Palomar (NASDAQ:PLMR) CFO Sells $252,107.64 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 2,103 shares of the company’s stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $119.88, for a total transaction of $252,107.64. Following the completion of the sale, the chief financial officer directly owned 11,473 shares of the company’s stock, valued at $1,375,383.24. The trade was a 15.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, November 18th, T Christopher Uchida sold 782 shares of Palomar stock. The shares were sold at an average price of $128.84, for a total value of $100,752.88.

Palomar Price Performance

NASDAQ PLMR traded up $0.38 on Friday, hitting $123.59. 266,025 shares of the stock were exchanged, compared to its average volume of 191,596. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 19.28 and a beta of 0.42. The company’s 50-day moving average price is $127.64 and its two-hundred day moving average price is $124.07. Palomar Holdings, Inc. has a 52-week low of $104.47 and a 52-week high of $175.85.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Thursday, November 6th. The company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.45. The business had revenue of $244.66 million for the quarter, compared to the consensus estimate of $207.98 million. Palomar had a net margin of 22.59% and a return on equity of 21.93%. During the same period in the prior year, the business posted $1.23 earnings per share. Equities analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Palomar

Large investors have recently bought and sold shares of the company. Salomon & Ludwin LLC acquired a new stake in shares of Palomar during the 3rd quarter worth approximately $25,000. Richardson Financial Services Inc. increased its holdings in Palomar by 210.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 217 shares of the company’s stock worth $25,000 after purchasing an additional 147 shares in the last quarter. Allworth Financial LP raised its holdings in Palomar by 1,970.0% in the 2nd quarter. Allworth Financial LP now owns 207 shares of the company’s stock valued at $32,000 after buying an additional 197 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in shares of Palomar during the fourth quarter valued at $32,000. Finally, Clearstead Advisors LLC lifted its holdings in Palomar by 31.0% during the 3rd quarter. Clearstead Advisors LLC now owns 397 shares of the company’s stock worth $46,000 after buying an additional 94 shares during the period. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PLMR shares. Keefe, Bruyette & Woods raised their target price on Palomar from $170.00 to $171.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Wall Street Zen upgraded Palomar from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Weiss Ratings raised Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, January 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Palomar from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, January 7th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $159.50.

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.