Mac Armstrong Sells 2,237 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong sold 2,237 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $104.50, for a total value of $233,766.50. Following the sale, the chief executive officer now directly owns 67,011 shares of the company’s stock, valued at approximately $7,002,649.50. This trade represents a 3.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• 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 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 transaction 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 transaction of $344,637.58.
• On Wednesday, January 1st, Mac Armstrong sold 4,170 shares of Palomar stock. The stock was 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 value of $721,280.00.

Palomar Trading Up 2.5 %

Palomar stock opened at $109.37 on Thursday. The stock has a 50 day moving average of $106.85 and a 200-day moving average of $99.76. The stock has a market cap of $2.90 billion, a P/E ratio of 25.98 and a beta of 0.38. Palomar Holdings, Inc. has a 52 week low of $57.63 and a 52 week high of $112.90.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.20. The company had revenue of $148.50 million during the quarter, compared to analyst estimates of $134.72 million. Palomar had a net margin of 21.55% and a return on equity of 19.65%. During the same period last year, the business earned $0.80 EPS. As a group, equities analysts predict that Palomar Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Palomar

Several large investors have recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. acquired a new stake in Palomar during the third quarter valued at approximately $25,000. Blue Trust Inc. bought a new stake in shares of Palomar in the 4th quarter valued at approximately $26,000. GAMMA Investing LLC raised its position in shares of Palomar by 48.6% during the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after acquiring an additional 125 shares in 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 during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in Palomar by 536.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 414 shares of the company’s stock worth $43,000 after purchasing an additional 349 shares during the period. Institutional investors own 90.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on PLMR. Jefferies Financial Group raised their target price on Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price objective on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler upped their target price on shares of Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus 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.