Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong Sells 2,791 Shares

Palomar Holdings, Inc. (NASDAQ:PLMRGet Free Report) CEO Mac Armstrong sold 2,791 shares of the business’s stock in a transaction dated Sunday, January 26th. The stock was sold at an average price of $101.69, for a total transaction of $283,816.79. Following the completion of the sale, the chief executive officer now owns 62,639 shares in the company, valued at approximately $6,369,759.91. This trade represents a 4.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Tuesday, January 21st, Mac Armstrong sold 7,000 shares of Palomar stock. The stock was sold at an average price of $109.76, for a total value 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 value 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 value 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 value of $721,280.00.

Palomar Price Performance

Shares of PLMR stock opened at $108.63 on Thursday. The company’s 50-day simple moving average is $106.96 and its two-hundred day simple moving average is $99.14. Palomar Holdings, Inc. has a one year low of $57.55 and a one year high of $112.90. The company has a market capitalization of $2.88 billion, a P/E ratio of 25.80 and a beta of 0.38.

Palomar (NASDAQ:PLMRGet Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.20. The company had revenue of $148.50 million for the quarter, compared to analysts’ expectations of $134.72 million. Palomar had a return on equity of 19.65% and a net margin of 21.55%. During the same quarter in the prior year, the firm earned $0.80 earnings per share. On average, research analysts expect that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Palomar

Several institutional investors have recently made changes to their positions in the company. Legato Capital Management LLC grew its holdings in Palomar by 8.0% during the 4th quarter. Legato Capital Management LLC now owns 5,920 shares of the company’s stock worth $625,000 after acquiring an additional 436 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Palomar by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company’s stock valued at $1,352,000 after purchasing an additional 100 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Palomar by 0.7% during the fourth quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company’s stock valued at $1,588,000 after buying an additional 100 shares during the period. Hunter Associates Investment Management LLC lifted its holdings in Palomar by 6.8% during the fourth quarter. Hunter Associates Investment Management LLC now owns 17,689 shares of the company’s stock worth $1,872,000 after buying an additional 1,120 shares during the period. Finally, Moody Aldrich Partners LLC boosted its position in Palomar by 130.4% during the 4th quarter. Moody Aldrich Partners LLC now owns 62,322 shares of the company’s stock valued at $6,581,000 after acquiring an additional 35,270 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Analyst Ratings Changes

PLMR has been the topic of several recent analyst reports. Jefferies Financial Group increased 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. Keefe, Bruyette & Woods increased their price objective 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. Piper Sandler boosted their target price on Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. increased their price target on Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $115.50.

Check Out Our Latest Stock Analysis on Palomar

Palomar Company Profile

(Get Free Report)

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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Insider Buying and Selling by Quarter for Palomar (NASDAQ:PLMR)

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