Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida Sells 552 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 552 shares of Palomar stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $123.26, for a total value of $68,039.52. Following the completion of the transaction, the chief financial officer now owns 15,683 shares in the company, valued at $1,933,086.58. This trade represents a 3.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Friday, January 31st, T Christopher Uchida sold 390 shares of Palomar stock. The shares were sold at an average price of $104.47, for a total transaction of $40,743.30.
• On Wednesday, January 29th, T Christopher Uchida sold 507 shares of Palomar stock. The stock was sold at an average price of $108.34, for a total transaction of $54,928.38.
• 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 transaction of $40,065.86.
• On Wednesday, January 22nd, T Christopher Uchida sold 1,030 shares of Palomar stock. The shares were 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 stock was sold at an average price of $105.86, for a total value 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 value of $114,175.50.

Palomar Stock Down 1.7 %

PLMR opened at $120.76 on Friday. The business’s fifty day simple moving average is $108.89 and its 200 day simple moving average is $101.86. Palomar Holdings, Inc. has a 52 week low of $71.54 and a 52 week high of $128.38. The firm has a market cap of $3.20 billion, a P/E ratio of 26.96 and a beta of 0.38.

Palomar (NASDAQ:PLMR) last released its earnings results on Wednesday, February 12th. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. As a group, equities analysts expect that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Institutional Trading of Palomar

Hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its holdings in shares of Palomar by 36.6% during the 4th quarter. American Century Companies Inc. now owns 785,419 shares of the company’s stock worth $82,932,000 after acquiring an additional 210,523 shares during the period. Norges Bank acquired a new position in shares of Palomar in the 4th quarter valued at $20,637,000. Price T Rowe Associates Inc. MD grew its stake in shares of Palomar by 39.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 432,060 shares of the company’s stock valued at $45,622,000 after buying an additional 122,057 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Palomar during the 3rd quarter worth $10,994,000. Finally, Freestone Grove Partners LP purchased a new position in shares of Palomar in the 4th quarter worth $11,774,000. 90.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on PLMR. Keefe, Bruyette & Woods increased their target price on shares of Palomar from $136.00 to $152.00 and gave the company an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler boosted their target price on Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. JMP Securities restated a “market perform” rating on shares of Palomar in a research report on Thursday, February 13th. Finally, Truist Financial boosted their price objective on shares of Palomar from $112.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $127.33.

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.