Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida Sells 394 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 394 shares of Palomar stock in a transaction on Sunday, January 26th. The stock was sold at an average price of $101.69, for a total value of $40,065.86. Following the sale, the chief financial officer now directly owns 16,943 shares of the company’s stock, valued at $1,722,933.67. This represents a 2.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• 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 value 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 value 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 Performance

Shares of PLMR opened at $109.29 on Wednesday. Palomar Holdings, Inc. has a 52 week low of $57.55 and a 52 week high of $112.90. The stock has a 50 day moving average price of $106.96 and a two-hundred day moving average price of $99.14. The firm has a market capitalization of $2.89 billion, a P/E ratio of 25.96 and a beta of 0.38.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PLMR shares. Piper Sandler raised their price target on shares of Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Keefe, Bruyette & Woods raised their target price on shares of Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. upped their price target on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group raised their price objective on Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.50.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new stake in Palomar in the 3rd quarter worth about $10,994,000. Soros Fund Management LLC purchased a new position in shares of Palomar in the 3rd quarter worth approximately $9,467,000. Westfield Capital Management Co. LP boosted its stake in shares of Palomar by 24.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company’s stock worth $37,339,000 after buying an additional 77,552 shares during the last quarter. Artemis Investment Management LLP grew its holdings in shares of Palomar by 18.7% in the fourth quarter. Artemis Investment Management LLP now owns 455,082 shares of the company’s stock valued at $48,052,000 after acquiring an additional 71,806 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Palomar by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 508,870 shares of the company’s stock valued at $41,295,000 after acquiring an additional 66,478 shares during the last quarter. 90.25% of the stock is owned by institutional investors.

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.