Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida Sells 507 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 507 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $108.34, for a total transaction of $54,928.38. Following the sale, the chief financial officer now owns 17,845 shares of the company’s stock, valued at approximately $1,933,327.30. This represents a 2.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Sunday, January 26th, T Christopher Uchida sold 394 shares of Palomar stock. The shares were 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 transaction of $91,463.04.
• On Wednesday, December 18th, T Christopher Uchida sold 1,030 shares of Palomar stock. The shares were 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 shares were sold at an average price of $104.00, for a total transaction of $115,544.00.

Palomar Stock Up 0.4 %

PLMR stock traded up $0.43 during mid-day trading on Friday, hitting $107.87. The company 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 price-to-earnings ratio of 25.62 and a beta of 0.38. Palomar Holdings, Inc. has a 12-month low of $57.55 and a 12-month high of $112.90. The company has a 50-day moving average price of $106.94 and a 200 day moving average price of $99.27.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.03 by $0.20. The business had revenue of $148.50 million for the quarter, compared to analysts’ expectations of $134.72 million. Palomar had a net margin of 21.55% and a return on equity of 19.65%. During the same quarter in the previous year, the company earned $0.80 EPS. As a group, analysts expect that Palomar Holdings, Inc. will post 4.33 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PLMR. Jefferies Financial Group boosted their price objective on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price objective on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods upped their target price on shares of Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, 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 report on Monday, January 6th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Palomar currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

Institutional Trading of Palomar

Several hedge funds have recently bought and sold shares of PLMR. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Palomar during the 3rd quarter valued at about $25,000. Blue Trust Inc. purchased a new stake in shares of Palomar during the 4th quarter valued at about $26,000. GAMMA Investing LLC raised its position in shares of Palomar by 48.6% during the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after buying an additional 125 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Palomar by 490.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $43,000 after buying an additional 378 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Palomar by 20.2% during the 3rd quarter. Covestor Ltd now owns 1,076 shares of the company’s stock valued at $102,000 after buying an additional 181 shares in the last quarter. Hedge funds and other 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.