Insider Selling: Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells $164,500.00 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 1,750 shares of Palomar stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $94.00, for a total value of $164,500.00. Following the sale, the chief financial officer now owns 22,344 shares of the company’s stock, valued at approximately $2,100,336. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Wednesday, July 17th, T Christopher Uchida sold 1,000 shares of Palomar stock. The stock was sold at an average price of $91.30, for a total value of $91,300.00.
• On Thursday, June 20th, T Christopher Uchida sold 1,000 shares of Palomar stock. The stock was sold at an average price of $80.32, for a total transaction of $80,320.00.
• On Monday, May 20th, T Christopher Uchida sold 1,250 shares of Palomar stock. The shares were sold at an average price of $89.00, for a total value of $111,250.00.
• On Wednesday, May 15th, T Christopher Uchida sold 1,000 shares of Palomar stock. The stock was sold at an average price of $83.19, for a total value of $83,190.00.

Palomar Price Performance

Shares of NASDAQ:PLMR traded down $3.46 on Friday, reaching $89.91. 1,091,362 shares of the company traded hands, compared to its average volume of 163,243. The stock has a market capitalization of $2.24 billion, a PE ratio of 25.84 and a beta of 0.31. The company’s 50 day moving average is $85.63 and its 200-day moving average is $79.31. Palomar Holdings, Inc. has a fifty-two week low of $48.08 and a fifty-two week high of $96.44.

Palomar (NASDAQ:PLMR) last released its quarterly earnings results on Monday, August 5th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.16. Palomar had a return on equity of 19.94% and a net margin of 21.78%. The business had revenue of $123.08 million during the quarter, compared to analyst estimates of $338.74 million. During the same quarter last year, the company posted $0.72 EPS. Palomar’s revenue for the quarter was up 47.0% on a year-over-year basis. As a group, analysts expect that Palomar Holdings, Inc. will post 4.18 EPS for the current year.

Institutional Investors Weigh In On Palomar

Several hedge funds have recently made changes to their positions in the company. Signaturefd LLC boosted its position in shares of Palomar by 59.4% in the fourth quarter. Signaturefd LLC now owns 593 shares of the company’s stock worth $33,000 after buying an additional 221 shares during the period. International Assets Investment Management LLC acquired a new position in Palomar in the 2nd quarter valued at approximately $49,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Palomar during the first quarter worth $59,000. Advisors Asset Management Inc. raised its holdings in shares of Palomar by 137.1% during the first quarter. Advisors Asset Management Inc. now owns 735 shares of the company’s stock worth $62,000 after acquiring an additional 425 shares in the last quarter. Finally, Atwood & Palmer Inc. grew its stake in Palomar by 66.7% in the first quarter. Atwood & Palmer Inc. now owns 750 shares of the company’s stock valued at $63,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Analyst Ratings Changes

PLMR has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Palomar from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Evercore ISI raised their target price on Palomar from $90.00 to $99.00 and gave the company an “in-line” rating in a report on Tuesday. Keefe, Bruyette & Woods lifted their price objective on shares of Palomar from $93.00 to $96.00 and gave the company an “outperform” rating in a research note on Wednesday, May 29th. Truist Financial lifted their price objective on Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday. Finally, JMP Securities reissued a “market perform” rating on shares of Palomar in a report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.50.

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.