T Christopher Uchida Sells 394 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 394 shares of the firm’s stock in a transaction on Sunday, January 26th. The shares were sold at an average price of $101.69, for a total transaction of $40,065.86. Following the transaction, the chief financial officer now directly owns 16,943 shares of the company’s stock, valued at $1,722,933.67. The trade was a 2.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Wednesday, January 22nd, T Christopher Uchida sold 1,030 shares of Palomar stock. The stock was sold at an average price of $109.65, for a total value of $112,939.50.
• On Wednesday, January 1st, T Christopher Uchida sold 864 shares of Palomar stock. The shares were sold at an average price of $105.86, for a total value of $91,463.04.
• On Wednesday, December 18th, T Christopher Uchida sold 1,030 shares of Palomar stock. The stock was sold at an average price of $110.85, for a total value 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 transaction of $115,544.00.

Palomar Stock Performance

PLMR stock opened at $108.63 on Thursday. The stock’s 50 day simple moving average is $106.96 and its 200 day simple moving average is $99.14. The company has a market cap of $2.88 billion, a P/E ratio of 25.80 and a beta of 0.38. Palomar Holdings, Inc. has a fifty-two week low of $57.55 and a fifty-two week high of $112.90.

Palomar (NASDAQ:PLMR) last issued its earnings results on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.20. The company had revenue of $148.50 million for the quarter, compared to analyst estimates of $134.72 million. Palomar had a return on equity of 19.65% and a net margin of 21.55%. During the same period in the prior year, the firm earned $0.80 earnings per share. Equities analysts predict that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Legato Capital Management LLC lifted its position in Palomar by 8.0% in the 4th quarter. Legato Capital Management LLC now owns 5,920 shares of the company’s stock valued at $625,000 after acquiring an additional 436 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Palomar by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company’s stock valued at $1,352,000 after purchasing an additional 100 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Palomar by 0.7% during the fourth quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company’s stock valued at $1,588,000 after buying an additional 100 shares during the last quarter. Hunter Associates Investment Management LLC grew its holdings in Palomar by 6.8% during the fourth quarter. Hunter Associates Investment Management LLC now owns 17,689 shares of the company’s stock worth $1,872,000 after buying an additional 1,120 shares in the last quarter. Finally, Moody Aldrich Partners LLC raised its position in Palomar by 130.4% in the 4th quarter. Moody Aldrich Partners LLC now owns 62,322 shares of the company’s stock valued at $6,581,000 after buying an additional 35,270 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLMR has been the subject of several recent analyst reports. 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. Keefe, Bruyette & Woods lifted their price objective on Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Piper Sandler upped their target price on Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. lifted their target price on Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.50.

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.