Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong Sells 3,185 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong sold 3,185 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $98.21, for a total transaction of $312,798.85. Following the completion of the sale, the chief executive officer now directly owns 50,312 shares of the company’s stock, valued at approximately $4,941,141.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, September 23rd, Mac Armstrong sold 7,000 shares of Palomar stock. The shares were sold at an average price of $95.49, for a total value of $668,430.00.
• On Thursday, July 18th, Mac Armstrong sold 12,227 shares of Palomar stock. The stock was sold at an average price of $91.08, for a total value of $1,113,635.16.

Palomar Stock Performance

Shares of PLMR stock opened at $98.02 on Thursday. Palomar Holdings, Inc. has a fifty-two week low of $48.08 and a fifty-two week high of $103.40. The company has a 50 day moving average price of $95.60 and a 200 day moving average price of $87.66. The stock has a market capitalization of $2.44 billion, a P/E ratio of 28.17 and a beta of 0.33.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Monday, August 5th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.09 by $0.16. Palomar had a net margin of 21.63% and a return on equity of 20.83%. The business had revenue of $123.08 million during the quarter, compared to the consensus estimate of $338.74 million. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The company’s quarterly revenue was up 47.0% compared to the same quarter last year. On average, research analysts forecast that Palomar Holdings, Inc. will post 4.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in Palomar by 48.6% in the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after purchasing an additional 125 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Palomar during the second quarter worth about $49,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Palomar during the first quarter worth approximately $59,000. Advisors Asset Management Inc. raised its holdings in Palomar by 137.1% in the first quarter. Advisors Asset Management Inc. now owns 735 shares of the company’s stock valued at $62,000 after acquiring an additional 425 shares in the last quarter. Finally, Atwood & Palmer Inc. lifted its stake in Palomar by 66.7% in the first quarter. Atwood & Palmer Inc. now owns 750 shares of the company’s stock worth $63,000 after acquiring an additional 300 shares during the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PLMR. Keefe, Bruyette & Woods raised their price objective on Palomar from $96.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Evercore ISI lifted their price target on shares of Palomar from $90.00 to $99.00 and gave the company an “in-line” rating in a research report on Tuesday, August 6th. Truist Financial boosted their price target on shares of Palomar from $100.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Piper Sandler increased their price objective on shares of Palomar from $99.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. boosted their target price on Palomar from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $105.50.

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.