Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida Sells 1,030 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 1,030 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $110.85, for a total transaction of $114,175.50. Following the completion of the sale, the chief financial officer now owns 15,994 shares in the company, valued at $1,772,934.90. This represents a 6.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, November 11th, T Christopher Uchida sold 1,111 shares of Palomar stock. The shares were sold at an average price of $104.00, for a total transaction 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

PLMR stock opened at $104.74 on Thursday. The business has a 50-day moving average of $101.73 and a 200-day moving average of $94.32. The stock has a market capitalization of $2.77 billion, a P/E ratio of 24.88 and a beta of 0.36. Palomar Holdings, Inc. has a fifty-two week low of $54.50 and a fifty-two week high of $112.90.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Monday, November 4th. The company reported $1.23 EPS 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 quarter in the prior year, the firm posted $0.80 EPS. Equities analysts expect that Palomar Holdings, Inc. will post 4.33 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on PLMR. Jefferies Financial Group lifted their price objective on 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 increased their price objective on shares of Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Piper Sandler lifted their target price on shares of Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. increased their price target on Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $111.67.

Institutional Investors Weigh In On Palomar

Several hedge funds have recently bought and sold shares of PLMR. State Street Corp grew its holdings in Palomar by 3.0% in the 3rd quarter. State Street Corp now owns 1,097,702 shares of the company’s stock valued at $103,919,000 after buying an additional 32,151 shares in the last quarter. Victory Capital Management Inc. grew its position in Palomar by 1,634.6% in the second quarter. Victory Capital Management Inc. now owns 177,678 shares of the company’s stock valued at $14,419,000 after acquiring an additional 167,435 shares during the last quarter. Driehaus Capital Management LLC raised its stake in Palomar by 17.1% during the second quarter. Driehaus Capital Management LLC now owns 300,213 shares of the company’s stock worth $24,362,000 after acquiring an additional 43,841 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Palomar by 58.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 32,837 shares of the company’s stock valued at $3,109,000 after purchasing an additional 12,147 shares during the last quarter. Finally, Moran Wealth Management LLC bought a new position in Palomar in the 3rd quarter valued at approximately $547,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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.