Insider Sale: Palomar Holdings, Inc. (NASDAQ: PLMR) CFO Sells 1,000 Shares

Palomar Holdings, Inc. (NASDAQ: PLMR – Get a rating) CFO T Christophe Uchida sold 1,000 shares in a trade on Wednesday, August 17. The stock was sold at an average price of $78.00, for a total value of $78,000.00. Following the sale, the CFO now directly owns 23,425 shares of the company, valued at $1,827,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available via the SEC website.

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

  • On Monday August 15, T Christopher Uchida sold 1,000 shares of Palomar. The stock was sold at an average price of $79.00, for a total value of $79,000.00.
  • On Tuesday August 9, T Christopher Uchida sold 750 shares of Palomar. The stock was sold at an average price of $74.00, for a total value of $55,500.00.
  • On Thursday August 4, T Christopher Uchida sold 750 shares of Palomar. The shares were sold at an average price of $67.09, for a total value of $50,317.50.
  • On Wednesday, July 20, T Christopher Uchida sold 1,000 shares of Palomar. The shares were sold at an average price of $57.04, for a total value of $57,040.00.

Palomar trades down 2.1%

Shares of PLMR traded down $1.64 at midday Wednesday, hitting $77.89. The stock had a trading volume of 117,840 shares, compared to an average volume of 144,505. Palomar Holdings, Inc. has a 12-month low of $44.01 and a 12-month high of 97.18 $. The company has a market capitalization of $1.97 billion, a P/E ratio of 43.76 and a beta of 0.12. The company has a 50-day simple moving average of $63.54 and a 200-day simple moving average of $60.80.

Palomar (NASDAQ:PLMR – Get a rating) last announced its quarterly results on Wednesday, August 3. The company reported earnings per share of $0.73 for the quarter, beating consensus analyst estimates of $0.66 by $0.07. The company posted revenue of $84.40 million in the quarter, compared to $87.23 million expected by analysts. Palomar had a return on equity of 14.95% and a net margin of 15.41%. Research analysts expect Palomar Holdings, Inc. to post 3 EPS for the current year.

A Wall Street analyst gives his opinion

A number of equity research analysts have commented on PLMR shares. Keefe, Bruyette & Woods raised their target price on Palomar from $84.00 to $88.00 in a Sunday, August 7 report. Piper Sandler upgraded Palomar from a “neutral” rating to an “overweight” rating and set a target price of $70.00 for the company in a Wednesday, June 22 report. Finally, Barclays raised its price target on Palomar from $72.00 to $80.00 and gave the company an “overweight” rating in a Monday, August 8 report. Five analysts rated the stock with a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $81.17.

Palomar Institutional Trading

Hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Signaturefd LLC increased its position in Palomar by 133.6% during the 1st quarter. Signaturefd LLC now owns 528 shares of the company worth $34,000 after purchasing 302 additional shares in the last quarter. Atwood & Palmer Inc. increased its position in Palomar by 85.7% during the 2nd quarter. Atwood & Palmer Inc. now owns 650 shares of the company worth $42,000 after buying 300 more shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Palomar during the 4th quarter for a value of approximately $50,000. Lazard Asset Management LLC purchased a new stake in Palomar during Q1 worth approximately $55,000. Finally, Advisor Group Holdings Inc. increased its stake in Palomar by 172.0% in the 4th quarter. Advisor Group Holdings Inc. now owns 1,096 shares of the company valued at $71,000 after purchasing an additional 693 shares during the period. Hedge funds and other institutional investors own 89.41% of the company’s shares.

Palomar company profile

(Get a rating)

Palomar Holdings, Inc., an insurance holding company, provides specialty home insurance to residential and commercial customers. The Company offers specialty personal and commercial property insurance products, including residential and commercial earthquake, commercial all-peril, specialty homeowner, inland marine, Hawaii hurricane and residential flood, as well as other products, such as assumed reinsurance, commercial flood, real estate errors and omissions, and real estate investor products.

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