Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells $112,939.50 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 1,030 shares of Palomar stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $109.65, for a total transaction of $112,939.50. Following the completion of the transaction, the chief financial officer now directly owns 16,258 shares of the company’s stock, valued at $1,782,689.70. The trade was a 5.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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 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 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 Trading Down 1.6 %

NASDAQ:PLMR traded down $1.76 during trading hours on Wednesday, hitting $107.84. The company had a trading volume of 96,477 shares, compared to its average volume of 127,660. Palomar Holdings, Inc. has a 1 year low of $57.55 and a 1 year high of $112.90. The company has a 50-day moving average of $106.86 and a 200 day moving average of $98.33. The company has a market cap of $2.85 billion, a P/E ratio of 25.62 and a beta of 0.38.

Palomar (NASDAQ:PLMR) last issued its earnings results on Monday, November 4th. The company reported $1.23 EPS 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 the consensus estimate of $134.72 million. Palomar had a net margin of 21.55% and a return on equity of 19.65%. During the same period in the previous year, the firm earned $0.80 earnings per share. On average, analysts forecast that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.

Institutional Investors Weigh In On Palomar

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its position in shares of Palomar by 3.0% during the 3rd quarter. State Street Corp now owns 1,097,702 shares of the company’s stock worth $103,919,000 after purchasing an additional 32,151 shares during the period. Geode Capital Management LLC boosted its position in shares of Palomar by 3.2% during the third quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock worth $56,822,000 after buying an additional 18,335 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Palomar by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 508,870 shares of the company’s stock valued at $41,295,000 after buying an additional 66,478 shares in the last quarter. Artemis Investment Management LLP grew its stake in shares of Palomar by 18.7% in the fourth quarter. Artemis Investment Management LLP now owns 455,082 shares of the company’s stock valued at $48,052,000 after buying an additional 71,806 shares in the last quarter. Finally, Emerald Advisers LLC raised its holdings in shares of Palomar by 1.9% in the 3rd quarter. Emerald Advisers LLC now owns 449,973 shares of the company’s stock valued at $42,599,000 after buying an additional 8,601 shares during the period. 90.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLMR has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Jefferies Financial Group raised their price target on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price objective on Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Piper Sandler raised their price target on shares of Palomar from $119.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on 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.