Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) CEO Mac Armstrong sold 5,000 shares of Palomar stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $145.41, for a total value of $727,050.00. Following the completion of the transaction, the chief executive officer now owns 397,388 shares of the company's stock, valued at approximately $57,784,189.08. This represents a 1.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Mac Armstrong also recently made the following trade(s):
- On Tuesday, April 15th, Mac Armstrong sold 3,202 shares of Palomar stock. The shares were sold at an average price of $153.04, for a total value of $490,034.08.
- On Friday, March 21st, Mac Armstrong sold 5,000 shares of Palomar stock. The shares were sold at an average price of $129.72, for a total transaction of $648,600.00.
- On Friday, January 31st, Mac Armstrong sold 2,237 shares of Palomar stock. The stock was sold at an average price of $104.50, for a total transaction of $233,766.50.
- 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.
Palomar Stock Up 2.7 %
NASDAQ PLMR opened at $152.00 on Thursday. The business's fifty day simple moving average is $134.22 and its 200-day simple moving average is $114.46. The firm has a market cap of $4.06 billion, a PE ratio of 33.93 and a beta of 0.46. Palomar Holdings, Inc. has a 52 week low of $77.17 and a 52 week high of $155.87.
Palomar (NASDAQ:PLMR - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. Research analysts expect that Palomar Holdings, Inc. will post 5.99 EPS for the current year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Palomar by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 2,574,923 shares of the company's stock worth $271,886,000 after acquiring an additional 53,123 shares during the last quarter. American Century Companies Inc. increased its position in shares of Palomar by 36.6% during the 4th quarter. American Century Companies Inc. now owns 785,419 shares of the company's stock worth $82,932,000 after purchasing an additional 210,523 shares during the last quarter. Geode Capital Management LLC raised its holdings in Palomar by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 618,840 shares of the company's stock valued at $65,358,000 after buying an additional 18,748 shares during the period. Dimensional Fund Advisors LP lifted its position in Palomar by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 561,740 shares of the company's stock valued at $59,313,000 after buying an additional 17,320 shares during the last quarter. Finally, Artemis Investment Management LLP boosted its stake in Palomar by 18.7% during the fourth quarter. Artemis Investment Management LLP now owns 455,082 shares of the company's stock worth $48,052,000 after buying an additional 71,806 shares during the period. 90.25% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have commented on the company. JPMorgan Chase & Co. raised Palomar from a "neutral" rating to an "overweight" rating and increased their target price for the company from $115.00 to $150.00 in a report on Tuesday, April 8th. JMP Securities restated a "market perform" rating on shares of Palomar in a report on Thursday, February 13th. Jefferies Financial Group lifted their target price on shares of Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Keefe, Bruyette & Woods reduced their target price on shares of Palomar from $155.00 to $145.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Finally, Truist Financial boosted their price target on shares of Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $148.33.
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About Palomar
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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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