By otakuyassine3@gmail.com 
Palomar Holdings, Inc. (NASDAQ:PLMR – Get Free Report) CEO Mac Armstrong sold 2,237 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $104.50, for a total transaction of $233,766.50. Following the transaction, the chief executive officer now owns 67,011 shares in the company, valued at approximately $7,002,649.50. This represents a 3.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.
Mac Armstrong also recently made the following trade(s):
- On Wednesday, January 29th, Mac Armstrong sold 2,444 shares of Palomar stock. The shares were 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 shares were sold at an average price of $103.04, for a total transaction of $721,280.00.
Palomar Trading Down 0.3 %
Shares of NASDAQ PLMR traded down $0.29 during midday trading on Tuesday, reaching $106.74. The company had a trading volume of 106,533 shares, compared to its average volume of 131,602. The business’s 50-day simple moving average is $106.89 and its 200 day simple moving average is $99.63. The stock has a market cap of $2.83 billion, a P/E ratio of 25.35 and a beta of 0.38. Palomar Holdings, Inc. has a 1 year low of $57.55 and a 1 year high of $112.90.
Palomar (NASDAQ:PLMR – Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.20. The business had revenue of $148.50 million during the quarter, compared to analysts’ expectations of $134.72 million. Palomar had a net margin of 21.55% and a return on equity of 19.65%. During the same quarter last year, the company posted $0.80 earnings per share. Analysts predict that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler raised their target price on shares of Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Keefe, Bruyette & Woods raised their target price on shares of Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Jefferies Financial Group raised 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. 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.com, Palomar presently has an average rating of “Moderate Buy” and an average target price of $115.50.
Get Our Latest Research Report on PLMR
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Palomar in the third quarter worth $25,000. Blue Trust Inc. acquired a new position in Palomar during the fourth quarter valued at $26,000. GAMMA Investing LLC lifted its position in Palomar by 48.6% during the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after purchasing an additional 125 shares during the period. Farther Finance Advisors LLC lifted its position in Palomar by 490.9% during the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $43,000 after purchasing an additional 378 shares during the period. Finally, Covestor Ltd lifted its position in Palomar by 20.2% during the third quarter. Covestor Ltd now owns 1,076 shares of the company’s stock valued at $102,000 after purchasing an additional 181 shares during the period. Hedge funds and other 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.
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