Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Sells $312,798.85 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong sold 3,185 shares of Palomar stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $98.21, for a total transaction of $312,798.85. Following the completion of the transaction, the chief executive officer now directly owns 50,312 shares of the company’s stock, valued at approximately $4,941,141.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, September 23rd, Mac Armstrong sold 7,000 shares of Palomar stock. The stock was sold at an average price of $95.49, for a total transaction of $668,430.00.
• On Thursday, July 18th, Mac Armstrong sold 12,227 shares of Palomar stock. The stock was sold at an average price of $91.08, for a total transaction of $1,113,635.16.

Palomar Trading Down 0.3 %

Shares of NASDAQ:PLMR opened at $97.09 on Friday. The company has a 50 day moving average of $95.83 and a 200-day moving average of $87.83. The firm has a market cap of $2.43 billion, a P/E ratio of 25.62 and a beta of 0.33. Palomar Holdings, Inc. has a twelve month low of $48.08 and a twelve month high of $103.40.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Monday, August 5th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.16. The company had revenue of $123.08 million during the quarter, compared to analyst estimates of $338.74 million. Palomar had a net margin of 21.63% and a return on equity of 20.83%. The business’s revenue for the quarter was up 47.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 EPS. Equities research analysts forecast that Palomar Holdings, Inc. will post 4.36 EPS for the current year.

Institutional Trading of Palomar

A number of institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new stake in Palomar during the fourth quarter valued at approximately $338,000. Vanguard Group Inc. lifted its stake in Palomar by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 2,363,067 shares of the company’s stock valued at $131,150,000 after purchasing an additional 85,329 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in Palomar during the fourth quarter valued at approximately $493,000. 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 purchasing an additional 300 shares during the last quarter. Finally, Artemis Investment Management LLP acquired a new stake in Palomar during the first quarter valued at approximately $20,904,000. 90.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on PLMR shares. Keefe, Bruyette & Woods upped their price target on shares of Palomar from $96.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Truist Financial raised their price target on shares of Palomar from $100.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Evercore ISI increased their price objective on Palomar from $90.00 to $99.00 and gave the stock an “in-line” rating in a report on Tuesday, August 6th. Jefferies Financial Group lifted their target price on Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Piper Sandler increased their price target on Palomar from $99.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Three equities research 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 has a consensus rating of “Moderate Buy” and a consensus price target of $105.50.

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.