Palomar (NASDAQ:PLMR) CFO Sells $100,255.32 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 783 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $128.04, for a total transaction of $100,255.32. Following the completion of the sale, the chief financial officer directly owned 14,752 shares of the company’s stock, valued at approximately $1,888,846.08. The trade was a 5.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Saturday, January 31st, T Christopher Uchida sold 545 shares of Palomar stock. The shares were sold at an average price of $121.74, for a total transaction of $66,348.30.
• On Thursday, January 29th, T Christopher Uchida sold 1,326 shares of Palomar stock. The stock was sold at an average price of $122.04, for a total transaction of $161,825.04.
• On Thursday, January 29th, T Christopher Uchida sold 1,326 shares of Palomar stock. The stock was sold at an average price of $122.04, for a total transaction of $161,825.04.
• On Wednesday, January 28th, T Christopher Uchida sold 2,103 shares of Palomar stock. The stock was sold at an average price of $119.88, for a total value of $252,107.64.

Palomar Trading Down 2.3%

NASDAQ:PLMR traded down $2.81 during trading hours on Friday, hitting $120.61. 332,759 shares of the stock were exchanged, compared to its average volume of 275,399. The firm’s fifty day moving average price is $129.40 and its 200 day moving average price is $123.10. Palomar Holdings, Inc. has a 52-week low of $107.75 and a 52-week high of $175.85. The company has a market cap of $3.20 billion, a P/E ratio of 16.80 and a beta of 0.44.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.18. The firm had revenue of $492.63 million for the quarter, compared to analyst estimates of $204.58 million. Palomar had a return on equity of 22.77% and a net margin of 22.50%.The business’s revenue was up 62.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 earnings per share. Equities analysts expect that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Palomar

A number of institutional investors have recently modified their holdings of PLMR. Royal Bank of Canada lifted its stake in Palomar by 49.1% during the 1st quarter. Royal Bank of Canada now owns 2,956 shares of the company’s stock worth $406,000 after acquiring an additional 974 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Palomar by 5.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,427 shares of the company’s stock valued at $2,115,000 after purchasing an additional 791 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in Palomar during the 1st quarter worth approximately $66,000. United Services Automobile Association purchased a new stake in Palomar during the 1st quarter worth approximately $223,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Palomar by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,661 shares of the company’s stock worth $9,960,000 after buying an additional 7,754 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PLMR. Keefe, Bruyette & Woods upped their price objective on shares of Palomar from $170.00 to $171.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. JPMorgan Chase & Co. increased their price target on Palomar from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, January 7th. Weiss Ratings raised Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, January 14th. Wall Street Zen cut Palomar from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Evercore started coverage on shares of Palomar in a research report on Monday, February 9th. They set an “outperform” rating and a $150.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Palomar currently has a consensus rating of “Buy” and an average price target of $162.17.

About Palomar

Palomar Holdings, Inc (NASDAQ: PLMR) is a specialty insurance holding company focused on providing medical stop-loss coverage and related administrative services to self-funded employer health plans in the United States. The firm operates through two primary business segments—Medical Stop-Loss and Specialty Program Management—to deliver tailored risk protection and comprehensive program administration.

In its Medical Stop-Loss segment, Palomar underwrites excess and aggregate stop-loss policies designed to shield self-insured employers from catastrophic medical claims that exceed pre-determined retention levels.