Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells $114,175.50 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 1,030 shares of the company’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 transaction, the chief financial officer now owns 15,994 shares of the company’s stock, valued at $1,772,934.90. This trade represents a 6.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 value of $115,544.00.
• On Tuesday, October 15th, T Christopher Uchida sold 1,030 shares of Palomar stock. The stock was sold at an average price of $97.65, for a total value of $100,579.50.

Palomar Stock Up 1.1 %

NASDAQ:PLMR opened at $104.93 on Friday. The firm has a market capitalization of $2.78 billion, a P/E ratio of 24.92 and a beta of 0.36. The company has a fifty day moving average of $102.14 and a 200 day moving average of $94.53. Palomar Holdings, Inc. has a 52 week low of $54.50 and a 52 week high of $112.90.

Palomar (NASDAQ:PLMR) last issued 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 firm had revenue of $148.50 million during 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 prior year, the firm posted $0.80 earnings per share. As a group, analysts anticipate that Palomar Holdings, Inc. will post 4.33 EPS for the current year.

Institutional Investors Weigh In On Palomar

Several institutional investors and hedge funds have recently bought and sold shares of PLMR. State Street Corp lifted its position in shares of Palomar by 3.0% in 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. Victory Capital Management Inc. raised its stake in Palomar by 1,634.6% in the second quarter. Victory Capital Management Inc. now owns 177,678 shares of the company’s stock worth $14,419,000 after buying an additional 167,435 shares in the last quarter. Driehaus Capital Management LLC lifted its holdings in Palomar by 17.1% in the second quarter. Driehaus Capital Management LLC now owns 300,213 shares of the company’s stock worth $24,362,000 after buying an additional 43,841 shares during the period. Thrivent Financial for Lutherans boosted its position in 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 acquiring an additional 12,147 shares in the last quarter. Finally, Moran Wealth Management LLC purchased a new position in shares of Palomar during the 3rd quarter worth approximately $547,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Analyst Ratings Changes

PLMR has been the subject of a number of recent research reports. Piper Sandler boosted their target price on Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. upped 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 lifted their target price on shares of Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $111.67.

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.