T Christopher Uchida Sells 782 Shares of Palomar (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 782 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $120.13, for a total value of $93,941.66. Following the sale, the chief financial officer directly owned 7,668 shares in the company, valued at approximately $921,156.84. This represents a 9.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, August 20th, T Christopher Uchida sold 500 shares of Palomar stock. The stock was sold at an average price of $121.59, for a total value of $60,795.00.
• On Wednesday, July 16th, T Christopher Uchida sold 500 shares of Palomar stock. The stock was sold at an average price of $143.10, for a total value of $71,550.00.
• On Wednesday, June 18th, T Christopher Uchida sold 500 shares of Palomar stock. The stock was sold at an average price of $158.69, for a total value of $79,345.00.

Palomar Price Performance

NASDAQ PLMR opened at $125.05 on Friday. The firm has a market cap of $3.35 billion, a P/E ratio of 21.98 and a beta of 0.44. The stock’s 50-day moving average is $137.61 and its 200-day moving average is $140.68. Palomar Holdings, Inc. has a one year low of $85.00 and a one year high of $175.85.

Palomar (NASDAQ:PLMR) last released its quarterly earnings results on Monday, August 4th. The company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.08. The company had revenue of $496.29 million for the quarter, compared to analyst estimates of $173.86 million. Palomar had a return on equity of 20.35% and a net margin of 22.71%.Palomar’s revenue was up 47.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 earnings per share. Equities analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Hollencrest Capital Management increased its position in shares of Palomar by 56.5% during the 2nd quarter. Hollencrest Capital Management now owns 313 shares of the company’s stock worth $48,000 after purchasing an additional 113 shares during the last quarter. Public Sector Pension Investment Board increased its position in shares of Palomar by 8.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 91,179 shares of the company’s stock worth $14,064,000 after purchasing an additional 7,010 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Palomar by 1.9% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 26,901 shares of the company’s stock worth $4,147,000 after purchasing an additional 490 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Palomar by 247.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,733 shares of the company’s stock worth $422,000 after acquiring an additional 1,947 shares during the period. Finally, Florida Financial Advisors LLC boosted its stake in shares of Palomar by 62.7% during the 2nd quarter. Florida Financial Advisors LLC now owns 3,369 shares of the company’s stock worth $520,000 after acquiring an additional 1,298 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analyst Ratings Changes

PLMR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on Palomar from $170.00 to $158.00 and set an “overweight” rating on the stock in a research report on Monday, August 11th. Piper Sandler dropped their target price on Palomar from $177.00 to $151.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 6th. Evercore ISI lifted their target price on Palomar from $163.00 to $168.00 and gave the company an “in-line” rating in a research report on Friday, May 30th. Wall Street Zen lowered Palomar from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Finally, Keefe, Bruyette & Woods dropped their target price on Palomar from $204.00 to $172.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.83.

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.