Insider Selling: Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells 864 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 864 shares of the firm’s stock in a transaction dated Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total transaction of $91,463.04. Following the completion of the sale, the chief financial officer now owns 17,288 shares of the company’s stock, valued at $1,830,107.68. This trade represents a 4.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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 stock was sold at an average price of $110.85, for a total transaction 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 value 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 value of $100,579.50.

Palomar Price Performance

Shares of Palomar stock opened at $104.81 on Friday. Palomar Holdings, Inc. has a 1 year low of $54.81 and a 1 year high of $112.90. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 24.90 and a beta of 0.36. The firm’s 50-day moving average is $103.86 and its two-hundred day moving average is $95.96.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.20. The company had revenue of $148.50 million for the quarter, compared to analyst estimates of $134.72 million. Palomar had a net margin of 21.55% and a return on equity of 19.65%. During the same period last year, the company posted $0.80 earnings per share. On average, equities analysts expect that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. purchased a new position in Palomar in the third quarter valued at about $25,000. GAMMA Investing LLC boosted its holdings in shares of Palomar by 48.6% in the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after buying an additional 125 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Palomar by 490.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $43,000 after buying an additional 378 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Palomar during the 2nd quarter worth approximately $49,000. Finally, Covestor Ltd lifted its position in Palomar by 20.2% during the third quarter. Covestor Ltd now owns 1,076 shares of the company’s stock valued at $102,000 after acquiring an additional 181 shares during the last quarter. 90.25% of the stock is owned by 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.