Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) CEO Mac Armstrong sold 7,000 shares of the stock in a transaction dated Monday, October 21st. The stock was 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 of the company's stock, valued at $41,726,596.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Mac Armstrong also recently made the following trade(s):
- On Tuesday, October 15th, Mac Armstrong sold 3,185 shares of Palomar stock. The stock was 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 stock was sold at an average price of $95.49, for a total transaction of $668,430.00.
Palomar Stock Performance
NASDAQ:PLMR opened at $95.34 on Wednesday. The company has a market capitalization of $2.38 billion, a PE ratio of 25.16 and a beta of 0.33. The company has a 50 day simple moving average of $96.12 and a two-hundred day simple moving average of $88.12. Palomar Holdings, Inc. has a fifty-two week low of $48.08 and a fifty-two week high of $103.40.
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Palomar (NASDAQ:PLMR - Get Free Report) last released its earnings results on Monday, August 5th. The company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.16. The business had revenue of $123.08 million during the quarter, compared to the consensus estimate of $338.74 million. Palomar had a net margin of 21.63% and a return on equity of 20.83%. The company's revenue for the quarter was up 47.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 EPS. Research analysts predict that Palomar Holdings, Inc. will post 4.35 EPS for the current year.
Analyst Upgrades and Downgrades
PLMR has been the subject of a number of research reports. Truist Financial increased their target price on shares of Palomar from $100.00 to $112.00 and gave the stock a "buy" rating in a report on Thursday, August 8th. Keefe, Bruyette & Woods increased their target price on shares of Palomar from $96.00 to $113.00 and gave the stock an "outperform" rating in a report on Tuesday, August 13th. Jefferies Financial Group upped their price objective on Palomar from $110.00 to $113.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Piper Sandler upped their price objective on Palomar from $99.00 to $105.00 and gave the company an "overweight" rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price objective on Palomar from $88.00 to $91.00 and gave the company a "neutral" rating in a research note on Thursday, July 11th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $105.50.
Read Our Latest Report on Palomar
Institutional Trading of Palomar
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Palomar by 1.7% during the 1st 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 period. Champlain Investment Partners LLC grew its position in shares of Palomar by 5.5% during the 1st quarter. Champlain Investment Partners LLC now owns 1,340,795 shares of the company's stock worth $112,399,000 after buying an additional 69,615 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Palomar by 15.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 508,870 shares of the company's stock worth $41,295,000 after buying an additional 66,478 shares during the period. Artemis Investment Management LLP grew its position in shares of Palomar by 12.9% during the 3rd quarter. Artemis Investment Management LLP now owns 383,276 shares of the company's stock worth $36,285,000 after buying an additional 43,812 shares during the period. Finally, Driehaus Capital Management LLC grew its position in shares of Palomar by 17.1% during the 2nd quarter. Driehaus Capital Management LLC now owns 300,213 shares of the company's stock worth $24,362,000 after buying an additional 43,841 shares during the period. Institutional investors and hedge funds own 90.25% of the company's stock.
About Palomar
(
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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