Palomar (NASDAQ:PLMR) CFO T Christopher Uchida Sells 791 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 791 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $127.74, for a total transaction of $101,042.34. Following the sale, the chief financial officer owned 16,238 shares in the company, valued at approximately $2,074,242.12. The trade was a 4.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Palomar Price Performance

Shares of PLMR opened at $128.87 on Friday. The company has a market capitalization of $3.39 billion, a P/E ratio of 17.32 and a beta of 0.40. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average of $130.45 and a 200 day moving average of $123.88. Palomar Holdings, Inc. has a twelve month low of $100.81 and a twelve month high of $147.62.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Tuesday, August 4th. The company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.17. Palomar had a return on equity of 23.28% and a net margin of 18.61%.The business had revenue of $314.42 million for the quarter, compared to analysts’ expectations of $621.52 million. During the same period in the prior year, the firm posted $1.76 EPS. As a group, equities research analysts anticipate that Palomar Holdings, Inc. will post 9.14 earnings per share for the current fiscal year.

Palomar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be paid a $0.45 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $1.80 annualized dividend and a dividend yield of 1.4%. Palomar’s payout ratio is currently 24.19%.

Wall Street Analyst Weigh In

Several research firms recently commented on PLMR. Piper Sandler increased their price objective on Palomar from $132.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Evercore set a $152.00 target price on Palomar in a research report on Friday, July 10th. Keefe, Bruyette & Woods upped their target price on shares of Palomar from $166.00 to $167.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Weiss Ratings raised shares of Palomar from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 18th. Finally, Zacks Research lowered shares of Palomar from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $162.75.

Hedge Funds Weigh In On Palomar

Hedge funds and other institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. bought a new stake in shares of Palomar in the fourth quarter worth $32,000. Kestra Advisory Services LLC bought a new position in Palomar in the fourth quarter valued at about $33,000. Rockefeller Capital Management L.P. boosted its position in Palomar by 81.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 294 shares of the company’s stock worth $40,000 after purchasing an additional 132 shares during the last quarter. Quantbot Technologies LP purchased a new position in Palomar in the second quarter worth about $43,000. Finally, Frazier Financial Advisors LLC bought a new stake in shares of Palomar during the 4th quarter valued at about $54,000. 90.25% of the stock is owned by institutional investors.

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.