Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) CEO Mac Armstrong sold 5,000 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $158.14, for a total value of $790,700.00. Following the transaction, the chief executive officer now directly owns 387,388 shares in the company, valued at approximately $61,261,538.32. This represents a 1.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Mac Armstrong also recently made the following trade(s):
- 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.
- 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 value of $727,050.00.
- On Tuesday, April 15th, Mac Armstrong sold 3,202 shares of Palomar stock. The stock was sold at an average price of $153.04, for a total value of $490,034.08.
Palomar Trading Down 5.5%
Shares of PLMR traded down $8.76 during trading hours on Wednesday, hitting $151.26. The company had a trading volume of 395,307 shares, compared to its average volume of 210,842. The company has a market capitalization of $4.04 billion, a PE ratio of 30.19 and a beta of 0.50. Palomar Holdings, Inc. has a one year low of $77.28 and a one year high of $175.85. The company's fifty day moving average price is $157.97 and its two-hundred day moving average price is $132.61.
Palomar (NASDAQ:PLMR - Get Free Report) last announced 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. The business had revenue of $174.63 million during the quarter, compared to the consensus estimate of $161.97 million. Palomar had a net margin of 21.99% and a return on equity of 20.56%. During the same period in the previous year, the company posted $1.09 earnings per share. Analysts forecast that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Blue Trust Inc. acquired a new stake in Palomar in the fourth quarter valued at approximately $26,000. Nisa Investment Advisors LLC lifted its holdings in shares of 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 purchasing an additional 202 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Palomar during the 1st quarter valued at $46,000. TCTC Holdings LLC boosted its position in shares of Palomar by 116.5% in the 1st quarter. TCTC Holdings LLC now owns 381 shares of the company's stock worth $52,000 after purchasing an additional 205 shares in the last quarter. Finally, NBC Securities Inc. purchased a new position in Palomar during the 1st quarter worth $53,000. Institutional investors own 90.25% of the company's stock.
Analysts Set New Price Targets
Several research firms recently commented on PLMR. JPMorgan Chase & Co. raised shares of Palomar from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $115.00 to $150.00 in a research note on Tuesday, April 8th. Truist Financial raised their price objective on Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a report on Tuesday, April 15th. Wall Street Zen raised Palomar from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Piper Sandler increased their price target on Palomar from $171.00 to $177.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Finally, Keefe, Bruyette & Woods cut their price target on Palomar from $155.00 to $145.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Palomar currently has a consensus rating of "Moderate Buy" and a consensus target price of $164.33.
Get Our Latest Analysis on PLMR
About Palomar
(
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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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