Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells $114,175.50 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 1,030 shares of Palomar stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $110.85, for a total transaction of $114,175.50. Following the transaction, the chief financial officer now owns 15,994 shares in the company, valued at approximately $1,772,934.90. This trade represents a 6.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• 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.
• On Tuesday, October 15th, T Christopher Uchida sold 1,030 shares of Palomar stock. The stock was sold at an average price of $97.65, for a total value of $100,579.50.

Palomar Trading Down 0.9 %

PLMR opened at $103.81 on Friday. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 24.66 and a beta of 0.36. The company’s fifty day moving average price is $101.96 and its two-hundred day moving average price is $94.39. Palomar Holdings, Inc. has a 1-year low of $54.50 and a 1-year high of $112.90.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.20. The business had revenue of $148.50 million for the quarter, compared to analysts’ expectations of $134.72 million. Palomar had a net margin of 21.55% and a return on equity of 19.65%. During the same quarter last year, the firm earned $0.80 EPS. As a group, equities analysts forecast that Palomar Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Victory Capital Management Inc. grew its position in Palomar by 1,634.6% during the second quarter. Victory Capital Management Inc. now owns 177,678 shares of the company’s stock valued at $14,419,000 after buying an additional 167,435 shares during the period. F M Investments LLC purchased a new position in Palomar in the second quarter valued at about $11,946,000. Point72 Asset Management L.P. bought a new position in shares of Palomar during the 3rd quarter valued at approximately $10,994,000. Allspring Global Investments Holdings LLC increased its stake in shares of Palomar by 214.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 165,685 shares of the company’s stock worth $13,445,000 after purchasing an additional 112,996 shares during the last quarter. Finally, Soros Fund Management LLC bought a new stake in shares of Palomar in the 3rd quarter worth approximately $9,467,000. Institutional investors own 90.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PLMR. JPMorgan Chase & Co. raised their price objective on Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler increased their target price on shares of Palomar from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Keefe, Bruyette & Woods raised their price target on shares of Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, Jefferies Financial Group upped their price objective on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Palomar has a consensus rating of “Moderate Buy” and an average target price of $111.67.

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.