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 Tuesday, October 15th. The shares were sold at an average price of $97.65, for a total value of $100,579.50. Following the transaction, the chief financial officer now owns 17,543 shares of the company’s stock, valued at approximately $1,713,073.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, August 23rd, T Christopher Uchida sold 1,750 shares of Palomar stock. The shares were sold at an average price of $99.00, for a total transaction of $173,250.00.
• On Tuesday, August 6th, T Christopher Uchida sold 1,750 shares of Palomar stock. The shares were sold at an average price of $94.00, for a total transaction of $164,500.00.

Palomar Stock Performance

Shares of PLMR traded down $0.16 during trading hours on Wednesday, hitting $98.02. The company had a trading volume of 128,385 shares, compared to its average volume of 164,940. Palomar Holdings, Inc. has a 52-week low of $48.08 and a 52-week high of $103.40. The firm has a fifty day moving average price of $95.54 and a 200-day moving average price of $87.58. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 28.17 and a beta of 0.33.

Palomar (NASDAQ:PLMR) last issued its earnings results on Monday, August 5th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.16. The firm had revenue of $123.08 million for the quarter, compared to the consensus estimate of $338.74 million. Palomar had a net margin of 21.63% and a return on equity of 20.83%. The business’s revenue was up 47.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 earnings per share. Research analysts anticipate that Palomar Holdings, Inc. will post 4.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PLMR. JPMorgan Chase & Co. lifted their price objective on Palomar from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Truist Financial lifted their price target on Palomar from $100.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Piper Sandler increased their price objective on Palomar from $99.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Jefferies Financial Group boosted their target price on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Palomar from $96.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $105.50.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its position in shares of Palomar by 48.6% during the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after buying an additional 125 shares during the last quarter. International Assets Investment Management LLC bought a new position in Palomar during the 2nd quarter valued at about $49,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Palomar during the 1st quarter valued at about $59,000. Advisors Asset Management Inc. boosted its holdings in shares of Palomar by 137.1% during the 1st quarter. Advisors Asset Management Inc. now owns 735 shares of the company’s stock valued at $62,000 after acquiring an additional 425 shares during the last quarter. Finally, Atwood & Palmer Inc. grew its stake in shares of Palomar by 66.7% in the first quarter. Atwood & Palmer Inc. now owns 750 shares of the company’s stock worth $63,000 after acquiring an additional 300 shares during the period. Hedge funds and other 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.