Insider Selling: Palomar Holdings, Inc. (NASDAQ:PLMR) CFO Sells $173,250.00 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) CFO T Christopher Uchida sold 1,750 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $99.00, for a total value of $173,250.00. Following the completion of the transaction, the chief financial officer now directly owns 20,594 shares of the company's stock, valued at approximately $2,038,806. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Tuesday, August 6th, T Christopher Uchida sold 1,750 shares of Palomar stock. The stock was sold at an average price of $94.00, for a total transaction of $164,500.00.
• On Wednesday, July 17th, T Christopher Uchida sold 1,000 shares of Palomar stock. The stock was sold at an average price of $91.30, for a total value of $91,300.00.
• On Thursday, June 20th, T Christopher Uchida sold 1,000 shares of Palomar stock. The shares were sold at an average price of $80.32, for a total transaction of $80,320.00.

Palomar Price Performance

Shares of PLMR stock traded up $1.65 during trading hours on Friday, reaching $99.04. The company had a trading volume of 146,239 shares, compared to its average volume of 167,451. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 27.99 and a beta of 0.31. The company has a 50 day moving average of $87.19 and a 200 day moving average of $81.55. Palomar Holdings, Inc. has a 1-year low of $48.08 and a 1-year high of $99.23.

Palomar (NASDAQ:PLMR - Get Free Report) last released its quarterly earnings results on Monday, August 5th. The company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.16. The company had revenue of $123.08 million for the quarter, compared to analyst estimates of $338.74 million. Palomar had a return on equity of 20.83% and a net margin of 21.63%. Palomar's revenue was up 47.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 earnings per share. As a group, sell-side analysts forecast that Palomar Holdings, Inc. will post 4.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PLMR. Arizona State Retirement System increased its holdings in shares of Palomar by 2.4% during the 2nd quarter. Arizona State Retirement System now owns 6,961 shares of the company's stock worth $565,000 after acquiring an additional 164 shares during the last quarter. CWM LLC grew its stake in Palomar by 15.7% in the 2nd quarter. CWM LLC now owns 1,601 shares of the company's stock valued at $130,000 after buying an additional 217 shares during the last quarter. Signaturefd LLC lifted its position in Palomar by 59.4% during the fourth quarter. Signaturefd LLC now owns 593 shares of the company's stock worth $33,000 after acquiring an additional 221 shares during the last quarter. Covestor Ltd lifted its position in Palomar by 29.0% during the first quarter. Covestor Ltd now owns 1,183 shares of the company's stock worth $99,000 after acquiring an additional 266 shares during the last quarter. Finally, Conestoga Capital Advisors LLC boosted its holdings in shares of Palomar by 1.0% during the first quarter. Conestoga Capital Advisors LLC now owns 27,407 shares of the company's stock worth $2,298,000 after acquiring an additional 270 shares during the period. 90.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their target price on Palomar from $88.00 to $91.00 and gave the stock a "neutral" rating in a report on Thursday, July 11th. Piper Sandler increased their target price on Palomar from $99.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday, August 7th. Truist Financial lifted their price target on Palomar from $100.00 to $112.00 and gave the company a "buy" rating in a report on Thursday, August 8th. Keefe, Bruyette & Woods raised their price objective on shares of Palomar from $96.00 to $113.00 and gave the company an "outperform" rating in a research report on Tuesday, August 13th. Finally, Evercore ISI boosted their target price on shares of Palomar from $90.00 to $99.00 and gave the stock an "in-line" rating in a research note on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $101.33.

About Palomar

Palomar Holdings, Inc, a specialty insurance company, provides property and casualty insurance to residential and businesses in the United States. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, fronting, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance.

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