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 Palomar stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $144.00, for a total value of $144,000.00. Following the sale, the chief financial officer now owns 9,172 shares of the company’s stock, valued at approximately $1,320,768. This trade represents a 9.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Monday, March 31st, T Christopher Uchida sold 1,000 shares of Palomar stock. The shares were sold at an average price of $139.00, for a total transaction of $139,000.00.
• On Tuesday, February 18th, T Christopher Uchida sold 552 shares of Palomar stock. The stock was 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 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 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.

Palomar Price Performance

Palomar stock traded up $12.07 during mid-day trading on Wednesday, reaching $143.13. 492,372 shares of the company traded hands, compared to its average volume of 180,320. Palomar Holdings, Inc. has a 52-week low of $74.09 and a 52-week high of $144.47. The firm’s 50 day moving average price is $125.49 and its 200 day moving average price is $110.38. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 31.95 and a beta of 0.46.

Palomar (NASDAQ:PLMR) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.13. Palomar had a return on equity of 19.76% and a net margin of 21.23%. On average, sell-side analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Institutional Trading of Palomar

Hedge funds and other institutional investors have recently modified their holdings of the business. NBC Securities Inc. purchased a new position in Palomar during the 1st quarter valued at about $53,000. Rhumbline Advisers boosted its position in shares of Palomar by 1.2% in the 1st quarter. Rhumbline Advisers now owns 69,865 shares of the company’s stock worth $9,577,000 after purchasing an additional 816 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Palomar by 27,543.8% in the 1st quarter. GAMMA Investing LLC now owns 99,794 shares of the company’s stock worth $13,680,000 after buying an additional 99,433 shares during the last quarter. California State Teachers Retirement System increased its position in Palomar by 3.8% during the 4th quarter. California State Teachers Retirement System now owns 24,444 shares of the company’s stock valued at $2,581,000 after buying an additional 899 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Palomar during the fourth quarter valued at $5,652,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Truist Financial upped their target price on Palomar from $112.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a report on Thursday, February 13th. Piper Sandler boosted their price target on shares of Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. upgraded Palomar from a “neutral” rating to an “overweight” rating and increased their target price for the company from $115.00 to $150.00 in a report on Tuesday. Finally, Keefe, Bruyette & Woods cut their target price on shares of Palomar from $155.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.50.

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.