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

Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong sold 7,000 shares of Palomar stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $103.04, for a total value of $721,280.00. Following the transaction, the chief executive officer now owns 419,388 shares in the company, valued at $43,213,739.52. This represents a 1.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, October 21st, Mac Armstrong sold 7,000 shares of Palomar stock. The stock was sold at an average price of $96.28, for a total value of $673,960.00.
• On Tuesday, October 15th, Mac Armstrong sold 3,185 shares of Palomar stock. The shares were sold at an average price of $98.21, for a total value of $312,798.85.

Palomar Stock Down 0.8 %

NASDAQ PLMR opened at $104.39 on Friday. The stock has a market capitalization of $2.76 billion, a PE ratio of 24.80 and a beta of 0.36. Palomar Holdings, Inc. has a 12-month low of $54.50 and a 12-month high of $112.90. The company has a 50 day moving average price of $102.81 and a two-hundred day moving average price of $95.27.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.20. The business had revenue of $148.50 million during the quarter, compared to analyst estimates of $134.72 million. Palomar had a net margin of 21.55% and a return on equity of 19.65%. During the same quarter in the previous year, the business earned $0.80 EPS. As a group, equities analysts anticipate that Palomar Holdings, Inc. will post 4.33 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on PLMR shares. JPMorgan Chase & Co. increased their price target on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods increased their target price on shares of Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Jefferies Financial Group lifted their target price on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Piper Sandler upped their price target on shares of Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.67.

Institutional Trading of Palomar

Several large investors have recently made changes to their positions in PLMR. Louisiana State Employees Retirement System lifted its holdings in Palomar by 2.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 12,500 shares of the company’s stock worth $1,014,000 after purchasing an additional 300 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Palomar by 214.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 165,685 shares of the company’s stock valued at $13,445,000 after purchasing an additional 112,996 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Palomar by 8.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,833 shares of the company’s stock worth $636,000 after buying an additional 594 shares during the last quarter. Atlas Capital Advisors LLC boosted its holdings in shares of Palomar by 167.7% during the 2nd quarter. Atlas Capital Advisors LLC now owns 137,284 shares of the company’s stock worth $11,141,000 after buying an additional 86,000 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Palomar in the 2nd quarter valued at $49,000. Institutional investors own 90.25% of the company’s stock.

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.