T Christopher Uchida Sells 1,030 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 1,030 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $109.65, for a total value of $112,939.50. Following the transaction, the chief financial officer now directly owns 16,258 shares of the company’s stock, valued at approximately $1,782,689.70. This represents a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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 stock was 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 stock was sold at an average price of $104.00, for a total transaction of $115,544.00.

Palomar Trading Down 1.6 %

PLMR stock traded down $1.76 on Wednesday, hitting $107.84. The company’s stock had a trading volume of 96,477 shares, compared to its average volume of 127,660. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 25.62 and a beta of 0.38. The firm has a 50 day moving average of $106.86 and a two-hundred day moving average of $98.33. Palomar Holdings, Inc. has a 1 year low of $57.55 and a 1 year high of $112.90.

Palomar (NASDAQ:PLMR) last announced its earnings results on Monday, November 4th. The company reported $1.23 earnings per share 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 business had revenue of $148.50 million during the quarter, compared to the consensus estimate of $134.72 million. During the same quarter in the prior year, the firm earned $0.80 earnings per share. As a group, equities analysts forecast 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 and other institutional investors have recently bought and sold shares of PLMR. KBC Group NV lifted its position in Palomar by 44.9% in the fourth quarter. KBC Group NV now owns 1,045 shares of the company’s stock valued at $110,000 after purchasing an additional 324 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of Palomar by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 7,919 shares of the company’s stock valued at $836,000 after buying an additional 200 shares during the period. Dakota Wealth Management boosted its stake in shares of Palomar by 3.1% in the fourth quarter. Dakota Wealth Management now owns 3,070 shares of the company’s stock valued at $324,000 after buying an additional 92 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in Palomar during the fourth quarter worth $206,000. Finally, Artemis Investment Management LLP raised its position in Palomar by 18.7% in the fourth quarter. Artemis Investment Management LLP now owns 455,082 shares of the company’s stock worth $48,052,000 after acquiring an additional 71,806 shares in the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PLMR shares. Keefe, Bruyette & Woods lifted their price target on Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Jefferies Financial Group upped their price target on Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price objective on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Piper Sandler increased their target price on shares of Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.