Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida Sells 1,000 Shares of Stock

Palomar Holdings, Inc. (NASDAQ:PLMR – Get Rating) CFO T Christopher Uchida sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $55.00, for a total value of $55,000.00. Following the sale, the chief financial officer now directly owns 25,108 shares of the company’s stock, valued at approximately $1,380,940. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Palomar Stock Performance

Shares of PLMR traded down $3.82 during mid-day trading on Friday, hitting $51.45. The company’s stock had a trading volume of 434,519 shares, compared to its average volume of 165,346. Palomar Holdings, Inc. has a one year low of $43.63 and a one year high of $95.20. The firm has a market capitalization of $1.29 billion, a PE ratio of 25.34 and a beta of 0.06. The stock’s 50-day moving average is $54.06 and its two-hundred day moving average is $65.06.

Palomar (NASDAQ:PLMR – Get Rating) last issued its earnings results on Wednesday, February 15th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. The firm had revenue of $83.37 million during the quarter, compared to analysts’ expectations of $86.32 million. Palomar had a return on equity of 17.13% and a net margin of 15.95%. Palomar’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period last year, the business earned $0.74 earnings per share. Analysts expect that Palomar Holdings, Inc. will post 3.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in Palomar by 5.1% in the third quarter. BlackRock Inc. now owns 3,785,943 shares of the company’s stock worth $316,959,000 after purchasing an additional 182,164 shares during the period. Vanguard Group Inc. lifted its position in Palomar by 3.3% in the third quarter. Vanguard Group Inc. now owns 2,217,070 shares of the company’s stock worth $185,612,000 after purchasing an additional 69,846 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Palomar by 0.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,600,319 shares of the company’s stock worth $103,061,000 after purchasing an additional 6,497 shares during the period. Nordea Investment Management AB lifted its position in Palomar by 1.6% in the second quarter. Nordea Investment Management AB now owns 1,240,561 shares of the company’s stock worth $76,033,000 after purchasing an additional 19,663 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its position in Palomar by 14.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,199,322 shares of the company’s stock worth $54,162,000 after purchasing an additional 147,566 shares during the period. 90.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PLMR has been the subject of a number of recent analyst reports. TheStreet cut Palomar from a “b-” rating to a “c+” rating in a research report on Tuesday, December 6th. Jefferies Financial Group initiated coverage on Palomar in a research report on Monday, December 12th. They set a “hold” rating and a $55.00 target price for the company. Keefe, Bruyette & Woods upped their target price on Palomar from $55.00 to $59.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 21st. Barclays upped their target price on Palomar from $57.00 to $59.00 and gave the stock an “overweight” rating in a research report on Friday, February 17th. Finally, Piper Sandler reduced their price objective on Palomar from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, December 19th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Palomar has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

About Palomar

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Palomar Holdings, Inc operates as an insurance holding company. The firm focuses on the residential and commercial earthquake markets in earthquake-exposed states such as California, Oregon, Washington and states with exposure to the New Madrid Seismic Zone. It offers property and casualty insurance.