $106.78. Palomar Holdings, Inc. has a 52 week low of $74.09 and a 52 week high of $136.90.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.13. Palomar had a return on equity of 19.76% and a net margin of 21.23%. On average, equities analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Institutional Trading of Palomar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLMR. American Century Companies Inc. increased its position in Palomar by 36.6% during the 4th quarter. American Century Companies Inc. now owns 785,419 shares of the company’s stock worth $82,932,000 after purchasing an additional 210,523 shares in the last quarter. Norges Bank acquired a new stake in Palomar in the 4th quarter worth about $20,637,000. Price T Rowe Associates Inc. MD boosted its stake in Palomar by 39.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 432,060 shares of the company’s stock worth $45,622,000 after buying an additional 122,057 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Palomar in the 3rd quarter worth about $10,994,000. Finally, Freestone Grove Partners LP acquired a new stake in Palomar in the 4th quarter worth about $11,774,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.