Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells $54,928.38 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 507 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $108.34, for a total transaction of $54,928.38. Following the completion of the sale, the chief financial officer now directly owns 17,845 shares in the company, valued at $1,933,327.30. This trade represents a 2.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 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 stock was 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 Stock Performance

PLMR traded up $0.43 during trading on Friday, hitting $107.87. The stock had a trading volume of 129,015 shares, compared to its average volume of 133,406. The company has a market capitalization of $2.86 billion, a PE ratio of 25.62 and a beta of 0.38. Palomar Holdings, Inc. has a twelve month low of $57.55 and a twelve month high of $112.90. The stock has a 50 day simple moving average of $106.94 and a two-hundred day simple moving average of $99.27.

Palomar (NASDAQ:PLMR) last announced its 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 company had revenue of $148.50 million during the quarter, compared to the consensus estimate of $134.72 million. Palomar had a net margin of 21.55% and a return on equity of 19.65%. During the same period last year, the firm earned $0.80 earnings per share. On average, equities research analysts anticipate that Palomar Holdings, Inc. will post 4.33 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on PLMR shares. Piper Sandler upped their target price on shares of Palomar from $119.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Jefferies Financial Group increased 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. JPMorgan Chase & Co. increased their price objective on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $115.50.

Institutional Investors Weigh In On Palomar

Several institutional investors have recently bought and sold shares of PLMR. New York State Common Retirement Fund raised its holdings in shares of Palomar by 7.1% in the fourth quarter. New York State Common Retirement Fund now owns 15,177 shares of the company’s stock worth $1,603,000 after buying an additional 1,000 shares during the last quarter. Peregrine Capital Management LLC raised its holdings in shares of Palomar by 1.8% in the fourth quarter. Peregrine Capital Management LLC now owns 91,650 shares of the company’s stock worth $9,677,000 after buying an additional 1,645 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Palomar by 5.6% in the fourth quarter. Principal Financial Group Inc. now owns 147,540 shares of the company’s stock worth $15,579,000 after buying an additional 7,875 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Palomar by 1.8% in the fourth quarter. Rhumbline Advisers now owns 69,049 shares of the company’s stock worth $7,291,000 after buying an additional 1,221 shares during the last quarter. Finally, Blue Trust Inc. purchased a new position in shares of Palomar in the fourth quarter worth $26,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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.