Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong Sells 7,000 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) CEO Mac Armstrong sold 7,000 shares of the firm's stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $80.03, for a total transaction of $560,210.00. Following the transaction, the chief executive officer now directly owns 468,388 shares of the company's stock, valued at $37,485,091.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, March 21st, Mac Armstrong sold 7,000 shares of Palomar stock. The shares were sold at an average price of $82.62, for a total transaction of $578,340.00.
• On Thursday, February 29th, Mac Armstrong sold 7,000 shares of Palomar stock. The shares were sold at an average price of $75.75, for a total transaction of $530,250.00.
• On Wednesday, January 31st, Mac Armstrong sold 1,541 shares of Palomar stock. The shares were sold at an average price of $59.19, for a total transaction of $91,211.79.
• On Saturday, January 27th, Mac Armstrong sold 952 shares of Palomar stock. The shares were sold at an average price of $60.13, for a total transaction of $57,243.76.

Palomar Stock Down 0.5 %

PLMR traded down $0.43 on Wednesday, reaching $81.38. 88,180 shares of the company traded hands, compared to its average volume of 157,147. Palomar Holdings, Inc. has a one year low of $46.09 and a one year high of $86.25. The firm has a fifty day simple moving average of $77.77 and a two-hundred day simple moving average of $64.70. The company has a market cap of $2.03 billion, a P/E ratio of 26.12 and a beta of 0.21.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its earnings results on Wednesday, February 14th. The company reported $0.94 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.09. The business had revenue of $102.35 million for the quarter, compared to the consensus estimate of $95.07 million. Palomar had a net margin of 21.07% and a return on equity of 19.35%. On average, equities analysts forecast that Palomar Holdings, Inc. will post 3.84 earnings per share for the current year.

Institutional Trading of Palomar

A number of institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new stake in Palomar in the 1st quarter worth approximately $4,417,000. Diversified Trust Co boosted its stake in Palomar by 35.7% in the 1st quarter. Diversified Trust Co now owns 11,400 shares of the company's stock worth $956,000 after purchasing an additional 3,000 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in Palomar in the 1st quarter worth approximately $20,904,000. Atwood & Palmer Inc. boosted its stake in Palomar by 66.7% in the 1st quarter. Atwood & Palmer Inc. now owns 750 shares of the company's stock worth $63,000 after purchasing an additional 300 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Palomar during the 4th quarter valued at approximately $493,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on PLMR. JPMorgan Chase & Co. lowered shares of Palomar from an "overweight" rating to a "neutral" rating and increased their price objective for the company from $79.00 to $85.00 in a research report on Monday, April 8th. Jefferies Financial Group upgraded shares of Palomar from a "hold" rating to a "buy" rating and raised their target price for the stock from $78.00 to $88.00 in a report on Thursday, March 14th. Piper Sandler raised their target price on shares of Palomar from $80.00 to $89.00 and gave the stock an "overweight" rating in a report on Monday, April 1st. Evercore ISI raised their target price on shares of Palomar from $68.00 to $86.00 and gave the stock an "in-line" rating in a report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Palomar from $88.00 to $89.00 and gave the stock an "outperform" rating in a report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $87.50.

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.

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