Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Sells $456,632.10 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) CEO Mac Armstrong sold 3,191 shares of the company's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $143.10, for a total transaction of $456,632.10. Following the completion of the transaction, the chief executive officer owned 73,245 shares in the company, valued at approximately $10,481,359.50. The trade was a 4.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, June 23rd, Mac Armstrong sold 5,000 shares of Palomar stock. The shares were sold at an average price of $158.14, for a total transaction of $790,700.00.
• On Wednesday, May 21st, Mac Armstrong sold 5,000 shares of Palomar stock. The shares were sold at an average price of $161.96, for a total transaction of $809,800.00.
• On Monday, April 21st, Mac Armstrong sold 5,000 shares of Palomar stock. The shares were sold at an average price of $145.41, for a total transaction of $727,050.00.

Palomar Trading Up 1.5%

NASDAQ PLMR traded up $2.19 on Wednesday, reaching $144.07. 337,569 shares of the stock were exchanged, compared to its average volume of 222,720. Palomar Holdings, Inc. has a one year low of $82.55 and a one year high of $175.85. The firm has a market capitalization of $3.85 billion, a PE ratio of 28.76 and a beta of 0.46. The company's 50-day simple moving average is $156.79 and its two-hundred day simple moving average is $136.69.

Palomar (NASDAQ:PLMR - Get Free Report) last released its 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 net margin of 21.99% and a return on equity of 20.56%. The company had revenue of $174.63 million for the quarter, compared to analysts' expectations of $161.97 million. During the same quarter last year, the business earned $1.09 EPS. Sell-side analysts forecast that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Palomar

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Maseco LLP bought a new stake in Palomar during the 2nd quarter worth approximately $45,000. Nisa Investment Advisors LLC grew its holdings in Palomar by 185.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 311 shares of the company's stock valued at $43,000 after buying an additional 202 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in Palomar during the 1st quarter valued at approximately $46,000. TCTC Holdings LLC grew its holdings in Palomar by 116.5% during the 1st quarter. TCTC Holdings LLC now owns 381 shares of the company's stock valued at $52,000 after buying an additional 205 shares in the last quarter. Finally, NBC Securities Inc. purchased a new stake in Palomar during the 1st quarter valued at approximately $53,000. Institutional investors own 90.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PLMR shares. Jefferies Financial Group upped their target price on shares of Palomar from $145.00 to $168.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Piper Sandler raised their price objective on shares of Palomar from $171.00 to $177.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Keefe, Bruyette & Woods dropped their price objective on shares of Palomar from $205.00 to $204.00 and set an "outperform" rating on the stock in a report on Monday, June 30th. Evercore ISI raised their price objective on shares of Palomar from $163.00 to $168.00 and gave the stock an "in-line" rating in a report on Friday, May 30th. Finally, Truist Financial upped their price objective on Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Palomar has an average rating of "Moderate Buy" and a consensus target price of $174.17.

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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