Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells $57,040.00 in Stock

Palomar Holdings, Inc. (NASDAQ: PLMR – Get a rating) CFO T Christophe Uchida sold 1,000 shares in a trade dated Wednesday, July 20. The stock was sold at an average price of $57.04, for a total transaction of $57,040.00. Following the sale, the CFO now owns 25,925 shares of the company, valued at approximately $1,478,762. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website.

Palomar shares down 4.2%

The NASDAQ PLMR fell $2.52 on Friday, hitting $57.99. The stock recorded trading volume of 76,119 shares, compared to an average trading volume of 94,521 shares. Palomar Holdings, Inc. has a one-year low of $44.01 and a one-year high of $97.18. The stock has a market capitalization of $1.46 billion, a price-earnings ratio of 34.48 and a beta of 0.18. The company’s 50-day moving average is $61.05 and its two-hundred-day moving average is $58.65.

Palomar (NASDAQ:PLMR – Get a rating) last reported results on Wednesday, May 4. The company reported EPS of $0.68 for the quarter, beating the consensus estimate of $0.62 by $0.06. Palomar had a net margin of 15.82% and a return on equity of 13.53%. The company posted revenue of $79.39 million in the quarter, compared to $76.89 million expected by analysts. In the same quarter of the previous year, the company achieved EPS of $0.73. On average, sell-side analysts expect Palomar Holdings, Inc. to post earnings per share of 2.87 for the current year.

A Wall Street analyst gives his opinion

Several research firms have recently studied the PLMR. Barclays lowered its price target on Palomar shares from $85.00 to $72.00 and set an “overweight” rating on the stock in a Thursday July 14 research note. Piper Sandler upgraded Palomar shares from a “neutral” rating to an “overweight” rating and set a $70.00 price target on the stock in a Wednesday, June 22 research note. Finally, TheStreet upgraded Palomar’s shares from a “c” rating to a “b-” rating in a Monday, April 18 research note. Five analysts rated the stock with a buy rating. According to, Palomar currently has an average rating of “Buy” and a consensus target price of $78.20.

Institutional entries and exits

Several institutional investors and hedge funds have recently changed their positions in the stock. Ziegler Capital Management LLC increased its holdings of Palomar shares by 17.7% in the second quarter. Ziegler Capital Management LLC now owns 184,564 shares of the company valued at $11,886,000 after acquiring an additional 27,810 shares last quarter. Atwood & Palmer Inc. increased its holdings of Palomar stock by 85.7% in the second quarter. Atwood & Palmer Inc. now owns 650 shares of the company valued at $42,000 after acquiring 300 additional shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Palomar in the second quarter worth about $262,000. Diversified Trust Co increased its holdings of Palomar shares by 11.1% in the second quarter. Diversified Trust Co now owns 5,175 shares of the company valued at $333,000 after acquiring 519 additional shares in the last quarter. Finally, the Alaska State Department of Revenue increased its holdings of Palomar stock by 7.7% in the second quarter. The Alaska State Department of Revenue now owns 18,093 shares of the company valued at $1,165,000 after acquiring 1,295 additional shares in the last quarter. 89.41% of the shares are currently held by institutional investors.

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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