Insider Selling: Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells 1,030 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 1,030 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $110.85, for a total value of $114,175.50. Following the completion of the transaction, the chief financial officer now owns 15,994 shares of the company’s stock, valued at approximately $1,772,934.90. This represents a 6.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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 shares were sold at an average price of $104.00, for a total transaction of $115,544.00.
• On Tuesday, October 15th, T Christopher Uchida sold 1,030 shares of Palomar stock. The shares were sold at an average price of $97.65, for a total value of $100,579.50.

Palomar Price Performance

Shares of Palomar stock traded down $6.41 on Wednesday, hitting $104.74. The company had a trading volume of 190,259 shares, compared to its average volume of 162,626. Palomar Holdings, Inc. has a 52 week low of $54.50 and a 52 week high of $112.90. The company has a market cap of $2.77 billion, a PE ratio of 24.88 and a beta of 0.36. The business has a 50-day simple moving average of $101.73 and a 200-day simple moving average of $94.32.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.20. Palomar had a return on equity of 19.65% and a net margin of 21.55%. The firm had revenue of $148.50 million during the quarter, compared to analyst estimates of $134.72 million. During the same period last year, the company posted $0.80 EPS. On average, equities research analysts predict that Palomar Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. bought a new stake in Palomar in the third quarter worth about $25,000. GAMMA Investing LLC raised its holdings in shares of Palomar by 48.6% in the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $36,000 after purchasing an additional 125 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Palomar by 490.9% during the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $43,000 after purchasing an additional 378 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Palomar during the second quarter worth approximately $49,000. Finally, Covestor Ltd boosted its holdings in Palomar by 20.2% during the third quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after buying an additional 181 shares in the last quarter. Institutional investors own 90.25% of the company’s stock.

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.