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

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 782 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $128.84, for a total value of $100,752.88. Following the transaction, the chief financial officer directly owned 7,916 shares of the company’s stock, valued at approximately $1,019,897.44. The trade was a 8.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Palomar Price Performance

PLMR stock traded up $0.91 during trading on Friday, reaching $122.57. 43,705 shares of the company were exchanged, compared to its average volume of 291,624. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 21.54 and a beta of 0.25. The company has a 50-day moving average of $117.99 and a two-hundred day moving average of $134.40. Palomar Holdings, Inc. has a twelve month low of $98.42 and a twelve month high of $175.85.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings results on Friday, December 16th. The company reported $0.07 earnings per share (EPS) for the quarter. The company had revenue of $65.74 million during the quarter. Palomar had a net margin of 22.71% and a return on equity of 20.35%. On average, analysts forecast that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Hedge Funds Weigh In On Palomar

A number of large investors have recently modified their holdings of PLMR. Danske Bank A S acquired a new position in Palomar during the third quarter worth $9,503,000. Advisory Services Network LLC acquired a new stake in shares of Palomar in the 3rd quarter worth about $57,000. Armistice Capital LLC bought a new position in Palomar in the 3rd quarter valued at about $299,000. CANADA LIFE ASSURANCE Co increased its holdings in Palomar by 2.0% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 27,439 shares of the company’s stock worth $3,139,000 after purchasing an additional 538 shares in the last quarter. Finally, Woodline Partners LP purchased a new stake in shares of Palomar in the third quarter worth approximately $11,543,000. 90.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PLMR. Weiss Ratings restated a “hold (c+)” rating on shares of Palomar in a research report on Wednesday, October 8th. Wall Street Zen upgraded Palomar from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Piper Sandler dropped their price objective on Palomar from $177.00 to $151.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 6th. Keefe, Bruyette & Woods raised their target price on Palomar from $164.00 to $170.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 11th. Finally, Evercore ISI reduced their price objective on shares of Palomar from $168.00 to $134.00 and set an “in-line” rating for the company in a research report on Wednesday, October 1st. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $157.67.

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.