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

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

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

• On Friday, January 31st, T Christopher Uchida sold 390 shares of Palomar stock. The stock was sold at an average price of $104.47, for a total value 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 value of $54,928.38.
• On Sunday, January 26th, T Christopher Uchida sold 394 shares of Palomar stock. The stock was 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 stock was 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 stock was 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 Performance

Shares of Palomar stock traded down $2.10 on Thursday, hitting $120.76. The company’s stock had a trading volume of 300,095 shares, compared to its average volume of 172,485. Palomar Holdings, Inc. has a 1 year low of $71.54 and a 1 year high of $128.38. The firm has a fifty day moving average price of $108.89 and a 200-day moving average price of $101.86. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 26.96 and a beta of 0.38.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.24 by $0.13. Palomar had a return on equity of 19.76% and a net margin of 21.23%. As a group, analysts forecast that Palomar Holdings, Inc. will post 5.83 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PLMR shares. Piper Sandler increased their price target on Palomar from $133.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. JMP Securities reissued a “market perform” rating on shares of Palomar in a research note on Thursday, February 13th. Truist Financial increased their price target on Palomar from $112.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. increased their price target on Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods raised their price objective on Palomar from $136.00 to $152.00 and gave the company an “outperform” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.33.

Institutional Investors Weigh In On Palomar

Large investors have recently made changes to their positions in the stock. State Street Corp lifted its holdings in Palomar by 3.0% in the third quarter. State Street Corp now owns 1,097,702 shares of the company’s stock valued at $103,919,000 after acquiring an additional 32,151 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Palomar by 3.2% during the third quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock worth $56,822,000 after acquiring an additional 18,335 shares during the period. JPMorgan Chase & Co. increased its holdings in Palomar by 9.5% in the third quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company’s stock valued at $12,133,000 after buying an additional 11,140 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Palomar by 58.7% in the third quarter. Thrivent Financial for Lutherans now owns 32,837 shares of the company’s stock valued at $3,109,000 after buying an additional 12,147 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new position in Palomar in the third quarter valued at $1,711,000. 90.25% of the stock is currently owned by hedge funds and other 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.