T Christopher Uchida Sells 864 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 864 shares of the company’s stock in a transaction on Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total value of $91,463.04. Following the transaction, the chief financial officer now directly owns 17,288 shares in the company, valued at $1,830,107.68. This represents a 4.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• 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 value 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.
• On Tuesday, October 15th, T Christopher Uchida sold 1,030 shares of Palomar stock. The stock was sold at an average price of $97.65, for a total transaction of $100,579.50.

Palomar Stock Up 0.4 %

Shares of Palomar stock traded up $0.43 during trading on Friday, hitting $104.81. 74,754 shares of the company were exchanged, compared to its average volume of 92,577. The firm has a 50 day moving average price of $103.86 and a 200 day moving average price of $95.96. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 24.90 and a beta of 0.36. Palomar Holdings, Inc. has a fifty-two week low of $54.81 and a fifty-two week high of $112.90.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PLMR shares. JPMorgan Chase & Co. lifted their price target on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Jefferies Financial Group lifted their price objective on Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Piper Sandler boosted their target price on Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Keefe, Bruyette & Woods raised their price target on Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $111.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in shares of Palomar by 1,634.6% in the second quarter. Victory Capital Management Inc. now owns 177,678 shares of the company’s stock valued at $14,419,000 after buying an additional 167,435 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Palomar in the 3rd quarter worth approximately $10,994,000. Soros Fund Management LLC acquired a new position in Palomar in the 3rd quarter valued at $9,467,000. Westfield Capital Management Co. LP lifted its stake in shares of Palomar by 24.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company’s stock worth $37,339,000 after purchasing an additional 77,552 shares during the period. Finally, Dimensional Fund Advisors LP boosted 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 worth $41,295,000 after purchasing an additional 66,478 shares during the last quarter. 90.25% of the stock is currently owned by hedge funds and other 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.