T Christopher Uchida Sells 500 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) CFO T Christopher Uchida sold 500 shares of Palomar stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $158.69, for a total value of $79,345.00. Following the completion of the transaction, the chief financial officer now owns 7,420 shares of the company's stock, valued at approximately $1,177,479.80. This represents a 6.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, May 21st, T Christopher Uchida sold 500 shares of Palomar stock. The stock was sold at an average price of $159.77, for a total value of $79,885.00.
• On Wednesday, April 16th, T Christopher Uchida sold 500 shares of Palomar stock. The stock was sold at an average price of $153.04, for a total value of $76,520.00.
• On Monday, April 14th, T Christopher Uchida sold 1,000 shares of Palomar stock. The stock was sold at an average price of $150.24, for a total value of $150,240.00.
• On Wednesday, April 9th, T Christopher Uchida sold 1,000 shares of Palomar stock. The stock was sold at an average price of $144.00, for a total value of $144,000.00.
• On Monday, March 31st, T Christopher Uchida sold 1,000 shares of Palomar stock. The stock was sold at an average price of $139.00, for a total value of $139,000.00.

Palomar Trading Down 2.7%

NASDAQ:PLMR traded down $4.24 during midday trading on Wednesday, hitting $155.16. 299,282 shares of the company were exchanged, compared to its average volume of 209,111. Palomar Holdings, Inc. has a fifty-two week low of $77.28 and a fifty-two week high of $175.85. The company has a market capitalization of $4.15 billion, a PE ratio of 30.13 and a beta of 0.50. The company has a fifty day simple moving average of $157.02 and a 200 day simple moving average of $130.95.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.26. Palomar had a return on equity of 20.56% and a net margin of 21.99%. The company had revenue of $174.63 million for the quarter, compared to analyst estimates of $161.97 million. During the same quarter last year, the company posted $1.09 earnings per share. As a group, equities research analysts expect that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Institutional Trading of Palomar

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers increased its position in shares of Palomar by 1.2% during the first quarter. Rhumbline Advisers now owns 69,865 shares of the company's stock worth $9,577,000 after purchasing an additional 816 shares in the last quarter. Strs Ohio acquired a new stake in shares of Palomar during the first quarter worth about $1,124,000. Intech Investment Management LLC increased its position in shares of Palomar by 6.9% during the first quarter. Intech Investment Management LLC now owns 20,323 shares of the company's stock worth $2,786,000 after purchasing an additional 1,317 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Palomar during the first quarter worth about $4,723,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Palomar by 11.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,661 shares of the company's stock valued at $9,960,000 after buying an additional 7,754 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Evercore ISI boosted their target price on Palomar from $163.00 to $168.00 and gave the stock an "in-line" rating in a report on Friday, May 30th. JPMorgan Chase & Co. upgraded Palomar from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $115.00 to $150.00 in a report on Tuesday, April 8th. Keefe, Bruyette & Woods lowered their target price on Palomar from $155.00 to $145.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Truist Financial boosted their target price on Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a report on Tuesday, April 15th. Finally, Jefferies Financial Group boosted their target price on Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Palomar currently has an average rating of "Moderate Buy" and a consensus price target of $164.33.

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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