Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong Sells 7,000 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong sold 7,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $80.03, for a total transaction of $560,210.00. Following the transaction, the chief executive officer now owns 468,388 shares of the company’s stock, valued at approximately $37,485,091.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, March 21st, Mac Armstrong sold 7,000 shares of Palomar stock. The stock was sold at an average price of $82.62, for a total transaction of $578,340.00.
• On Thursday, February 29th, Mac Armstrong sold 7,000 shares of Palomar stock. The stock was sold at an average price of $75.75, for a total transaction of $530,250.00.
• On Wednesday, January 31st, Mac Armstrong sold 1,541 shares of Palomar stock. The stock was sold at an average price of $59.19, for a total transaction of $91,211.79.
• On Saturday, January 27th, Mac Armstrong sold 952 shares of Palomar stock. The stock was sold at an average price of $60.13, for a total transaction of $57,243.76.

Palomar Trading Down 0.5 %

Shares of NASDAQ PLMR opened at $81.38 on Thursday. Palomar Holdings, Inc. has a twelve month low of $46.09 and a twelve month high of $86.25. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 26.08 and a beta of 0.21. The firm has a 50-day moving average of $78.15 and a two-hundred day moving average of $64.82.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.09. Palomar had a net margin of 21.07% and a return on equity of 19.35%. The company had revenue of $102.35 million during the quarter, compared to the consensus estimate of $95.07 million. As a group, research analysts predict that Palomar Holdings, Inc. will post 3.84 earnings per share for the current year.

Institutional Investors Weigh In On Palomar

Institutional investors and hedge funds have recently bought and sold shares of the business. New York State Common Retirement Fund lifted its stake in Palomar by 1.8% during the third quarter. New York State Common Retirement Fund now owns 10,099 shares of the company’s stock valued at $513,000 after buying an additional 182 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in Palomar by 5.3% during the third quarter. Handelsbanken Fonder AB now owns 4,210 shares of the company’s stock valued at $214,000 after buying an additional 210 shares in the last quarter. Signaturefd LLC lifted its stake in Palomar by 59.4% during the fourth quarter. Signaturefd LLC now owns 593 shares of the company’s stock valued at $33,000 after buying an additional 221 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in Palomar by 0.9% during the third quarter. Los Angeles Capital Management LLC now owns 27,529 shares of the company’s stock valued at $1,397,000 after buying an additional 256 shares in the last quarter. Finally, Atwood & Palmer Inc. lifted its stake in Palomar by 66.7% during the first quarter. Atwood & Palmer Inc. now owns 750 shares of the company’s stock valued at $63,000 after buying an additional 300 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLMR has been the subject of several research analyst reports. Jefferies Financial Group raised shares of Palomar from a “hold” rating to a “buy” rating and upped their price objective for the stock from $78.00 to $88.00 in a report on Thursday, March 14th. JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a report on Monday, April 15th. Piper Sandler upped their price objective on shares of Palomar from $80.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Truist Financial upped their price objective on shares of Palomar from $72.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, Evercore ISI upped their price objective on shares of Palomar from $68.00 to $86.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.50.

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.