Insider Selling: Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells 1,000 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 1,000 shares of Palomar stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $144.00, for a total value of $144,000.00. Following the transaction, the chief financial officer now owns 9,172 shares in the company, valued at approximately $1,320,768. This represents a 9.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, March 31st, T Christopher Uchida sold 1,000 shares of Palomar stock. The stock was sold at an average price of $139.00, for a total transaction of $139,000.00.
• On Tuesday, February 18th, T Christopher Uchida sold 552 shares of Palomar stock. The shares were sold at an average price of $123.26, for a total transaction of $68,039.52.
• On Friday, January 31st, T Christopher Uchida sold 390 shares of Palomar stock. The shares were sold at an average price of $104.47, for a total transaction 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 value 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 value of $112,939.50.

Palomar Trading Down 0.1 %

Palomar stock opened at $142.99 on Friday. The firm has a market capitalization of $3.81 billion, a P/E ratio of 31.92 and a beta of 0.46. Palomar Holdings, Inc. has a twelve month low of $74.09 and a twelve month high of $145.81. The stock’s fifty day simple moving average is $127.63 and its 200-day simple moving average is $111.26.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.13. Palomar had a return on equity of 19.76% and a net margin of 21.23%. Sell-side analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

PLMR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised Palomar from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $115.00 to $150.00 in a research report on Tuesday. Truist Financial lifted their price target on shares of Palomar from $112.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods lowered their price objective on shares of Palomar from $155.00 to $145.00 and set an “outperform” rating for the company in a research report on Wednesday. Piper Sandler boosted their target price on Palomar from $133.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, JMP Securities restated a “market perform” rating on shares of Palomar in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $134.50.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PLMR. Dakota Wealth Management increased its position in shares of Palomar by 3.1% in the 4th quarter. Dakota Wealth Management now owns 3,070 shares of the company’s stock valued at $324,000 after purchasing an additional 92 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Palomar by 21.8% during the fourth quarter. Farther Finance Advisors LLC now owns 554 shares of the company’s stock worth $58,000 after purchasing an additional 99 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Palomar by 0.7% in the fourth quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company’s stock valued at $1,588,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in Palomar by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company’s stock valued at $1,352,000 after buying an additional 100 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its holdings in Palomar by 2.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,837 shares of the company’s stock worth $616,000 after buying an additional 145 shares during 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.