Insider Selling: Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells 1,030 Shares of 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 sale, the chief financial officer now owns 16,258 shares in the company, valued at approximately $1,782,689.70. This trade represents a 5.96 % 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 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 shares were 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 shares were sold at an average price of $104.00, for a total transaction of $115,544.00.

Palomar Price Performance

Shares of Palomar stock opened at $103.49 on Friday. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 24.58 and a beta of 0.38. The firm’s 50-day moving average is $106.96 and its 200 day moving average is $98.57. Palomar Holdings, Inc. has a 1 year low of $57.55 and a 1 year high of $112.90.

Palomar (NASDAQ:PLMR) last issued its earnings results on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.20. Palomar had a return on equity of 19.65% and a net margin of 21.55%. The business had revenue of $148.50 million during the quarter, compared to analyst estimates of $134.72 million. During the same quarter in the previous year, the firm earned $0.80 EPS. On average, equities analysts expect that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Palomar

A number of hedge funds have recently bought and sold shares of PLMR. Point72 Asset Management L.P. purchased a new position in Palomar in the 3rd quarter worth about $10,994,000. Soros Fund Management LLC purchased a new stake in shares of Palomar during the 3rd quarter valued at about $9,467,000. Westfield Capital Management Co. LP increased its position in shares of Palomar by 24.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company’s stock valued at $37,339,000 after purchasing an additional 77,552 shares during the last quarter. Artemis Investment Management LLP increased its position in shares of Palomar by 18.7% during the 4th quarter. Artemis Investment Management LLP now owns 455,082 shares of the company’s stock valued at $48,052,000 after purchasing an additional 71,806 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Palomar by 15.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 508,870 shares of the company’s stock valued at $41,295,000 after purchasing an additional 66,478 shares during the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PLMR. Keefe, Bruyette & Woods boosted their target price on shares of Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Piper Sandler boosted their target price on shares of Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, January 6th. 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 report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.