Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells $115,544.00 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 1,111 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $104.00, for a total value of $115,544.00. Following the transaction, the chief financial officer now owns 16,432 shares of the company’s stock, valued at approximately $1,708,928. This trade represents a 6.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, October 15th, T Christopher Uchida sold 1,030 shares of Palomar stock. The shares were sold at an average price of $97.65, for a total value of $100,579.50.
• On Friday, August 23rd, T Christopher Uchida sold 1,750 shares of Palomar stock. The shares were sold at an average price of $99.00, for a total value of $173,250.00.

Palomar Stock Performance

Shares of NASDAQ PLMR opened at $104.33 on Friday. The firm has a 50 day moving average price of $95.42 and a two-hundred day moving average price of $89.86. The stock has a market cap of $2.76 billion, a P/E ratio of 24.78 and a beta of 0.34. Palomar Holdings, Inc. has a 52-week low of $54.50 and a 52-week high of $107.00.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.20. The business had revenue of $148.50 million during the quarter, compared to the consensus estimate 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 prior year, the business posted $0.80 earnings per share. Analysts predict that Palomar Holdings, Inc. will post 4.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on PLMR shares. Evercore ISI lifted their price objective on shares of Palomar from $90.00 to $99.00 and gave the stock an “in-line” rating in a research note on Tuesday, August 6th. Truist Financial increased their target price on Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Keefe, Bruyette & Woods upped their price objective on shares of Palomar from $117.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Jefferies Financial Group raised their target price on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Piper Sandler upped their price target on shares of Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $109.00.

Hedge Funds Weigh In On Palomar

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. bought a new position in Palomar during the 3rd quarter worth approximately $25,000. GAMMA Investing LLC grew its stake in Palomar by 48.6% during the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $36,000 after purchasing an additional 125 shares during the period. Farther Finance Advisors LLC increased its holdings in Palomar by 490.9% in the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $43,000 after purchasing an additional 378 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Palomar in the second quarter valued at approximately $49,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Palomar during the 1st quarter worth approximately $59,000. 90.25% of the stock is 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.