Insider Selling: Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells $139,000.00 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 1,000 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the transaction, the chief financial officer now directly owns 10,172 shares in the company, valued at $1,413,908. This represents a 8.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 value of $68,039.52.
• On Friday, January 31st, T Christopher Uchida sold 390 shares of Palomar stock. The stock was sold at an average price of $104.47, for a total value of $40,743.30.
• On Wednesday, January 29th, T Christopher Uchida sold 507 shares of Palomar stock. The shares were 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 transaction of $40,065.86.
• On Wednesday, January 22nd, T Christopher Uchida sold 1,030 shares of Palomar stock. The shares were 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 shares were sold at an average price of $105.86, for a total value of $91,463.04.

Palomar Price Performance

Shares of NASDAQ PLMR opened at $141.72 on Thursday. The business’s fifty day moving average price is $122.73 and its 200-day moving average price is $109.08. Palomar Holdings, Inc. has a one year low of $74.09 and a one year high of $142.18. The stock has a market capitalization of $3.78 billion, a PE ratio of 31.63 and a beta of 0.33.

Palomar (NASDAQ:PLMR) last issued its earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. As a group, equities analysts expect that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System grew its position in shares of Palomar by 3.8% in the fourth quarter. California State Teachers Retirement System now owns 24,444 shares of the company’s stock valued at $2,581,000 after purchasing an additional 899 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Palomar in the 4th quarter worth about $5,652,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Palomar by 30.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,907 shares of the company’s stock valued at $6,854,000 after buying an additional 14,965 shares in the last quarter. Tidal Investments LLC purchased a new position in Palomar during the 4th quarter valued at about $616,000. Finally, Silvercrest Asset Management Group LLC increased its position in shares of Palomar by 3.0% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 15,750 shares of the company’s stock valued at $1,663,000 after buying an additional 462 shares during the period. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. JMP Securities reissued a “market perform” rating on shares of Palomar in a research note on Thursday, February 13th. Keefe, Bruyette & Woods boosted their price target on shares of Palomar from $152.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, March 21st. Piper Sandler raised their price objective on shares of Palomar from $133.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Truist Financial boosted their target price on shares of Palomar from $112.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Palomar presently has an average rating of “Moderate Buy” and a consensus target price of $127.83.

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.