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 sale, the chief financial officer now directly owns 17,288 shares of the company’s stock, valued at approximately $1,830,107.68. The trade was a 4.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $110.85, for a total value 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 Up 0.4 %

PLMR opened at $104.81 on Friday. The company has a market capitalization of $2.77 billion, a PE ratio of 24.90 and a beta of 0.36. The firm has a 50-day simple moving average of $103.86 and a two-hundred day simple moving average of $95.96. 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 results on Monday, November 4th. The company reported $1.23 EPS for the quarter, beating 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 company had revenue of $148.50 million during the quarter, compared to analyst estimates of $134.72 million. During the same period in the prior year, the company earned $0.80 earnings per share. As a group, sell-side analysts expect that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PLMR. Keefe, Bruyette & Woods lifted their price target on shares of Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their target price on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Jefferies Financial Group increased their price target on Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Piper Sandler boosted their price objective on Palomar from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $111.67.

Institutional Investors Weigh In On Palomar

Large investors have recently bought and sold shares of the business. State Street Corp lifted its position in Palomar by 3.0% during the third quarter. State Street Corp now owns 1,097,702 shares of the company’s stock valued at $103,919,000 after purchasing an additional 32,151 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Palomar by 3.2% in the 3rd 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 last quarter. Dimensional Fund Advisors LP grew its position in Palomar by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 508,870 shares of the company’s stock worth $41,295,000 after acquiring an additional 66,478 shares in the last quarter. Emerald Advisers LLC increased its stake in Palomar by 1.9% during the third quarter. Emerald Advisers LLC now owns 449,973 shares of the company’s stock worth $42,599,000 after acquiring an additional 8,601 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its position in Palomar by 24.5% during the third quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company’s stock valued at $37,339,000 after purchasing an additional 77,552 shares during the period. 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.