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

Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) CEO Mac Armstrong sold 5,000 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $140.10, for a total value of $700,500.00. Following the transaction, the chief executive officer directly owned 382,388 shares in the company, valued at $53,572,558.80. The trade was a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, July 15th, Mac Armstrong sold 3,191 shares of Palomar stock. The stock was sold at an average price of $143.10, for a total value of $456,632.10.
• On Monday, June 23rd, Mac Armstrong sold 5,000 shares of Palomar stock. The stock was sold at an average price of $158.14, for a total value of $790,700.00.
• On Wednesday, May 21st, Mac Armstrong sold 5,000 shares of Palomar stock. The stock was sold at an average price of $161.96, for a total value of $809,800.00.

Palomar Trading Up 0.5%

Shares of NASDAQ:PLMR traded up $0.66 during trading on Friday, reaching $132.43. The company's stock had a trading volume of 218,083 shares, compared to its average volume of 273,177. Palomar Holdings, Inc. has a 12 month low of $82.54 and a 12 month high of $175.85. The firm's 50 day simple moving average is $154.18 and its two-hundred day simple moving average is $138.08. The stock has a market capitalization of $3.54 billion, a PE ratio of 26.43 and a beta of 0.46.

Palomar (NASDAQ:PLMR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $1.87 EPS for the quarter, beating 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 firm had revenue of $174.63 million during the quarter, compared to the consensus estimate of $161.97 million. During the same quarter last year, the firm earned $1.09 EPS. Research analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PLMR shares. Jefferies Financial Group increased their price target on Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Truist Financial increased their price target on Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. Wall Street Zen lowered Palomar from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Piper Sandler increased their price target on Palomar from $171.00 to $177.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Finally, Evercore ISI raised their price objective on Palomar from $163.00 to $168.00 and gave the company an "in-line" rating in a research report on Friday, May 30th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.17.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in shares of Palomar during the fourth quarter worth approximately $3,064,000. Swiss National Bank increased its position in shares of Palomar by 5.5% during the fourth quarter. Swiss National Bank now owns 51,500 shares of the company's stock worth $5,438,000 after acquiring an additional 2,700 shares during the period. Natixis Advisors LLC increased its position in shares of Palomar by 4.5% during the fourth quarter. Natixis Advisors LLC now owns 11,110 shares of the company's stock worth $1,173,000 after acquiring an additional 475 shares during the period. Cibc World Markets Corp purchased a new position in shares of Palomar during the fourth quarter worth approximately $254,000. Finally, American Century Companies Inc. increased its position in shares of Palomar by 36.6% during the fourth quarter. American Century Companies Inc. now owns 785,419 shares of the company's stock worth $82,932,000 after acquiring an additional 210,523 shares during the period. Institutional investors own 90.25% of the company's stock.

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.