T Christopher Uchida Sells 864 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 864 shares of the business’s stock in a transaction on Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total transaction of $91,463.04. Following the completion of the sale, the chief financial officer now owns 17,288 shares in the company, valued at $1,830,107.68. This represents a 4.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, December 18th, T Christopher Uchida sold 1,030 shares of Palomar stock. The stock was 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 stock was sold at an average price of $104.00, for a total value of $115,544.00.
• 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.

Palomar Stock Performance

Shares of PLMR stock opened at $104.81 on Monday. The firm’s 50 day moving average price is $103.86 and its two-hundred day moving average price is $96.06. The stock has a market cap of $2.77 billion, a PE ratio of 24.90 and a beta of 0.38. Palomar Holdings, Inc. has a 52-week low of $54.81 and a 52-week high of $112.90.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $134.72 million. During the same period in the previous year, the firm earned $0.80 earnings per share. As a group, sell-side analysts predict that Palomar Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Palomar by 3.0% in the 3rd quarter. State Street Corp now owns 1,097,702 shares of the company’s stock valued at $103,919,000 after buying an additional 32,151 shares during the period. Geode Capital Management LLC grew its stake in Palomar by 3.2% in the third quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock valued at $56,822,000 after acquiring an additional 18,335 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Palomar by 1,634.6% in the second quarter. Victory Capital Management Inc. now owns 177,678 shares of the company’s stock worth $14,419,000 after acquiring an additional 167,435 shares in the last quarter. Driehaus Capital Management LLC raised its position in shares of Palomar by 17.1% during the second quarter. Driehaus Capital Management LLC now owns 300,213 shares of the company’s stock worth $24,362,000 after purchasing an additional 43,841 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Palomar by 58.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 32,837 shares of the company’s stock valued at $3,109,000 after purchasing an additional 12,147 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PLMR shares. Keefe, Bruyette & Woods raised their target price on Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. raised 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. Jefferies Financial Group upped their target price on shares of Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Piper Sandler raised their price target on shares of Palomar from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Palomar presently has an average rating of “Moderate Buy” and a consensus price target of $111.67.

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.