Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells $164,500.00 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 1,750 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $94.00, for a total transaction of $164,500.00. Following the sale, the chief financial officer now directly owns 22,344 shares of the company’s stock, valued at approximately $2,100,336. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, July 17th, T Christopher Uchida sold 1,000 shares of Palomar stock. The stock was sold at an average price of $91.30, for a total value of $91,300.00.
• On Thursday, June 20th, T Christopher Uchida sold 1,000 shares of Palomar stock. The shares were sold at an average price of $80.32, for a total value of $80,320.00.
• On Monday, May 20th, T Christopher Uchida sold 1,250 shares of Palomar stock. The stock was sold at an average price of $89.00, for a total value of $111,250.00.
• On Wednesday, May 15th, T Christopher Uchida sold 1,000 shares of Palomar stock. The shares were sold at an average price of $83.19, for a total value of $83,190.00.

Palomar Stock Performance

PLMR traded up $1.95 during trading on Wednesday, reaching $94.94. 166,365 shares of the company’s stock were exchanged, compared to its average volume of 157,526. The company’s fifty day moving average price is $85.25 and its 200-day moving average price is $79.10. The firm has a market capitalization of $2.37 billion, a PE ratio of 27.28 and a beta of 0.31. Palomar Holdings, Inc. has a fifty-two week low of $48.08 and a fifty-two week high of $96.44.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings data on Monday, August 5th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.16. Palomar had a return on equity of 19.94% and a net margin of 21.78%. The business had revenue of $123.08 million during the quarter, compared to analysts’ expectations of $338.74 million. During the same period in the previous year, the firm earned $0.72 earnings per share. The firm’s quarterly revenue was up 47.0% compared to the same quarter last year. Research analysts forecast that Palomar Holdings, Inc. will post 4.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PLMR shares. Truist Financial raised their price objective on shares of Palomar from $97.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Piper Sandler raised their price target on shares of Palomar from $99.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price objective on Palomar from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods lifted their target price on Palomar from $93.00 to $96.00 and gave the company an “outperform” rating in a research note on Wednesday, May 29th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a research note on Monday, April 15th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.50.

Institutional Trading of Palomar

A number of hedge funds have recently modified their holdings of PLMR. Texas Permanent School Fund Corp raised its stake in Palomar by 5.5% during the 2nd quarter. Texas Permanent School Fund Corp now owns 22,835 shares of the company’s stock worth $1,853,000 after buying an additional 1,191 shares during the period. Gallacher Capital Management LLC acquired a new stake in shares of Palomar during the second quarter worth about $309,000. Arizona State Retirement System lifted its holdings in shares of Palomar by 2.4% during the 2nd quarter. Arizona State Retirement System now owns 6,961 shares of the company’s stock valued at $565,000 after purchasing an additional 164 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Palomar by 1,634.6% in the 2nd quarter. Victory Capital Management Inc. now owns 177,678 shares of the company’s stock valued at $14,419,000 after purchasing an additional 167,435 shares during the period. Finally, Rhumbline Advisers increased its stake in Palomar by 1.4% during the 2nd quarter. Rhumbline Advisers now owns 68,490 shares of the company’s stock worth $5,558,000 after purchasing an additional 947 shares in the last quarter. 90.25% of the stock is currently 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.