T Christopher Uchida Sells 500 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 500 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $159.77, for a total value of $79,885.00. Following the completion of the sale, the chief financial officer now directly owns 7,920 shares of the company’s stock, valued at $1,265,378.40. The trade was a 5.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Wednesday, April 16th, T Christopher Uchida sold 500 shares of Palomar stock. The stock was sold at an average price of $153.04, for a total value of $76,520.00.
• On Monday, April 14th, T Christopher Uchida sold 1,000 shares of Palomar stock. The stock was sold at an average price of $150.24, for a total value of $150,240.00.
• On Wednesday, April 9th, T Christopher Uchida sold 1,000 shares of Palomar stock. The stock was sold at an average price of $144.00, for a total value of $144,000.00.
• On Monday, March 31st, T Christopher Uchida sold 1,000 shares of Palomar stock. The shares were sold at an average price of $139.00, for a total value of $139,000.00.

Palomar Stock Down 0.4%

Shares of NASDAQ PLMR opened at $160.82 on Friday. The firm has a market cap of $4.30 billion, a PE ratio of 35.90 and a beta of 0.51. The business has a 50 day moving average price of $146.26 and a two-hundred day moving average price of $123.24. Palomar Holdings, Inc. has a fifty-two week low of $77.28 and a fifty-two week high of $165.00.

Palomar (NASDAQ:PLMR) last issued its earnings results on Monday, May 5th. The company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.61 by $0.26. The company had revenue of $174.63 million during the quarter, compared to analyst estimates of $161.97 million. Palomar had a return on equity of 19.76% and a net margin of 21.23%. During the same quarter last year, the firm earned $1.09 EPS. On average, analysts anticipate that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PLMR. JPMorgan Chase & Co. raised Palomar from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $115.00 to $150.00 in a research note on Tuesday, April 8th. Piper Sandler raised their price target on Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Truist Financial raised their price objective on Palomar from $150.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 15th. Jefferies Financial Group raised their target price on Palomar from $145.00 to $168.00 and gave the company a “buy” rating in a report on Friday, April 11th. Finally, Keefe, Bruyette & Woods dropped their target price on Palomar from $155.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Palomar currently has an average rating of “Moderate Buy” and a consensus target price of $148.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. acquired a new position in Palomar during the 4th quarter valued at approximately $26,000. Nisa Investment Advisors LLC raised its stake in shares of Palomar by 185.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 311 shares of the company’s stock worth $43,000 after buying an additional 202 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Palomar in the 1st quarter worth $46,000. TCTC Holdings LLC raised its stake in shares of Palomar by 116.5% in the 1st quarter. TCTC Holdings LLC now owns 381 shares of the company’s stock worth $52,000 after buying an additional 205 shares in the last quarter. Finally, NBC Securities Inc. acquired a new stake in Palomar during the 1st quarter worth about $53,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

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.