Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells $40,743.30 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 390 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $104.47, for a total value of $40,743.30. Following the completion of the sale, the chief financial officer now owns 18,509 shares of the company’s stock, valued at approximately $1,933,635.23. This trade represents a 2.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 stock was 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 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 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.

Palomar Price Performance

NASDAQ:PLMR opened at $110.73 on Friday. The stock’s 50-day moving average is $106.87 and its two-hundred day moving average is $99.82. The stock has a market cap of $2.93 billion, a PE ratio of 26.30 and a beta of 0.38. Palomar Holdings, Inc. has a fifty-two week low of $57.68 and a fifty-two week high of $112.90.

Palomar (NASDAQ:PLMR) last released its earnings results on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 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 EPS. On average, equities research analysts anticipate that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PLMR. JPMorgan Chase & Co. upped their target price on Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods lifted their target price on shares of Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Piper Sandler lifted their target price on shares of Palomar from $119.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $115.50.

Hedge Funds Weigh In On Palomar

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp boosted its position in Palomar by 3.0% during the third quarter. State Street Corp now owns 1,097,702 shares of the company’s stock valued at $103,919,000 after purchasing an additional 32,151 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Palomar by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock valued at $56,822,000 after buying an additional 18,335 shares during the last quarter. Artemis Investment Management LLP grew its stake in shares of Palomar by 18.7% in the 4th quarter. Artemis Investment Management LLP now owns 455,082 shares of the company’s stock valued at $48,052,000 after buying an additional 71,806 shares in the last quarter. Emerald Advisers LLC increased its holdings in Palomar by 1.9% in the third quarter. Emerald Advisers LLC now owns 449,973 shares of the company’s stock worth $42,599,000 after buying an additional 8,601 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its position in Palomar by 24.5% during the third quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company’s stock valued at $37,339,000 after acquiring an additional 77,552 shares in the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

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.