Mac Armstrong Sells 2,791 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong sold 2,791 shares of Palomar stock in a transaction on Sunday, January 26th. The stock was sold at an average price of $101.69, for a total value of $283,816.79. Following the sale, the chief executive officer now directly owns 62,639 shares of the company’s stock, valued at $6,369,759.91. This represents a 4.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• 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 stock was 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 shares were 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 2.9 %

PLMR opened at $109.29 on Wednesday. The company has a market cap of $2.89 billion, a P/E ratio of 25.96 and a beta of 0.38. The company’s 50 day moving average is $106.96 and its 200-day moving average is $99.14. Palomar Holdings, Inc. has a 1-year low of $57.55 and a 1-year high of $112.90.

Palomar (NASDAQ:PLMR) last issued its earnings results on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.20. The firm had revenue of $148.50 million for 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 quarter last year, the business posted $0.80 earnings per share. On average, equities analysts forecast that Palomar Holdings, Inc. will post 4.33 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PLMR shares. Piper Sandler upped their target price on Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. increased their price objective on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods boosted their target price on shares of Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, Jefferies Financial Group upped their price target on shares of Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Palomar currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

Institutional Investors Weigh In On Palomar

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Palomar by 3.0% during the third quarter. State Street Corp now owns 1,097,702 shares of the company’s stock valued at $103,919,000 after purchasing an additional 32,151 shares in the last quarter. Geode Capital Management LLC boosted its position in Palomar by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock worth $56,822,000 after buying an additional 18,335 shares during the period. JPMorgan Chase & Co. grew its holdings in Palomar by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company’s stock worth $12,133,000 after acquiring an additional 11,140 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Palomar by 58.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 32,837 shares of the company’s stock valued at $3,109,000 after acquiring an additional 12,147 shares during the period. Finally, HighTower Advisors LLC bought a new position in shares of Palomar during the third quarter valued at $1,711,000. Institutional investors own 90.25% of the company’s stock.

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.