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

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 791 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $127.74, for a total transaction of $101,042.34. Following the completion of the sale, the chief financial officer directly owned 16,238 shares of the company’s stock, valued at $2,074,242.12. The trade was a 4.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Palomar Stock Performance

Shares of Palomar stock traded up $1.99 during mid-day trading on Thursday, hitting $128.87. 180,148 shares of the stock were exchanged, compared to its average volume of 269,775. Palomar Holdings, Inc. has a 12 month low of $100.81 and a 12 month high of $147.62. The company has a 50-day simple moving average of $130.18 and a 200 day simple moving average of $123.84. 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 debt-to-equity ratio of 0.30, a quick ratio of 0.50 and a current ratio of 0.50.

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

Palomar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, August 19th. This represents a $1.80 annualized dividend and a yield of 1.4%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Palomar from $166.00 to $167.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Zacks Research cut shares of Palomar from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Evercore set a $152.00 target price on shares of Palomar in a research report on Friday, July 10th. Piper Sandler raised their price target on shares of Palomar from $132.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Palomar from $150.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Palomar currently has an average rating of “Moderate Buy” and a consensus price target of $162.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Two Sigma Securities LLC purchased a new stake in Palomar in the 2nd quarter worth about $441,000. Benjamin Edwards Inc. purchased a new stake in Palomar during the second quarter valued at about $310,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Palomar by 5.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 71,782 shares of the company’s stock valued at $9,073,000 after purchasing an additional 3,460 shares during the last quarter. Beacon Pointe Advisors LLC bought a new position in Palomar during the second quarter worth about $307,000. Finally, Empowered Funds LLC bought a new position in Palomar during the second quarter worth about $24,691,000. 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.