Palomar Holdings, Inc. (NASDAQ:PLMR) CEO and Chairman Mac Armstrong recently sold a significant number of shares in the company, according to the latest SEC filings. The transactions, which took place on May 21, 2024, saw Armstrong selling a total of 7,000 shares of common stock at prices ranging from $82.6772 to $83.1824, netting a total of over $579,855.
The sale was conducted in multiple transactions at varying prices within the stated range. The weighted average prices for the shares sold were $82.6772 and $83.1824. The SEC filing noted that the exact number of shares sold at each price point within the range would be provided upon request.
Following the sale, the SEC filing indicated that Armstrong still holds a substantial amount of Palomar Holdings stock, with 463,595 shares owned indirectly by the Armstrong Family Trust. This latest move comes as part of the regular financial disclosures required by company executives.
Investors and followers of Palomar Holdings, a company specializing in fire, marine, and casualty insurance, often keep a close eye on insider transactions as they can provide valuable insights into the executive's confidence in the company's future prospects.
For those interested in the specific details of the stock transactions, the SEC filing is publicly available and provides comprehensive information regarding the number of shares sold at each separate price within the range.
InvestingPro Insights
As investors digest the recent insider transactions by Palomar Holdings, Inc. (NASDAQ:PLMR) CEO and Chairman Mac Armstrong, it's worth considering additional financial metrics and analyst insights that could provide a broader context to these share sales. According to InvestingPro, analysts have revised their earnings downwards for the upcoming period, which may influence investor sentiment. Additionally, Palomar is trading at a low Price to Earnings (P/E) ratio relative to its near-term earnings growth, currently standing at 23.21.
On the liquidity front, Palomar's short-term obligations exceed its liquid assets, which could be a point of consideration for risk-averse investors. Despite this, the company's cash flows have been strong enough to sufficiently cover interest payments, reflecting a degree of financial stability.
From a performance perspective, Palomar has experienced a high return over the last year, with a Year-To-Date Price Total Return of 48.88% and a 1 Year Price Total Return of 57.78%. This robust performance is also reflected in a sizeable 6 Month Price Total Return of 38.62%, indicating a significant uptrend in the stock's value.
For investors seeking more comprehensive analysis and additional insights, InvestingPro offers a range of metrics and tips. Currently, there are 11 additional InvestingPro Tips listed for Palomar Holdings, which could further inform investment decisions. To delve deeper and take advantage of these insights, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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