Insider Selling: Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells $80,320.00 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 1,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $80.32, for a total value of $80,320.00. Following the completion of the sale, the chief financial officer now owns 24,094 shares in the company, valued at $1,935,230.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 transaction of $111,250.00.
• 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 transaction 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.

Palomar Stock Performance

NASDAQ PLMR opened at $78.03 on Thursday. Palomar Holdings, Inc. has a 1 year low of $48.08 and a 1 year high of $89.22. The business’s fifty day moving average is $82.30 and its two-hundred day moving average is $73.22. The stock has a market capitalization of $1.94 billion, a P/E ratio of 22.42 and a beta of 0.32.

Palomar (NASDAQ:PLMR) last announced its 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. The business had revenue of $108.39 million during the quarter, compared to the consensus estimate of $322.10 million. Palomar had a return on equity of 19.94% and a net margin of 21.78%. Palomar’s revenue was up 29.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 earnings per share. On average, research analysts forecast that Palomar Holdings, Inc. will post 4.2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PLMR shares. JMP Securities reiterated a “market perform” rating on shares of Palomar in a research report on Monday, April 15th. Keefe, Bruyette & Woods increased their target price on shares of Palomar from $93.00 to $96.00 and gave the company an “outperform” rating in a research report on Wednesday, May 29th. JPMorgan Chase & Co. downgraded shares of Palomar from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $79.00 to $85.00 in a research report on Monday, April 8th. Piper Sandler reissued an “overweight” rating and set a $99.00 target price (up previously from $90.00) on shares of Palomar in a report on Wednesday, May 29th. Finally, Jefferies Financial Group upgraded Palomar from a “hold” rating to a “buy” rating and lifted their price target for the company from $78.00 to $88.00 in a research report on Thursday, March 14th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Palomar has a consensus rating of “Moderate Buy” and an average price target of $92.83.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. NBW Capital LLC lifted its position in shares of Palomar by 0.5% in the 1st quarter. NBW Capital LLC now owns 95,222 shares of the company’s stock valued at $7,982,000 after acquiring an additional 448 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Palomar during the 1st quarter valued at $59,000. Silvercrest Asset Management Group LLC raised its position in shares of Palomar by 0.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 86,299 shares of the company’s stock valued at $7,234,000 after purchasing an additional 604 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Palomar by 122.2% in the first quarter. Lazard Asset Management LLC now owns 5,158 shares of the company’s stock worth $432,000 after buying an additional 2,837 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its holdings in shares of Palomar by 155.9% during the first quarter. Quadrature Capital Ltd now owns 22,773 shares of the company’s stock worth $1,906,000 after buying an additional 13,873 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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.