Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Sells $648,600.00 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong sold 5,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 402,388 shares of the company’s stock, valued at approximately $52,197,771.36. The trade was a 1.23 % decrease in their position. The sale was disclosed in a filing with the SEC, 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 shares were 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 shares were 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 shares were 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 shares were 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 Stock Down 1.1 %

Shares of Palomar stock opened at $129.32 on Monday. The firm has a market capitalization of $3.45 billion, a P/E ratio of 28.87 and a beta of 0.33. Palomar Holdings, Inc. has a 52 week low of $74.09 and a 52 week high of $136.90. The firm’s 50 day moving average is $118.05 and its two-hundred day moving average is $106.78.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 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%. As a group, research analysts expect that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Palomar

Several large investors have recently modified their holdings of the company. California State Teachers Retirement System boosted its holdings in shares of Palomar by 3.8% in the fourth quarter. California State Teachers Retirement System now owns 24,444 shares of the company’s stock valued at $2,581,000 after acquiring an additional 899 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Palomar in the fourth quarter valued at approximately $5,652,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Palomar by 30.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,907 shares of the company’s stock valued at $6,854,000 after acquiring an additional 14,965 shares during the period. Tidal Investments LLC acquired a new stake in shares of Palomar during the fourth quarter worth $616,000. Finally, Silvercrest Asset Management Group LLC lifted its holdings in shares of Palomar by 3.0% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 15,750 shares of the company’s stock worth $1,663,000 after purchasing an additional 462 shares during the period. 90.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on PLMR shares. Piper Sandler boosted their price target on shares of Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. JMP Securities restated a “market perform” rating on shares of Palomar in a research note on Thursday, February 13th. Keefe, Bruyette & Woods upped their target price on shares of Palomar from $152.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Truist Financial upped their target price on shares of Palomar from $112.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $127.83.

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.