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

Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong sold 5,000 shares of Palomar stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $129.72, for a total transaction of $648,600.00. Following the sale, the chief executive officer now owns 402,388 shares in the company, valued at approximately $52,197,771.36. This represents a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 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 stock was 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 transaction of $721,280.00.

Palomar Trading Down 1.1 %

NASDAQ PLMR opened at $129.32 on Friday. The company has a fifty day simple moving average of $118.05 and a 200 day simple moving average of $106.71. Palomar Holdings, Inc. has a 12-month low of $74.09 and a 12-month high of $136.90. The company has a market cap of $3.45 billion, a P/E ratio of 28.87 and a beta of 0.33.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. JMP Securities reiterated a “market perform” rating on shares of Palomar in a research note on Thursday, February 13th. Keefe, Bruyette & Woods lifted their price objective on shares of Palomar from $152.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday. Piper Sandler lifted their price objective on shares of Palomar from $133.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Truist Financial lifted their price objective on shares of Palomar from $112.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Palomar presently has an average rating of “Moderate Buy” and a consensus price target of $127.83.

Institutional Trading of Palomar

Several hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System grew its position in Palomar by 3.8% in the 4th quarter. California State Teachers Retirement System now owns 24,444 shares of the company’s stock valued at $2,581,000 after purchasing an additional 899 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Palomar during the 4th quarter worth $5,652,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Palomar by 30.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,907 shares of the company’s stock worth $6,854,000 after acquiring an additional 14,965 shares during the last quarter. Tidal Investments LLC purchased a new position in Palomar during the 4th quarter worth $616,000. Finally, Silvercrest Asset Management Group LLC boosted its holdings in Palomar by 3.0% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 15,750 shares of the company’s stock worth $1,663,000 after acquiring an additional 462 shares during the last quarter. Institutional investors and hedge funds 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.