T Christopher Uchida Sells 1,030 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 1,030 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $109.65, for a total transaction of $112,939.50. Following the completion of the transaction, the chief financial officer now directly owns 16,258 shares of the company’s stock, valued at approximately $1,782,689.70. This trade represents a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Wednesday, January 1st, T Christopher Uchida sold 864 shares of Palomar stock. The shares were sold at an average price of $105.86, for a total transaction 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 Price Performance

PLMR stock opened at $102.71 on Friday. Palomar Holdings, Inc. has a 12 month low of $57.55 and a 12 month high of $112.90. The company’s 50 day simple moving average is $107.00 and its 200-day simple moving average is $98.40. The firm has a market capitalization of $2.72 billion, a PE ratio of 24.40 and a beta of 0.38.

Palomar (NASDAQ:PLMR) last announced its earnings results on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.20. Palomar had a net margin of 21.55% and a return on equity of 19.65%. The firm had revenue of $148.50 million for the quarter, compared to analyst estimates of $134.72 million. During the same quarter last year, the business earned $0.80 earnings per share. As a group, sell-side analysts anticipate that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PLMR. Piper Sandler increased their target price on shares of Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Jefferies Financial Group increased their target price on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price target 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. Finally, Keefe, Bruyette & Woods increased their price target 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. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $115.50.

Institutional Trading of Palomar

A number of hedge funds have recently bought and sold shares of PLMR. State of New Jersey Common Pension Fund D acquired a new stake in Palomar during the second quarter worth approximately $1,790,000. Envestnet Asset Management Inc. raised its stake in Palomar by 22.4% during the second quarter. Envestnet Asset Management Inc. now owns 30,870 shares of the company’s stock worth $2,505,000 after purchasing an additional 5,646 shares during the period. Dimensional Fund Advisors LP raised its stake in Palomar by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 508,870 shares of the company’s stock worth $41,295,000 after purchasing an additional 66,478 shares during the period. Hsbc Holdings PLC raised its stake in Palomar by 43.1% during the second quarter. Hsbc Holdings PLC now owns 12,889 shares of the company’s stock worth $1,044,000 after purchasing an additional 3,879 shares during the period. Finally, Intech Investment Management LLC purchased a new position in Palomar during the second quarter worth approximately $351,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

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.