Palomar's C-Suite Exits $11M in Stock After Four Beats
Palomar Holdings' entire senior leadership team — CEO, President, COO, CFO, Chief Risk Officer, and Chief People Officer — collectively sold $11.14 million in open-market stock between June and August
Palomar's C-Suite Exits $11M in Stock After Four Beats
NEW YORK, September 13 —
Palomar Holdings, Inc. (PLMR) has beaten Wall Street EPS estimates in four consecutive quarters, most recently posting $2.36 against a $2.21 consensus in Q2 2026; its CEO sold million in shares three weeks before that report, and five other C-suite officers joined him over the same summer, bringing total net insider selling to $11.14 million against $135 in purchases.
- CEO Armstrong sold 60,741 shares on July 15, the window's single largest transaction, three weeks before Q2 earnings.
- TTM revenue $1.09 billion, up 54.7% year-over-year; $570 million trailing free cash flow; forward P/E 11.8x.
- Six insiders sold $11.14 million net; analyst consensus target $163.17, $29.51 above the current $133.66.
Months of Steady Selling
Armstrong began selling June 22 at $112 to $113 and concentrated his largest transaction on July 15, three weeks before Palomar filed its Q2 results: he exercised options covering 118,750 shares and immediately sold 60,741 at $131.66, generating just under $8 million. President Jon Christianson sold 6,863 shares on July 2, then 3,000 more on July 20. On August 18, the CFO, Chief Risk Officer, and President all filed open-market sales on the same trading day, per SEC Form 4 disclosures, a span of dates and officers that pushes the pattern beyond any single portfolio rebalancing. Armstrong sold 3,500 more on August 21.
A Business Growing at 54.7%
Palomar writes specialty property and casualty coverage, including residential and commercial earthquake policies, Hawaii hurricane insurance, flood, inland marine, and assumed reinsurance, distributed through retail agents, program administrators, and wholesale brokers without a direct sales force. The broker-led model has produced trailing twelve-month revenue of $1.09 billion alongside $570 million in free cash flow against $300 million in debt, figures available in the DCF calculator for anyone modeling the business. The four EPS beats ranged from 24.8% upside in Q3 2025 to 6.8% most recently, pointing to consistent delivery. At a forward P/E of 11.8x on trailing EPS of $7.44, the market has not assigned a premium franchise multiple.
| Ticker | Mkt cap | Fwd P/E | 52-wk |
|---|---|---|---|
| PLMR | $3.5B | 11.8x | +15.4% |
| GSHD | $2.0B | 21.2x | -28.2% |
| NMIH | $3.3B | 8.0x | +12.5% |
| PFSI | $3.7B | 6.3x | -43.4% |
| VCTR | $6.8B | 12.9x | +61.8% |
| HLNE | $6.4B | 13.1x | -34.5% |
What Q3 Earnings Change
Analyst consensus places a $163.17 target on Palomar shares, $29.51 above current levels, while short interest at 4.0% of float shows external investors are not positioned for a reversal. Whether the insider selling represents routine options-based diversification or a directional signal hinges on Q3 2026 earnings: whether the beat streak extends to a fifth quarter and at what margin. Armstrong's Form 4 filings after August 21 are the secondary watch; continued selling after the Q2 result would narrow the diversification-versus-signal question considerably. Run the free Palomar Holdings, Inc. deep-dive to track those filings as they surface.
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Palomar Holdings' entire senior leadership team — CEO, President, COO, CFO, Chief Risk Officer, and Chief People Officer — collectively sold $11.14 million in open-market stock between June and August 2026, even as the specialty insurer beat earnings estimates for a fourth consecutive quarter. Analyst consensus places a target of $163.17 on the shares, implying roughly $29 of upside from the current $133.66 price, while insiders head steadily for the exits.