Insider Selling: Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells 1,000 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 1,000 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $139.00, for a total transaction of $139,000.00. Following the completion of the sale, the chief financial officer now owns 10,172 shares in the company, valued at $1,413,908. This represents a 8.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, February 18th, T Christopher Uchida sold 552 shares of Palomar stock. The shares were sold at an average price of $123.26, for a total transaction of $68,039.52.
• On Friday, January 31st, T Christopher Uchida sold 390 shares of Palomar stock. The stock was 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 shares were 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 stock was 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 value 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 value of $91,463.04.

Palomar Stock Up 0.2 %

PLMR traded up $0.31 during trading hours on Monday, hitting $137.08. 328,720 shares of the company’s stock were exchanged, compared to its average volume of 171,267. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 30.60 and a beta of 0.33. Palomar Holdings, Inc. has a 1-year low of $74.09 and a 1-year high of $139.11. The stock’s 50-day moving average is $120.94 and its two-hundred day moving average is $108.23.

Palomar (NASDAQ:PLMR) last issued its quarterly 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%. On average, equities research analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Truist Financial raised their target price on shares of Palomar from $112.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 14th. JMP Securities restated a “market perform” rating on shares of Palomar in a report on Thursday, February 13th. Keefe, Bruyette & Woods upped their target price on shares of Palomar from $152.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, March 21st. Finally, Piper Sandler increased their target price on Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $127.83.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. bought a new stake in Palomar during the fourth quarter worth $26,000. Smartleaf Asset Management LLC increased its stake in shares of Palomar by 536.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 414 shares of the company’s stock worth $43,000 after purchasing an additional 349 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Palomar by 63.2% in the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company’s stock valued at $52,000 after purchasing an additional 191 shares during the period. Farther Finance Advisors LLC lifted its stake in Palomar by 21.8% in the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company’s stock valued at $58,000 after purchasing an additional 99 shares during the last quarter. Finally, KBC Group NV grew its holdings in Palomar by 44.9% during the fourth quarter. KBC Group NV now owns 1,045 shares of the company’s stock worth $110,000 after purchasing an additional 324 shares during the period. 90.25% of the stock is owned by institutional investors and hedge funds.

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.