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 the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $143.10, for a total value of $71,550.00. Following the completion of the sale, the chief financial officer owned 6,920 shares in the company, valued at $990,252. This represents a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, June 18th, T Christopher Uchida sold 500 shares of Palomar stock. The shares were sold at an average price of $158.69, for a total value of $79,345.00.
• On Wednesday, May 21st, T Christopher Uchida sold 500 shares of Palomar stock. The shares were sold at an average price of $159.77, for a total value of $79,885.00.

Palomar Price Performance

NASDAQ PLMR traded up $2.19 during midday trading on Wednesday, hitting $144.07. 337,569 shares of the company traded hands, compared to its average volume of 222,720. The company has a market cap of $3.85 billion, a PE ratio of 28.76 and a beta of 0.46. The company's 50-day simple moving average is $156.79 and its 200-day simple moving average is $136.69. Palomar Holdings, Inc. has a 52 week low of $82.55 and a 52 week high of $175.85.

Palomar (NASDAQ:PLMR - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.26. The business had revenue of $174.63 million for the quarter, compared to analysts' expectations of $161.97 million. Palomar had a return on equity of 20.56% and a net margin of 21.99%. During the same quarter last year, the firm earned $1.09 EPS. On average, research analysts predict that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Institutional Trading of Palomar

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp lifted its holdings in shares of Palomar by 63.2% during the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock valued at $52,000 after purchasing an additional 191 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Palomar by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 240,176 shares of the company's stock valued at $25,360,000 after purchasing an additional 9,624 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Palomar during the 4th quarter valued at $3,064,000. PNC Financial Services Group Inc. lifted its holdings in shares of Palomar by 26.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,165 shares of the company's stock valued at $545,000 after purchasing an additional 1,075 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Palomar by 16.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,832 shares of the company's stock valued at $827,000 after purchasing an additional 1,127 shares during the last quarter. Institutional investors own 90.25% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods cut their target price on Palomar from $205.00 to $204.00 and set an "outperform" rating on the stock in a research note on Monday, June 30th. Piper Sandler upped their target price on Palomar from $171.00 to $177.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Jefferies Financial Group upped their target price on Palomar from $145.00 to $168.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Evercore ISI upped their target price on Palomar from $163.00 to $168.00 and gave the company an "in-line" rating in a research note on Friday, May 30th. Finally, Wall Street Zen cut Palomar from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.17.

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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