Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells $112,939.50 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 1,030 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $109.65, for a total transaction of $112,939.50. Following the transaction, the chief financial officer now directly owns 16,258 shares in the company, valued at approximately $1,782,689.70. This represents a 5.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

Palomar 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 has a market capitalization of $2.72 billion, a price-to-earnings ratio of 24.40 and a beta of 0.38. The firm’s fifty day moving average price is $107.00 and its 200 day moving average price is $98.40.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.20. The company had revenue of $148.50 million during the quarter, compared to analyst estimates of $134.72 million. Palomar had a net margin of 21.55% and a return on equity of 19.65%. During the same period last year, the business earned $0.80 EPS. Analysts forecast that Palomar Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PLMR. State of New Jersey Common Pension Fund D acquired a new position in Palomar during the 2nd quarter worth $1,790,000. Envestnet Asset Management Inc. grew its holdings in Palomar by 22.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 30,870 shares of the company’s stock worth $2,505,000 after acquiring an additional 5,646 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Palomar by 15.0% during the 2nd 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. Hsbc Holdings PLC grew its holdings in Palomar by 43.1% during the 2nd quarter. Hsbc Holdings PLC now owns 12,889 shares of the company’s stock worth $1,044,000 after acquiring an additional 3,879 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in Palomar during the 2nd quarter worth $351,000. 90.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PLMR. Keefe, Bruyette & Woods raised their target price on shares of Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Jefferies Financial Group raised their target price on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Piper Sandler raised their target price on shares of Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. raised 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. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.50.

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.