Mac Armstrong Sells 3,500 Shares of Palomar (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CEO Mac Armstrong sold 3,500 shares of Palomar stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $130.77, for a total value of $457,695.00. Following the transaction, the chief executive officer directly owned 336,388 shares in the company, valued at $43,989,458.76. The trade was a 1.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 15th, Mac Armstrong sold 3,197 shares of Palomar stock. The stock was sold at an average price of $129.46, for a total value of $413,883.62.
• On Monday, March 23rd, Mac Armstrong sold 3,500 shares of Palomar stock. The stock was sold at an average price of $120.58, for a total value of $422,030.00.
• On Thursday, February 12th, Mac Armstrong sold 5,000 shares of Palomar stock. The stock was sold at an average price of $122.60, for a total value of $613,000.00.
• On Saturday, January 31st, Mac Armstrong sold 2,205 shares of Palomar stock. The stock was sold at an average price of $121.74, for a total value of $268,436.70.
• On Saturday, January 31st, Mac Armstrong sold 2,205 shares of Palomar stock. The stock was sold at an average price of $121.74, for a total value of $268,436.70.
• On Thursday, January 29th, Mac Armstrong sold 5,399 shares of Palomar stock. The stock was sold at an average price of $122.04, for a total value of $658,893.96.
• On Thursday, January 29th, Mac Armstrong sold 5,399 shares of Palomar stock. The stock was sold at an average price of $122.04, for a total value of $658,893.96.
• On Wednesday, January 28th, Mac Armstrong sold 11,484 shares of Palomar stock. The stock was sold at an average price of $119.88, for a total value of $1,376,701.92.

Palomar Trading Down 0.3%

Shares of PLMR opened at $128.70 on Friday. The company has a market capitalization of $3.41 billion, a PE ratio of 17.92 and a beta of 0.54. Palomar Holdings, Inc. has a 12 month low of $107.75 and a 12 month high of $175.85. The stock’s 50-day moving average price is $124.22 and its two-hundred day moving average price is $124.39.

Palomar (NASDAQ:PLMR) last announced its earnings results on Wednesday, February 11th. The company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.06 by $0.18. The firm had revenue of $253.36 million for the quarter, compared to the consensus estimate of $204.58 million. Palomar had a return on equity of 22.77% and a net margin of 22.50%.The business’s quarterly revenue was up 62.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.52 EPS. Equities research analysts predict that Palomar Holdings, Inc. will post 8.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PLMR. Royal Bank of Canada raised its stake in Palomar by 49.1% during the 1st quarter. Royal Bank of Canada now owns 2,956 shares of the company’s stock worth $406,000 after buying an additional 974 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Palomar by 5.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,427 shares of the company’s stock worth $2,115,000 after buying an additional 791 shares during the period. NewEdge Advisors LLC acquired a new position in Palomar during the 1st quarter worth approximately $66,000. United Services Automobile Association acquired a new position in Palomar during the 1st quarter worth approximately $223,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Palomar by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,661 shares of the company’s stock worth $9,960,000 after buying an additional 7,754 shares during the period. 90.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PLMR shares. Zacks Research raised Palomar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 16th. Weiss Ratings raised Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price objective on Palomar from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Keefe, Bruyette & Woods boosted their price objective on Palomar from $183.00 to $186.00 and gave the company an “outperform” rating in a research note on Tuesday, April 7th. Finally, Evercore started coverage on Palomar in a research note on Monday, February 9th. They issued an “outperform” rating and a $150.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $161.75.

Palomar Company Profile

Palomar Holdings, Inc (NASDAQ: PLMR) is a specialty insurance holding company focused on providing medical stop-loss coverage and related administrative services to self-funded employer health plans in the United States. The firm operates through two primary business segments—Medical Stop-Loss and Specialty Program Management—to deliver tailored risk protection and comprehensive program administration.

In its Medical Stop-Loss segment, Palomar underwrites excess and aggregate stop-loss policies designed to shield self-insured employers from catastrophic medical claims that exceed pre-determined retention levels.