Insider Selling: Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells 1,111 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 1,111 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $104.00, for a total value of $115,544.00. Following the completion of the sale, the chief financial officer now directly owns 16,432 shares of the company’s stock, valued at $1,708,928. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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.
• On Friday, August 23rd, T Christopher Uchida sold 1,750 shares of Palomar stock. The stock was sold at an average price of $99.00, for a total value of $173,250.00.

Palomar Price Performance

Palomar stock traded down $0.89 during mid-day trading on Tuesday, hitting $100.69. The company’s stock had a trading volume of 158,382 shares, compared to its average volume of 163,597. Palomar Holdings, Inc. has a 52-week low of $54.50 and a 52-week high of $107.00. The firm’s 50 day moving average is $95.31 and its 200 day moving average is $89.64. The company has a market cap of $2.67 billion, a PE ratio of 23.92 and a beta of 0.34.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.20. The business had revenue of $148.50 million for the quarter, compared to analyst estimates of $134.72 million. Palomar had a return on equity of 19.65% and a net margin of 21.55%. During the same quarter in the prior year, the firm posted $0.80 EPS. As a group, analysts forecast that Palomar Holdings, Inc. will post 4.35 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on PLMR. Keefe, Bruyette & Woods upped their target price on Palomar from $117.00 to $120.00 and gave the company an “outperform” rating in a report on Friday. Piper Sandler raised their target price on Palomar from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday. JPMorgan Chase & Co. lifted their target price on Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Evercore ISI boosted their price objective on Palomar from $90.00 to $99.00 and gave the company an “in-line” rating in a research report on Tuesday, August 6th. Finally, Truist Financial lifted their target price on Palomar from $100.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $109.00.

Institutional Trading of Palomar

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Palomar by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 2,403,520 shares of the company’s stock valued at $201,487,000 after purchasing an additional 40,453 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in Palomar by 5.5% during the first quarter. Champlain Investment Partners LLC now owns 1,340,795 shares of the company’s stock worth $112,399,000 after acquiring an additional 69,615 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Palomar by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 508,870 shares of the company’s stock worth $41,295,000 after acquiring an additional 66,478 shares in the last quarter. Emerald Advisers LLC lifted its holdings in Palomar by 1.9% during the third quarter. Emerald Advisers LLC now owns 449,973 shares of the company’s stock worth $42,599,000 after acquiring an additional 8,601 shares in the last quarter. Finally, Artemis Investment Management LLP lifted its holdings in shares of Palomar by 12.9% in the third quarter. Artemis Investment Management LLP now owns 383,276 shares of the company’s stock valued at $36,285,000 after purchasing an additional 43,812 shares in the last quarter. Institutional investors own 90.25% of the company’s stock.

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.