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 Tuesday, October 15th. The stock was sold at an average price of $97.65, for a total value of $100,579.50. Following the completion of the transaction, the chief financial officer now owns 17,543 shares in the company, valued at approximately $1,713,073.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 value of $173,250.00.
• On Tuesday, August 6th, T Christopher Uchida sold 1,750 shares of Palomar stock. The shares were sold at an average price of $94.00, for a total transaction of $164,500.00.

Palomar Stock Down 0.2 %

PLMR stock traded down $0.16 during trading on Wednesday, reaching $98.02. The company’s stock had a trading volume of 128,385 shares, compared to its average volume of 164,940. The company’s fifty day moving average is $95.54 and its 200-day moving average is $87.58. The company has a market capitalization of $2.44 billion, a P/E ratio of 28.17 and a beta of 0.33. Palomar Holdings, Inc. has a 1 year low of $48.08 and a 1 year high of $103.40.

Palomar (NASDAQ:PLMR) last released its earnings results on Monday, August 5th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.16. Palomar had a return on equity of 20.83% and a net margin of 21.63%. The firm had revenue of $123.08 million during the quarter, compared to analysts’ expectations of $338.74 million. During the same quarter last year, the business posted $0.72 earnings per share. The firm’s revenue was up 47.0% on a year-over-year basis. Analysts anticipate that Palomar Holdings, Inc. will post 4.37 earnings per share for the current year.

Institutional Investors Weigh In On Palomar

Several institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC bought a new position in shares of Palomar during the fourth quarter worth $338,000. Vanguard Group Inc. lifted its stake in Palomar by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 2,363,067 shares of the company’s stock worth $131,150,000 after purchasing an additional 85,329 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Palomar in the 4th quarter worth $493,000. Atwood & Palmer Inc. boosted its holdings in shares of Palomar by 66.7% during the 1st quarter. Atwood & Palmer Inc. now owns 750 shares of the company’s stock valued at $63,000 after purchasing an additional 300 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new stake in shares of Palomar in the first quarter worth about $20,904,000. Institutional investors own 90.25% of the company’s stock.

Wall Street Analysts Forecast Growth

PLMR has been the subject of several recent research reports. Jefferies Financial Group boosted their target price on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI boosted their price objective on shares of Palomar from $90.00 to $99.00 and gave the company an “in-line” rating in a research report on Tuesday, August 6th. Truist Financial raised their target price on Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Piper Sandler lifted their target price on Palomar from $99.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, Keefe, Bruyette & Woods upped their price target on Palomar from $96.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Palomar presently has an average rating of “Moderate Buy” and an average target price of $105.50.

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.