Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida Sells 552 Shares

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

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

• On Friday, January 31st, T Christopher Uchida sold 390 shares of Palomar stock. The shares were 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 shares were 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 shares were sold at an average price of $101.69, for a total value of $40,065.86.
• On Wednesday, January 22nd, T Christopher Uchida sold 1,030 shares of Palomar stock. The shares were 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.

Palomar Stock Down 1.7 %

NASDAQ PLMR traded down $2.10 during midday trading on Thursday, hitting $120.76. The company had a trading volume of 300,095 shares, compared to its average volume of 172,485. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 26.96 and a beta of 0.38. The firm has a fifty day simple moving average of $108.89 and a two-hundred day simple moving average of $101.86. Palomar Holdings, Inc. has a fifty-two week low of $71.54 and a fifty-two week high of $128.38.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) for the quarter, topping 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, equities analysts predict that Palomar Holdings, Inc. will post 5.83 earnings per share for the current year.

Institutional Trading of Palomar

Several institutional investors have recently made changes to their positions in PLMR. American Century Companies Inc. boosted its position in shares of Palomar by 36.6% during the 4th quarter. American Century Companies Inc. now owns 785,419 shares of the company’s stock valued at $82,932,000 after acquiring an additional 210,523 shares in the last quarter. Norges Bank bought a new position in shares of Palomar in the fourth quarter worth about $20,637,000. Price T Rowe Associates Inc. MD raised its stake in shares of Palomar by 39.4% in the fourth 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 position in shares of Palomar in the third quarter worth about $10,994,000. Finally, Freestone Grove Partners LP bought a new position in shares of Palomar in the fourth quarter worth about $11,774,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Piper Sandler upped their price objective on Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. JMP Securities restated a “market perform” rating on shares of Palomar in a research note on Thursday, February 13th. Keefe, Bruyette & Woods raised their target price on shares of Palomar from $136.00 to $152.00 and gave the stock an “outperform” rating in a report on Tuesday. Truist Financial lifted their target price 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. Finally, JPMorgan Chase & Co. raised their price target on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $127.33.

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.