Insider Selling: Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells $68,039.52 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 552 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $123.26, for a total transaction of $68,039.52. Following the transaction, the chief financial officer now owns 15,683 shares of the company’s stock, valued at approximately $1,933,086.58. The trade was a 3.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Friday, January 31st, T Christopher Uchida sold 390 shares of Palomar stock. The stock was sold at an average price of $104.47, for a total transaction of $40,743.30.
• On Wednesday, January 29th, T Christopher Uchida sold 507 shares of Palomar stock. The stock was sold at an average price of $108.34, for a total transaction of $54,928.38.
• On Sunday, January 26th, T Christopher Uchida sold 394 shares of Palomar stock. The stock was sold at an average price of $101.69, for a total transaction of $40,065.86.
• 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 transaction of $112,939.50.
• On Wednesday, January 1st, T Christopher Uchida sold 864 shares of Palomar stock. The stock was 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 stock was sold at an average price of $110.85, for a total transaction of $114,175.50.

Palomar Price Performance

Shares of Palomar stock opened at $119.07 on Friday. Palomar Holdings, Inc. has a 1 year low of $71.54 and a 1 year high of $128.38. The firm has a market cap of $3.15 billion, a PE ratio of 26.58 and a beta of 0.38. The company has a 50 day simple moving average of $109.08 and a two-hundred day simple moving average of $102.07.

Palomar (NASDAQ:PLMR) last announced its earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. As a group, research analysts anticipate that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on PLMR. Truist Financial boosted their price objective on shares of Palomar from $112.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Piper Sandler boosted their price objective on shares of Palomar from $133.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods boosted their price objective on shares of Palomar from $136.00 to $152.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a research note on Thursday, February 13th. Finally, 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 research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.33.

Institutional Investors Weigh In On Palomar

Several hedge funds have recently bought and sold shares of PLMR. American Century Companies Inc. lifted its holdings in shares of Palomar by 36.6% in the 4th quarter. American Century Companies Inc. now owns 785,419 shares of the company’s stock worth $82,932,000 after acquiring an additional 210,523 shares during the last quarter. Norges Bank bought a new stake in shares of Palomar in the 4th quarter worth approximately $20,637,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Palomar by 39.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 432,060 shares of the company’s stock worth $45,622,000 after acquiring an additional 122,057 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Palomar in the 3rd quarter worth approximately $10,994,000. Finally, Freestone Grove Partners LP bought a new stake in shares of Palomar in the 4th quarter worth approximately $11,774,000. 90.25% of the stock is currently owned by institutional investors.

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.