Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells $91,463.04 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 864 shares of the business’s stock in a transaction that occurred on Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total transaction of $91,463.04. Following the completion of the sale, the chief financial officer now owns 17,288 shares of the company’s stock, valued at approximately $1,830,107.68. The trade was a 4.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Wednesday, December 18th, T Christopher Uchida sold 1,030 shares of Palomar stock. The shares were sold at an average price of $110.85, for a total transaction of $114,175.50.
• On Monday, November 11th, T Christopher Uchida sold 1,111 shares of Palomar stock. The stock was sold at an average price of $104.00, for a total value of $115,544.00.
• On Tuesday, October 15th, T Christopher Uchida sold 1,030 shares of Palomar stock. The shares were sold at an average price of $97.65, for a total value of $100,579.50.

Palomar Price Performance

Palomar stock traded up $0.43 during midday trading on Friday, hitting $104.81. 74,754 shares of the company were exchanged, compared to its average volume of 92,577. Palomar Holdings, Inc. has a fifty-two week low of $54.81 and a fifty-two week high of $112.90. The company’s fifty day moving average price is $103.86 and its 200-day moving average price is $95.96. The company has a market cap of $2.77 billion, a PE ratio of 24.90 and a beta of 0.36.

Palomar (NASDAQ:PLMR) last announced its earnings results on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.20. Palomar had a net margin of 21.55% and a return on equity of 19.65%. The business had revenue of $148.50 million during the quarter, compared to the consensus estimate of $134.72 million. During the same period in the prior year, the firm earned $0.80 earnings per share. On average, analysts expect that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on PLMR shares. Piper Sandler upped their price target on Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. increased their target price on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods lifted their price target on shares of Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, Jefferies Financial Group increased their price objective on shares of Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.67.

Hedge Funds Weigh In On Palomar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PLMR. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Palomar in the third quarter worth about $25,000. GAMMA Investing LLC increased its holdings in Palomar by 48.6% during the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $36,000 after purchasing an additional 125 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Palomar by 490.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $43,000 after buying an additional 378 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Palomar during the 2nd quarter valued at approximately $49,000. Finally, Covestor Ltd grew its position in shares of Palomar by 20.2% during the third quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after buying an additional 181 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

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.