Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells $76,300.00 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 1,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $76.30, for a total value of $76,300.00. Following the transaction, the chief financial officer now directly owns 25,344 shares of the company’s stock, valued at approximately $1,933,747.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, March 14th, T Christopher Uchida sold 2,500 shares of Palomar stock. The shares were sold at an average price of $81.99, for a total value of $204,975.00.
• On Monday, March 11th, T Christopher Uchida sold 2,000 shares of Palomar stock. The shares were sold at an average price of $73.43, for a total value of $146,860.00.
• On Friday, February 16th, T Christopher Uchida sold 750 shares of Palomar stock. The shares were sold at an average price of $74.36, for a total value of $55,770.00.
• On Wednesday, February 14th, T Christopher Uchida sold 1,000 shares of Palomar stock. The shares were sold at an average price of $59.45, for a total value of $59,450.00.
• On Wednesday, January 31st, T Christopher Uchida sold 381 shares of Palomar stock. The shares were sold at an average price of $59.19, for a total value of $22,551.39.
• On Saturday, January 27th, T Christopher Uchida sold 214 shares of Palomar stock. The shares were sold at an average price of $60.13, for a total value of $12,867.82.

Palomar Stock Performance

Shares of PLMR traded up $0.87 during midday trading on Thursday, hitting $77.77. 184,463 shares of the stock were exchanged, compared to its average volume of 157,189. Palomar Holdings, Inc. has a 52-week low of $46.09 and a 52-week high of $86.25. The stock has a fifty day simple moving average of $76.23 and a 200 day simple moving average of $63.76. The firm has a market cap of $1.94 billion, a P/E ratio of 24.93 and a beta of 0.21.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.09. The business had revenue of $102.35 million for the quarter, compared to analysts’ expectations of $95.07 million. Palomar had a return on equity of 19.35% and a net margin of 21.07%. As a group, equities research analysts forecast that Palomar Holdings, Inc. will post 3.84 EPS for the current fiscal year.

Institutional Trading of Palomar

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Palomar by 0.9% in the first quarter. BlackRock Inc. now owns 3,633,581 shares of the company’s stock valued at $232,512,000 after acquiring an additional 32,307 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Palomar by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 2,363,067 shares of the company’s stock valued at $131,150,000 after acquiring an additional 85,329 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Palomar by 0.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,600,319 shares of the company’s stock valued at $103,061,000 after acquiring an additional 6,497 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Palomar by 14.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,199,322 shares of the company’s stock valued at $54,162,000 after buying an additional 147,566 shares in the last quarter. Finally, Stephens Investment Management Group LLC raised its stake in Palomar by 11.3% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,076,606 shares of the company’s stock valued at $59,752,000 after buying an additional 109,261 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PLMR shares. Keefe, Bruyette & Woods increased their price target on Palomar from $88.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. lowered Palomar from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $79.00 to $85.00 in a research report on Monday, April 8th. JMP Securities reiterated a “market perform” rating on shares of Palomar in a research report on Monday. Truist Financial increased their price objective on Palomar from $72.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, Jefferies Financial Group upgraded Palomar from a “hold” rating to a “buy” rating and increased their price objective for the stock from $78.00 to $88.00 in a research report on Thursday, March 14th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Palomar currently has a consensus rating of “Moderate Buy” and an average target price of $87.50.

Palomar Company Profile

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.