Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida Sells 1,250 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 1,250 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $89.00, for a total transaction of $111,250.00. Following the transaction, the chief financial officer now owns 24,094 shares in the company, valued at $2,144,366. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, May 15th, T Christopher Uchida sold 1,000 shares of Palomar stock. The shares were sold at an average price of $83.19, for a total value of $83,190.00.
• On Wednesday, April 17th, T Christopher Uchida sold 1,000 shares of Palomar stock. The stock was sold at an average price of $76.30, for a total value of $76,300.00.
• On Thursday, March 14th, T Christopher Uchida sold 2,500 shares of Palomar stock. The shares were sold at an average price of $81.99, for a total value of $204,975.00.
• On Monday, March 11th, T Christopher Uchida sold 2,000 shares of Palomar stock. The shares were sold at an average price of $73.43, for a total transaction of $146,860.00.

Palomar Trading Down 1.0 %

PLMR opened at $82.63 on Wednesday. Palomar Holdings, Inc. has a 12 month low of $46.67 and a 12 month high of $89.22. The stock has a fifty day moving average price of $81.19 and a 200-day moving average price of $69.08. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 23.74 and a beta of 0.24.

Palomar (NASDAQ:PLMR) last released its quarterly earnings results on Thursday, May 2nd. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.81 by $0.28. Palomar had a net margin of 21.78% and a return on equity of 19.94%. The business had revenue of $108.39 million during the quarter, compared to analyst estimates of $322.10 million. During the same period in the prior year, the firm posted $0.80 earnings per share. The company’s quarterly revenue was up 29.1% on a year-over-year basis. On average, equities research analysts forecast that Palomar Holdings, Inc. will post 4.01 EPS for the current year.

Analyst Upgrades and Downgrades

PLMR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered shares of Palomar from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $79.00 to $85.00 in a report on Monday, April 8th. Evercore ISI boosted their price target on Palomar from $68.00 to $86.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods increased their price objective on Palomar from $88.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Piper Sandler upped their target price on Palomar from $89.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Finally, Jefferies Financial Group upgraded Palomar from a “hold” rating to a “buy” rating and raised their price target for the company from $78.00 to $88.00 in a research note on Thursday, March 14th. 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $89.17.

Institutional Investors Weigh In On Palomar

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Palomar by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 2,403,520 shares of the company’s stock valued at $201,487,000 after purchasing an additional 40,453 shares during the last quarter. Champlain Investment Partners LLC raised its stake in Palomar by 5.5% in the first quarter. Champlain Investment Partners LLC now owns 1,340,795 shares of the company’s stock valued at $112,399,000 after buying an additional 69,615 shares during the last quarter. Stephens Investment Management Group LLC boosted its holdings in Palomar by 11.3% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,076,606 shares of the company’s stock worth $59,752,000 after acquiring an additional 109,261 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Palomar by 1.0% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 954,290 shares of the company’s stock worth $52,963,000 after acquiring an additional 9,462 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in shares of Palomar by 6.3% during the fourth quarter. Westfield Capital Management Co. LP now owns 460,545 shares of the company’s stock valued at $25,560,000 after acquiring an additional 27,199 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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.