Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells $40,065.86 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 394 shares of the company’s stock in a transaction that occurred on Sunday, January 26th. The stock was sold at an average price of $101.69, for a total value of $40,065.86. Following the completion of the sale, the chief financial officer now owns 16,943 shares of the company’s stock, valued at $1,722,933.67. This trade represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, January 22nd, T Christopher Uchida sold 1,030 shares of Palomar stock. The stock was sold at an average price of $109.65, for a total value of $112,939.50.
• 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 value of $91,463.04.
• On Wednesday, December 18th, T Christopher Uchida sold 1,030 shares of Palomar stock. The stock was sold at an average price of $110.85, for a total value of $114,175.50.
• On Monday, November 11th, T Christopher Uchida sold 1,111 shares of Palomar stock. The stock was sold at an average price of $104.00, for a total transaction of $115,544.00.

Palomar Stock Performance

Shares of Palomar stock traded up $3.05 on Tuesday, reaching $109.29. 82,976 shares of the company’s stock were exchanged, compared to its average volume of 138,240. The firm’s 50-day moving average is $106.96 and its two-hundred day moving average is $99.14. Palomar Holdings, Inc. has a 52 week low of $57.55 and a 52 week high of $112.90. The company has a market capitalization of $2.89 billion, a P/E ratio of 25.96 and a beta of 0.38.

Palomar (NASDAQ:PLMR) last released its earnings results on Monday, November 4th. The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.20. Palomar had a return on equity of 19.65% and a net margin of 21.55%. The company had revenue of $148.50 million for the quarter, compared to analysts’ expectations of $134.72 million. During the same period in the previous year, the business posted $0.80 EPS. On average, analysts expect that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PLMR has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Piper Sandler lifted their price objective on Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods upped their price target on Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Jefferies Financial Group upped their price target on shares of Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $115.50.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PLMR. Envestnet Asset Management Inc. boosted its holdings in Palomar by 22.4% in the second quarter. Envestnet Asset Management Inc. now owns 30,870 shares of the company’s stock valued at $2,505,000 after acquiring an additional 5,646 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Palomar by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 508,870 shares of the company’s stock valued at $41,295,000 after acquiring an additional 66,478 shares in the last quarter. Sei Investments Co. raised its holdings in Palomar by 12.0% in the second quarter. Sei Investments Co. now owns 82,338 shares of the company’s stock worth $6,682,000 after buying an additional 8,837 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in Palomar by 4.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 37,833 shares of the company’s stock worth $3,070,000 after acquiring an additional 1,444 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Palomar by 17.7% during the second quarter. AQR Capital Management LLC now owns 44,691 shares of the company’s stock valued at $3,627,000 after purchasing an additional 6,735 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

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.