Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Sells $283,816.79 in Stock

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

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 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 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 shares were sold at an average price of $103.04, for a total transaction of $721,280.00.

Palomar Stock Up 2.9 %

PLMR traded up $3.05 during trading on Tuesday, hitting $109.29. The company’s stock had a trading volume of 82,976 shares, compared to its average volume of 138,240. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 25.96 and a beta of 0.38. The firm’s 50 day moving average price is $106.96 and its two-hundred day moving average price is $99.14. Palomar Holdings, Inc. has a 12 month low of $57.55 and a 12 month high of $112.90.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.20. The business had revenue of $148.50 million for the quarter, compared to the consensus estimate of $134.72 million. Palomar had a net margin of 21.55% and a return on equity of 19.65%. During the same quarter in the prior year, the company earned $0.80 EPS. On average, sell-side analysts forecast that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.

Institutional Trading of Palomar

Institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue boosted its position in shares of Palomar by 0.7% in the 4th quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company’s stock worth $1,588,000 after purchasing an additional 100 shares during the last quarter. Hunter Associates Investment Management LLC boosted its holdings in Palomar by 6.8% during the fourth quarter. Hunter Associates Investment Management LLC now owns 17,689 shares of the company’s stock worth $1,872,000 after buying an additional 1,120 shares during the last quarter. Moody Aldrich Partners LLC grew its position in shares of Palomar by 130.4% during the 4th quarter. Moody Aldrich Partners LLC now owns 62,322 shares of the company’s stock worth $6,581,000 after buying an additional 35,270 shares during the period. KBC Group NV increased its stake in shares of Palomar by 44.9% in the 4th quarter. KBC Group NV now owns 1,045 shares of the company’s stock valued at $110,000 after acquiring an additional 324 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its position in shares of Palomar by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 7,919 shares of the company’s stock valued at $836,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analysts Set New Price Targets

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

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.