Insider Selling: Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells $91,463.04 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 864 shares of Palomar stock in a transaction on Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total value of $91,463.04. Following the sale, the chief financial officer now directly owns 17,288 shares of the company’s stock, valued at approximately $1,830,107.68. The trade was a 4.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• 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 stock was 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 shares were sold at an average price of $97.65, for a total transaction of $100,579.50.

Palomar Trading Up 0.4 %

PLMR opened at $104.81 on Monday. Palomar Holdings, Inc. has a 1-year low of $54.81 and a 1-year high of $112.90. The business has a 50 day moving average of $103.86 and a 200-day moving average of $96.06. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 24.90 and a beta of 0.38.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.23 earnings per share (EPS) 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 company had revenue of $148.50 million for the quarter, compared to analyst estimates of $134.72 million. During the same period last year, the business posted $0.80 EPS. Equities analysts predict that Palomar Holdings, Inc. will post 4.33 EPS for the current year.

Wall Street Analysts Forecast Growth

PLMR has been the subject of several analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Jefferies Financial Group upped their price target on Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Piper Sandler raised their price objective on Palomar from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. increased their price target on Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $111.67.

Institutional Trading of Palomar

A number of hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Palomar by 8.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,833 shares of the company’s stock valued at $636,000 after purchasing an additional 594 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Palomar during the 2nd quarter valued at about $49,000. Rhumbline Advisers increased its stake in Palomar by 1.4% in the second quarter. Rhumbline Advisers now owns 68,490 shares of the company’s stock valued at $5,558,000 after acquiring an additional 947 shares during the period. Victory Capital Management Inc. raised its position 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 purchasing an additional 167,435 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in Palomar by 2.4% during the second quarter. Arizona State Retirement System now owns 6,961 shares of the company’s stock worth $565,000 after purchasing an additional 164 shares during the period. Institutional investors own 90.25% of the company’s stock.

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.