Mac Armstrong Sells 7,000 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock (2024)

Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) CEO Mac Armstrong sold 7,000 shares of the business's stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $82.62, for a total transaction of $578,340.00. Following the completion of the sale, the chief executive officer now directly owns 475,388 shares of the company's stock, valued at approximately $39,276,556.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, February 29th, Mac Armstrong sold 7,000 shares of Palomar stock. The stock was sold at an average price of $75.75, for a total transaction of $530,250.00.
• On Wednesday, January 31st, Mac Armstrong sold 1,541 shares of Palomar stock. The stock was sold at an average price of $59.19, for a total transaction of $91,211.79.
• On Saturday, January 27th, Mac Armstrong sold 952 shares of Palomar stock. The stock was sold at an average price of $60.13, for a total transaction of $57,243.76.
• On Monday, January 1st, Mac Armstrong sold 1,836 shares of Palomar stock. The stock was sold at an average price of $54.51, for a total value of $100,080.36.

Palomar Price Performance

Shares of NASDAQ:PLMR opened at $82.21 on Tuesday. The business's 50-day moving average is $69.67 and its 200-day moving average is $60.50. Palomar Holdings, Inc. has a 1 year low of $46.09 and a 1 year high of $86.25. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 26.35 and a beta of 0.21.

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Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $0.94 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.09. Palomar had a return on equity of 19.35% and a net margin of 21.07%. The business had revenue of $102.35 million for the quarter, compared to the consensus estimate of $95.07 million. Analysts anticipate that Palomar Holdings, Inc. will post 3.82 EPS for the current year.

Analyst Ratings Changes

PLMR has been the topic of a number of research reports. Truist Financial boosted their price objective on Palomar from $72.00 to $88.00 and gave the stock a "buy" rating in a research report on Friday, February 16th. Evercore ISI boosted their price objective on Palomar from $66.00 to $68.00 and gave the stock an "in-line" rating in a research report on Thursday, February 15th. Jefferies Financial Group upgraded Palomar from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $78.00 to $88.00 in a research report on Thursday, March 14th. Keefe, Bruyette & Woods lifted their target price on Palomar from $73.00 to $87.00 and gave the stock an "outperform" rating in a report on Wednesday, February 21st. Finally, TheStreet raised Palomar from a "c+" rating to a "b-" rating in a report on Tuesday, December 5th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $77.00.

Get Our Latest Research Report on PLMR

Institutional Trading of Palomar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pinebridge Investments L.P. bought a new stake in Palomar during the 2nd quarter worth approximately $25,000. UBS Group AG increased its holdings in Palomar by 7,440.0% during the 3rd quarter. UBS Group AG now owns 377 shares of the company's stock worth $32,000 after purchasing an additional 372 shares in the last quarter. Signaturefd LLC increased its holdings in Palomar by 59.4% during the 4th quarter. Signaturefd LLC now owns 593 shares of the company's stock worth $33,000 after purchasing an additional 221 shares in the last quarter. FMR LLC increased its holdings in Palomar by 89.9% during the 1st quarter. FMR LLC now owns 864 shares of the company's stock worth $48,000 after purchasing an additional 409 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Palomar in the first quarter valued at approximately $55,000. 90.25% of the stock is owned by institutional investors.

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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