Palomar (NASDAQ:PLMR) CFO T Christopher Uchida Sells 783 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 783 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $128.04, for a total value of $100,255.32. Following the completion of the sale, the chief financial officer owned 14,752 shares in the company, valued at approximately $1,888,846.08. The trade was a 5.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Saturday, January 31st, T Christopher Uchida sold 545 shares of Palomar stock. The stock was sold at an average price of $121.74, for a total value 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 value of $161,825.04.
• On Thursday, January 29th, T Christopher Uchida sold 1,326 shares of Palomar stock. The shares were sold at an average price of $122.04, for a total value 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 Price Performance

Shares of PLMR stock traded down $2.81 during trading hours on Friday, reaching $120.61. 332,759 shares of the stock were exchanged, compared to its average volume of 275,399. The business’s fifty day moving average is $129.40 and its two-hundred day moving average is $123.10. The firm has a market capitalization of $3.20 billion, a P/E ratio of 16.80 and a beta of 0.44. Palomar Holdings, Inc. has a 12-month low of $107.75 and a 12-month high of $175.85.

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

Analyst Upgrades and Downgrades

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

Institutional Trading of Palomar

Several institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada boosted 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 purchasing an additional 974 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 during the period. NewEdge Advisors LLC acquired a new stake in shares of Palomar during the first quarter worth about $66,000. United Services Automobile Association acquired a new stake in shares of Palomar during the first quarter worth about $223,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Palomar by 11.9% during the first 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 during the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Palomar Company Profile

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.