Palomar (NASDAQ:PLMR) CFO Sells $100,255.32 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 783 shares of the firm’s stock in a transaction dated 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 directly owned 14,752 shares in the company, valued at $1,888,846.08. This trade represents a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 transaction of $66,348.30.
• 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 transaction of $161,825.04.
• 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 transaction of $161,825.04.
• On Wednesday, January 28th, T Christopher Uchida sold 2,103 shares of Palomar stock. The shares were sold at an average price of $119.88, for a total transaction of $252,107.64.

Palomar Price Performance

Shares of Palomar stock opened at $120.61 on Monday. The company’s 50 day moving average price is $129.40 and its two-hundred day moving average price is $123.22. 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 fifty-two week low of $107.75 and a fifty-two week high of $175.85.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.18. Palomar had a return on equity of 22.77% and a net margin of 22.50%.The company had revenue of $492.63 million during the quarter, compared to analysts’ expectations of $204.58 million. During the same period in the prior year, the company earned $1.52 EPS. Palomar’s revenue was up 62.7% compared to the same quarter last year. On average, analysts expect that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on PLMR shares. Keefe, Bruyette & Woods boosted their price target on Palomar from $170.00 to $171.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Wall Street Zen upgraded shares of Palomar from a “hold” rating to a “buy” rating in a research report on Saturday. Evercore began coverage on shares of Palomar in a report on Monday, February 9th. They set an “outperform” rating and a $150.00 target price on the stock. JPMorgan Chase & Co. raised their price target on shares of Palomar from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings upgraded shares of Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 14th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Palomar presently has an average rating of “Buy” and an average price target of $162.17.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV bought a new stake in shares of Palomar in the 4th quarter valued at $215,000. Summit Global Investments lifted its holdings in Palomar by 1.7% in the fourth quarter. Summit Global Investments now owns 4,646 shares of the company’s stock valued at $626,000 after buying an additional 79 shares during the period. Caitlin John LLC boosted its position in Palomar by 23,887.5% during the fourth quarter. Caitlin John LLC now owns 1,919 shares of the company’s stock valued at $259,000 after acquiring an additional 1,911 shares during the last quarter. State of Tennessee Department of Treasury grew its holdings in Palomar by 6.8% during the 4th quarter. State of Tennessee Department of Treasury now owns 15,275 shares of the company’s stock worth $1,888,000 after acquiring an additional 971 shares during the period. Finally, Mackenzie Financial Corp bought a new position in shares of Palomar in the 4th quarter worth about $854,000. 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.