Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells $54,928.38 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 507 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $108.34, for a total value of $54,928.38. Following the transaction, the chief financial officer now directly owns 17,845 shares of the company’s stock, valued at approximately $1,933,327.30. This trade represents a 2.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 value 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 shares were 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 stock was sold at an average price of $110.85, for a total transaction of $114,175.50.
• On Monday, November 11th, T Christopher Uchida sold 1,111 shares of Palomar stock. The stock was sold at an average price of $104.00, for a total transaction of $115,544.00.

Palomar Stock Up 0.4 %

NASDAQ PLMR opened at $107.87 on Friday. The company has a 50-day moving average price of $106.94 and a 200-day moving average price of $99.27. Palomar Holdings, Inc. has a 52 week low of $57.55 and a 52 week high of $112.90. The firm has a market capitalization of $2.86 billion, a P/E ratio of 25.62 and a beta of 0.38.

Palomar (NASDAQ:PLMR) last released its quarterly earnings results on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.20. Palomar had a net margin of 21.55% and a return on equity of 19.65%. The business had revenue of $148.50 million for the quarter, compared to the consensus estimate of $134.72 million. During the same period last year, the firm earned $0.80 earnings per share. As a group, equities research analysts anticipate that Palomar Holdings, Inc. will post 4.33 EPS for the current year.

Hedge Funds Weigh In On Palomar

Several institutional investors and hedge funds have recently bought and sold shares of PLMR. Blue Trust Inc. purchased a new position in shares of Palomar during the 4th quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. bought a new stake in Palomar during the third quarter valued at about $25,000. GAMMA Investing LLC lifted its position in shares of Palomar by 48.6% in the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after acquiring an additional 125 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Palomar by 490.9% in the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $43,000 after acquiring an additional 378 shares during the period. Finally, KBC Group NV raised its stake in Palomar by 44.9% during the 4th quarter. KBC Group NV now owns 1,045 shares of the company’s stock valued at $110,000 after purchasing an additional 324 shares during the period. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Piper Sandler boosted their target price on Palomar from $119.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, January 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 report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods boosted 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. Three equities research 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, Palomar currently 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.