Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong Sells 5,000 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $161.96, for a total transaction of $809,800.00. Following the transaction, the chief executive officer now owns 392,388 shares in the company, valued at approximately $63,551,160.48. The trade was a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, April 21st, Mac Armstrong sold 5,000 shares of Palomar stock. The stock was sold at an average price of $145.41, for a total transaction of $727,050.00.
• On Tuesday, April 15th, Mac Armstrong sold 3,202 shares of Palomar stock. The shares were sold at an average price of $153.04, for a total transaction of $490,034.08.
• On Friday, March 21st, Mac Armstrong sold 5,000 shares of Palomar stock. The stock was sold at an average price of $129.72, for a total transaction of $648,600.00.

Palomar Trading Up 1.5%

PLMR stock opened at $161.54 on Thursday. Palomar Holdings, Inc. has a 1-year low of $77.28 and a 1-year high of $165.00. The firm has a market cap of $4.32 billion, a PE ratio of 36.06 and a beta of 0.51. The business’s 50-day moving average price is $145.73 and its two-hundred day moving average price is $122.74.

Palomar (NASDAQ:PLMR) last released its quarterly earnings results on Monday, May 5th. The company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.26. Palomar had a return on equity of 19.76% and a net margin of 21.23%. The company had revenue of $174.63 million for the quarter, compared to analyst estimates of $161.97 million. During the same quarter last year, the firm posted $1.09 earnings per share. On average, analysts forecast that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. JMP Securities reissued a “market perform” rating on shares of Palomar in a research note on Thursday, February 13th. Piper Sandler increased their target price on Palomar from $133.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. upgraded Palomar from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $115.00 to $150.00 in a report on Tuesday, April 8th. Jefferies Financial Group boosted their target price on Palomar from $145.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Finally, Truist Financial increased their price target on shares of Palomar from $150.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Palomar presently has an average rating of “Moderate Buy” and an average target price of $148.33.

Institutional Trading of Palomar

A number of large investors have recently bought and sold shares of the business. Blue Trust Inc. bought a new position in Palomar in the fourth quarter valued at approximately $26,000. Nisa Investment Advisors LLC raised its holdings in shares of Palomar by 185.3% during the first quarter. Nisa Investment Advisors LLC now owns 311 shares of the company’s stock worth $43,000 after acquiring an additional 202 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Palomar during the first quarter worth $46,000. TCTC Holdings LLC lifted its position in Palomar by 116.5% in the 1st quarter. TCTC Holdings LLC now owns 381 shares of the company’s stock valued at $52,000 after acquiring an additional 205 shares in the last quarter. Finally, NBC Securities Inc. bought a new stake in Palomar in the 1st quarter valued at $53,000. 90.25% of the stock is 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.