Palomar Holdings, Inc. (NASDAQ:PLMR) announced that Mac Armstrong, its Chief Executive Officer and Chairman, disposed of 5,000 shares of the company's common stock on January 21, 2026. The total proceeds from these transactions amounted to $644,983, with shares selling between $127.8419 and $130.2893 each.
The sales were distributed across four separate transactions involving 1,048, 1,655, 2,256, and 41 shares respectively. Following these sales, Armstrong remains a significant shareholder, directly holding 80,314 shares. This total includes 2,652 shares acquired through Palomar's 2019 Employee Stock Purchase Plan. Additionally, Armstrong has an indirect stake of 348,388 shares held via the Armstrong Family Trust.
At the time of these sales, Palomar's stock price was near $127.83. InvestingPro's analysis categorizes the stock as undervalued, supported by a price-to-earnings ratio of 20 and a strong financial health rating.
Earlier, Palomar had reported robust financial results for the third quarter of 2025. The company's earnings per share (EPS) reached $2.01, significantly exceeding the predicted $1.57, reflecting a positive earnings surprise of 28.03%. Revenue also outperformed projections, with $597.2 million realized against an estimate of $540.07 million.
In light of these strong performance figures, Keefe, Bruyette & Woods adjusted their price target for Palomar shares, raising it from $164 to $170 while maintaining an Outperform rating. This target corresponds to 19.3 times their revised 2026 EPS forecast.
These financial developments underscore Palomar's solid market standing and have drawn attention from investment analysts. Investors may find this information valuable when assessing their portfolio strategies.