Mac Armstrong, the chief executive officer and chairman of Palomar Holdings, Inc. (NASDAQ:PLMR), executed sales of 3,500 shares of common stock on March 23, 2026. The transactions were carried out in a series of trades with prices ranging from $118.334 to $121.74, producing aggregate proceeds of $422,027.
The breakdown of the sales, which were of common stock held indirectly by the Armstrong Family Trust, is as follows: 400 shares at a weighted average price of $118.334; 500 shares at $119.468; 1,622 shares at $120.7757; and 978 shares at $121.74.
After the disposition, Armstrong's direct holdings in Palomar total 99,006 shares. That direct stake includes 2,754 shares obtained through the Palomar Holdings, Inc. 2019 Employee Stock Purchase Plan (ESPP). Separately, the Armstrong Family Trust continues to own 339,888 shares indirectly.
The insider sale occurred while Palomar’s stock was trading at $121.84, a level that corresponds to a market capitalization of $3.25 billion for the specialty insurance company. Investment analysis from InvestingPro cited in company commentary characterizes the stock as appearing undervalued at current levels, noting a price-to-earnings ratio of 16.9 and a PEG ratio of 0.28. That service also references additional paid insights, including eight more tips available to PLMR subscribers.
Recent company results provide context for investor attention. Palomar reported fourth-quarter 2025 earnings that topped analyst forecasts, delivering earnings per share of $2.24 compared with the expected $2.07. Revenue for the quarter came in at $492.6 million, above the forecasted $476.63 million. Those outcomes underscore quarter-over-quarter performance and growth for the company during the period.
Despite the positive surprise on both earnings and revenue, Palomar’s share price moved lower in after-hours trading, reflecting broader market dynamics and investor reactions to the release. Market participants will weigh the insider sale alongside the financial results and valuation signals as they assess near-term prospects for the insurer.
Key information
- Insider transaction: Mac Armstrong sold 3,500 shares on March 23, 2026 for a total of $422,027.
- Ownership after sale: Armstrong directly holds 99,006 shares (including 2,754 ESPP shares); the Armstrong Family Trust indirectly holds 339,888 shares.
- Recent fundamentals: Q4 2025 EPS $2.24 vs. $2.07 expected; revenue $492.6 million vs. $476.63 million expected.
Sectors impacted - insurance; financial markets; equities trading.
Key points
- Executive sale was executed through the Armstrong Family Trust across multiple price points totaling $422,027, signaling a partial indirect liquidation of holdings.
- Palomar’s latest quarterly results beat consensus on both EPS and revenue, indicating operational momentum in the period.
- Market reaction after-hours was negative despite the earnings beat, and InvestingPro commentary flags valuation metrics that it interprets as potentially favorable.
Risks and uncertainties
- Insider selling may be interpreted differently by investors; the sale was of shares held indirectly by the Armstrong Family Trust rather than a direct disposition of all holdings.
- Short-term share-price movements can diverge from quarterly fundamentals, as demonstrated by after-hours declines despite the earnings beat.
- Valuation assessments cited (P/E and PEG) reflect third-party analysis and may not capture all company-specific or market risks impacting the insurance sector and equity investors.