Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Sells $648,600.00 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong sold 5,000 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $129.72, for a total transaction of $648,600.00. Following the completion of the transaction, the chief executive officer now directly owns 402,388 shares in the company, valued at $52,197,771.36. This trade represents a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, January 31st, Mac Armstrong sold 2,237 shares of Palomar stock. The stock was sold at an average price of $104.50, for a total transaction of $233,766.50.
• On Wednesday, January 29th, Mac Armstrong sold 2,444 shares of Palomar stock. The stock was sold at an average price of $108.34, for a total transaction of $264,782.96.
• On Sunday, January 26th, Mac Armstrong sold 2,791 shares of Palomar stock. The stock was 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 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 %

PLMR stock opened at $129.32 on Friday. The company’s 50 day moving average is $118.05 and its 200 day moving average is $106.71. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 28.87 and a beta of 0.33. Palomar Holdings, Inc. has a 1-year low of $74.09 and a 1-year high of $136.90.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. As a group, sell-side analysts forecast that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Piper Sandler upped 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. JMP Securities reiterated a “market perform” rating on shares of Palomar in a research report on Thursday, February 13th. Keefe, Bruyette & Woods upped 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, Truist Financial upped 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. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Palomar has a consensus rating of “Moderate Buy” and a consensus target price of $127.83.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Blue Trust Inc. purchased a new stake in Palomar in the fourth quarter worth approximately $26,000. Smartleaf Asset Management LLC boosted its stake 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 buying an additional 349 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Palomar by 63.2% in the fourth quarter. Jones Financial Companies Lllp now owns 493 shares of the company’s stock worth $52,000 after buying an additional 191 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Palomar by 21.8% in the fourth quarter. Farther Finance Advisors LLC now owns 554 shares of the company’s stock worth $58,000 after buying an additional 99 shares in the last quarter. Finally, KBC Group NV boosted its stake in Palomar by 44.9% in the fourth quarter. KBC Group NV now owns 1,045 shares of the company’s stock worth $110,000 after buying an additional 324 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors.

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.