T Christopher Uchida Sells 1,111 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 1,111 shares of Palomar stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $104.00, for a total transaction of $115,544.00. Following the sale, the chief financial officer now directly owns 16,432 shares of the company’s stock, valued at $1,708,928. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, October 15th, T Christopher Uchida sold 1,030 shares of Palomar stock. The stock was sold at an average price of $97.65, for a total value of $100,579.50.
• On Friday, August 23rd, T Christopher Uchida sold 1,750 shares of Palomar stock. The shares were sold at an average price of $99.00, for a total transaction of $173,250.00.

Palomar Stock Performance

PLMR opened at $101.00 on Thursday. The stock has a market capitalization of $2.67 billion, a PE ratio of 23.99 and a beta of 0.34. The company’s 50 day simple moving average is $95.36 and its 200 day simple moving average is $89.79. Palomar Holdings, Inc. has a 1 year low of $54.50 and a 1 year high of $107.00.

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. The company had revenue of $148.50 million during the quarter, compared to the consensus estimate of $134.72 million. Palomar had a return on equity of 19.65% and a net margin of 21.55%. During the same period last year, the firm earned $0.80 earnings per share. As a group, sell-side analysts expect that Palomar Holdings, Inc. will post 4.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Palomar

A number of hedge funds have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA bought a new stake in shares of Palomar during the 3rd quarter worth about $352,000. Bridgewater Associates LP lifted its stake in Palomar by 81.7% during the third quarter. Bridgewater Associates LP now owns 17,429 shares of the company’s stock valued at $1,650,000 after buying an additional 7,835 shares in the last quarter. FMR LLC grew its position in Palomar by 39.5% during the 3rd quarter. FMR LLC now owns 2,123 shares of the company’s stock worth $201,000 after purchasing an additional 601 shares in the last quarter. Quantbot Technologies LP lifted its stake in Palomar by 97.0% in the 3rd quarter. Quantbot Technologies LP now owns 20,895 shares of the company’s stock worth $1,978,000 after acquiring an additional 10,291 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Palomar by 25.1% during the third quarter. The Manufacturers Life Insurance Company now owns 75,216 shares of the company’s stock worth $7,121,000 after purchasing an additional 15,093 shares during the period. 90.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PLMR. Keefe, Bruyette & Woods raised their price objective on Palomar from $117.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Truist Financial lifted their target price on shares of Palomar from $100.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their price target on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler increased their price target on Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Evercore ISI lifted their price target on shares of Palomar from $90.00 to $99.00 and gave the company an “in-line” rating in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $109.00.

Palomar Company Profile

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.