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

Key Points

• Palomar CFO T. Christopher Uchida sold 791 shares at an average price of $127.74, totaling $101,042.34. The sale covered tax-withholding obligations from vested equity awards, leaving him with 16,238 shares.
• Palomar shares recently traded at $128.87, while the company reported quarterly EPS of $2.36, exceeding analyst expectations of $2.19. Analysts maintain a “Moderate Buy” consensus with an average price target of $162.75.
• The company declared a quarterly dividend of $0.45 per share, equivalent to $1.80 annually and a 1.4% yield; institutional investors own approximately 90.25% of the stock.

Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) CFO T Christopher Uchida sold 791 shares of the company's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $127.74, for a total transaction of $101,042.34. Following the transaction, the chief financial officer owned 16,238 shares in the company, valued at $2,074,242.12. This represents a 4.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Palomar Stock Up 1.6%

Shares of PLMR stock traded up $1.99 on Thursday, reaching $128.87. 180,148 shares of the company were exchanged, compared to its average volume of 269,775. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.50 and a quick ratio of 0.50. The company has a 50-day moving average of $130.18 and a 200-day moving average of $123.84. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 17.32 and a beta of 0.40. Palomar Holdings, Inc. has a one year low of $100.81 and a one year high of $147.62.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its 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. The business had revenue of $314.42 million during the quarter, compared to analyst estimates of $621.52 million. Palomar had a return on equity of 23.28% and a net margin of 18.61%.During the same period in the previous year, the company posted $1.76 EPS. Analysts anticipate that Palomar Holdings, Inc. will post 9.14 earnings per share for the current year.

Palomar Announces Dividend

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

Institutional Trading of Palomar

Institutional investors and hedge funds have recently modified their holdings of the stock. Geneos Wealth Management Inc. purchased a new position in shares of Palomar during the fourth quarter valued at approximately $32,000. Kestra Advisory Services LLC purchased a new stake in Palomar in the 4th quarter valued at $33,000. Rockefeller Capital Management L.P. lifted its stake in Palomar by 81.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 294 shares of the company's stock valued at $40,000 after acquiring an additional 132 shares in the last quarter. Quantbot Technologies LP purchased a new position in Palomar during the 2nd quarter worth $43,000. Finally, Frazier Financial Advisors LLC purchased a new position in Palomar during the 2nd quarter worth $51,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their target price on Palomar from $166.00 to $167.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. Zacks Research lowered shares of Palomar from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 15th. Weiss Ratings upgraded shares of Palomar from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, June 18th. JPMorgan Chase & Co. raised their price objective on shares of Palomar from $150.00 to $167.00 and gave the company an "overweight" rating in a research note on Monday, July 20th. Finally, Evercore set a $152.00 price objective on shares of Palomar in a report on Friday, July 10th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Palomar has an average rating of "Moderate Buy" and an average price target of $162.75.

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.

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