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 business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $109.65, for a total transaction of $112,939.50. Following the sale, the chief financial officer now directly owns 16,258 shares in the company, valued at approximately $1,782,689.70. This represents a 5.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• 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 transaction 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 value of $114,175.50.
• 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 value of $115,544.00.

Palomar Price Performance

NASDAQ:PLMR opened at $107.84 on Thursday. The company has a 50 day moving average price of $106.86 and a 200-day moving average price of $98.33. Palomar Holdings, Inc. has a 1-year low of $57.55 and a 1-year high of $112.90. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 25.62 and a beta of 0.38.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.20. Palomar had a net margin of 21.55% and a return on equity of 19.65%. The company had revenue of $148.50 million during the quarter, compared to analysts’ expectations of $134.72 million. During the same quarter in the previous year, the company earned $0.80 earnings per share. On average, sell-side analysts anticipate that Palomar Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Palomar

A number of large investors have recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. acquired a new stake in Palomar in the third quarter valued at approximately $25,000. GAMMA Investing LLC lifted its position in shares of Palomar by 48.6% during the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after buying an additional 125 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Palomar by 490.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $43,000 after acquiring an additional 378 shares during the period. Covestor Ltd increased its holdings in Palomar by 20.2% in the 3rd quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after acquiring an additional 181 shares in the last quarter. Finally, KBC Group NV raised its position in Palomar by 44.9% during the fourth quarter. KBC Group NV now owns 1,045 shares of the company’s stock worth $110,000 after acquiring an additional 324 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PLMR. Keefe, Bruyette & Woods lifted their target price on Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Jefferies Financial Group raised their target price on shares of Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Piper Sandler upped their price target on shares of Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.