Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells $164,500.00 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 1,750 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $94.00, for a total value of $164,500.00. Following the transaction, the chief financial officer now directly owns 22,344 shares in the company, valued at approximately $2,100,336. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

T Christopher Uchida also recently made the following trade(s):

• On Wednesday, July 17th, T Christopher Uchida sold 1,000 shares of Palomar stock. The shares were sold at an average price of $91.30, for a total value of $91,300.00.
• On Thursday, June 20th, T Christopher Uchida sold 1,000 shares of Palomar stock. The stock was sold at an average price of $80.32, for a total value of $80,320.00.
• On Monday, May 20th, T Christopher Uchida sold 1,250 shares of Palomar stock. The stock was sold at an average price of $89.00, for a total transaction of $111,250.00.
• On Wednesday, May 15th, T Christopher Uchida sold 1,000 shares of Palomar stock. The shares were sold at an average price of $83.19, for a total transaction of $83,190.00.

Palomar Stock Performance

PLMR traded up $1.95 during trading on Wednesday, reaching $94.94. The company’s stock had a trading volume of 166,365 shares, compared to its average volume of 157,526. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 27.28 and a beta of 0.31. The company’s fifty day moving average price is $85.25 and its 200-day moving average price is $79.10. Palomar Holdings, Inc. has a 52-week low of $48.08 and a 52-week high of $96.44.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Monday, August 5th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.16. The firm had revenue of $123.08 million for the quarter, compared to the consensus estimate of $338.74 million. Palomar had a return on equity of 19.94% and a net margin of 21.78%. The company’s revenue for the quarter was up 47.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 earnings per share. Equities analysts predict that Palomar Holdings, Inc. will post 4.18 earnings per share for the current year.

Analyst Ratings Changes

PLMR has been the topic of several research reports. JMP Securities reissued a “market perform” rating on shares of Palomar in a research report on Monday, April 15th. JPMorgan Chase & Co. boosted their price target on Palomar from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Keefe, Bruyette & Woods increased their price objective on Palomar from $93.00 to $96.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 29th. Piper Sandler lifted their target price on Palomar from $99.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Evercore ISI upped their price target on Palomar from $90.00 to $99.00 and gave the stock an “in-line” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.50.

Hedge Funds Weigh In On Palomar

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Palomar by 1.7% during the first quarter. Vanguard Group Inc. now owns 2,403,520 shares of the company’s stock worth $201,487,000 after buying an additional 40,453 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in shares of Palomar by 5.5% during the 1st quarter. Champlain Investment Partners LLC now owns 1,340,795 shares of the company’s stock worth $112,399,000 after acquiring an additional 69,615 shares in the last quarter. Stephens Investment Management Group LLC grew its holdings in shares of Palomar by 11.3% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,076,606 shares of the company’s stock worth $59,752,000 after acquiring an additional 109,261 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Palomar by 1.0% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 954,290 shares of the company’s stock valued at $52,963,000 after purchasing an additional 9,462 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its holdings in Palomar by 6.3% during the fourth quarter. Westfield Capital Management Co. LP now owns 460,545 shares of the company’s stock worth $25,560,000 after purchasing an additional 27,199 shares during the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

About Palomar

Palomar Holdings, Inc, a specialty insurance company, provides property and casualty insurance to residential and businesses in the United States. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, fronting, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance.