Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Sells $673,960.00 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong sold 7,000 shares of Palomar stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $96.28, for a total transaction of $673,960.00. Following the completion of the transaction, the chief executive officer now directly owns 433,388 shares in the company, valued at approximately $41,726,596.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• 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 transaction of $312,798.85.
• On Monday, September 23rd, Mac Armstrong sold 7,000 shares of Palomar stock. The shares were sold at an average price of $95.49, for a total transaction of $668,430.00.

Palomar Trading Down 1.1 %

Shares of NASDAQ:PLMR traded down $1.09 on Tuesday, hitting $95.34. The company had a trading volume of 57,338 shares, compared to its average volume of 163,238. Palomar Holdings, Inc. has a 1-year low of $48.08 and a 1-year high of $103.40. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 24.94 and a beta of 0.33. The stock has a 50 day moving average price of $96.00 and a 200 day moving average price of $88.02.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Monday, August 5th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.09 by $0.16. Palomar had a net margin of 21.63% and a return on equity of 20.83%. The firm had revenue of $123.08 million for the quarter, compared to the consensus estimate of $338.74 million. During the same period in the previous year, the company earned $0.72 earnings per share. The company’s quarterly revenue was up 47.0% on a year-over-year basis. Sell-side analysts anticipate that Palomar Holdings, Inc. will post 4.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Palomar

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Palomar by 1.7% in the first quarter. Vanguard Group Inc. now owns 2,403,520 shares of the company’s stock valued at $201,487,000 after purchasing an additional 40,453 shares during the last quarter. Champlain Investment Partners LLC grew its stake in shares of Palomar by 5.5% in the first quarter. Champlain Investment Partners LLC now owns 1,340,795 shares of the company’s stock valued at $112,399,000 after acquiring an additional 69,615 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Palomar by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 508,870 shares of the company’s stock valued at $41,295,000 after acquiring an additional 66,478 shares in the last quarter. Artemis Investment Management LLP grew its stake in shares of Palomar by 12.9% in the third quarter. Artemis Investment Management LLP now owns 383,276 shares of the company’s stock valued at $36,285,000 after acquiring an additional 43,812 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its stake in shares of Palomar by 17.1% in the second quarter. Driehaus Capital Management LLC now owns 300,213 shares of the company’s stock valued at $24,362,000 after acquiring an additional 43,841 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PLMR. JPMorgan Chase & Co. boosted their price objective on shares of Palomar from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Piper Sandler boosted their price objective on shares of Palomar from $99.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Palomar from $96.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Jefferies Financial Group upped their price target on shares of Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI upped their price target on shares of Palomar from $90.00 to $99.00 and gave the stock an “in-line” rating in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Palomar presently has a consensus rating of “Moderate Buy” and an average target price of $105.50.

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.