Insider Selling: Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells 552 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 552 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $123.26, for a total value of $68,039.52. Following the transaction, the chief financial officer now directly owns 15,683 shares in the company, valued at $1,933,086.58. This trade represents a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Friday, January 31st, T Christopher Uchida sold 390 shares of Palomar stock. The stock was sold at an average price of $104.47, for a total value of $40,743.30.
• On Wednesday, January 29th, T Christopher Uchida sold 507 shares of Palomar stock. The shares were sold at an average price of $108.34, for a total value of $54,928.38.
• On Sunday, January 26th, T Christopher Uchida sold 394 shares of Palomar stock. The shares were sold at an average price of $101.69, for a total transaction of $40,065.86.
• 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 transaction of $112,939.50.
• On Wednesday, January 1st, T Christopher Uchida sold 864 shares of Palomar stock. The stock was 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 shares were sold at an average price of $110.85, for a total transaction of $114,175.50.

Palomar Stock Performance

Shares of PLMR stock opened at $120.76 on Friday. The stock has a market cap of $3.20 billion, a PE ratio of 26.96 and a beta of 0.38. The business’s fifty day moving average is $108.89 and its 200-day moving average is $101.86. Palomar Holdings, Inc. has a 1 year low of $71.54 and a 1 year high of $128.38.

Palomar (NASDAQ:PLMR) last released its earnings results on Wednesday, February 12th. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. Equities research analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on PLMR. JMP Securities reiterated a “market perform” rating on shares of Palomar in a research report on Thursday, February 13th. JPMorgan Chase & Co. lifted their price target on Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Piper Sandler boosted their price objective on Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods raised their target price on Palomar from $136.00 to $152.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Truist Financial raised their price target on Palomar from $112.00 to $150.00 and gave the company a “buy” rating in a report on Friday, February 14th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Palomar currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.33.

Institutional Investors Weigh In On Palomar

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Palomar by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 2,574,923 shares of the company’s stock valued at $271,886,000 after purchasing an additional 53,123 shares during the period. State Street Corp boosted its holdings in shares of Palomar by 3.0% in the third quarter. State Street Corp now owns 1,097,702 shares of the company’s stock worth $103,919,000 after buying an additional 32,151 shares during the period. American Century Companies Inc. increased its position in shares of Palomar by 36.6% in the fourth quarter. American Century Companies Inc. now owns 785,419 shares of the company’s stock worth $82,932,000 after acquiring an additional 210,523 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Palomar by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 618,840 shares of the company’s stock valued at $65,358,000 after acquiring an additional 18,748 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Palomar by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 561,740 shares of the company’s stock valued at $59,313,000 after acquiring an additional 17,320 shares in 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.