T Christopher Uchida Sells 2,000 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) Stock

Posted by on Jun 3rd, 2023

Palomar Holdings, Inc. (NASDAQ:PLMR – Get Rating) CFO T Christopher Uchida sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $55.00, for a total transaction of $110,000.00. Following the completion of the transaction, the chief financial officer now directly owns 25,108 shares in the company, valued at $1,380,940. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

  • On Wednesday, March 15th, T Christopher Uchida sold 1,000 shares of Palomar stock. The shares were sold at an average price of $55.00, for a total transaction of $55,000.00.

Palomar Price Performance

NASDAQ:PLMR opened at $54.17 on Friday. The firm’s 50 day simple moving average is $51.72 and its 200 day simple moving average is $53.06. Palomar Holdings, Inc. has a one year low of $43.63 and a one year high of $95.20. The company has a market cap of $1.35 billion, a PE ratio of 25.20 and a beta of 0.03.

Palomar (NASDAQ:PLMR – Get Rating) last posted its earnings results on Wednesday, May 3rd. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. The business had revenue of $83.94 million for the quarter, compared to the consensus estimate of $88.35 million. Palomar had a net margin of 16.25% and a return on equity of 17.61%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same period last year, the company earned $0.68 EPS. Equities research analysts expect that Palomar Holdings, Inc. will post 3.28 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PLMR. UBS Group AG lifted its position in shares of Palomar by 7,440.0% in the 3rd quarter. UBS Group AG now owns 377 shares of the company’s stock worth $32,000 after purchasing an additional 372 shares during the period. FMR LLC lifted its position in shares of Palomar by 89.9% in the 1st quarter. FMR LLC now owns 864 shares of the company’s stock worth $48,000 after purchasing an additional 409 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Palomar in the 1st quarter worth approximately $55,000. Brown Brothers Harriman & Co. acquired a new position in shares of Palomar in the 4th quarter worth approximately $81,000. Finally, Advisor Group Holdings Inc. lifted its position in shares of Palomar by 34.1% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,470 shares of the company’s stock worth $94,000 after purchasing an additional 374 shares during the period. Institutional investors and hedge funds own 90.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on PLMR. Jefferies Financial Group raised their target price on shares of Palomar from $54.00 to $58.00 and gave the company a “hold” rating in a report on Monday, April 10th. Barclays lifted their price target on shares of Palomar from $59.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, April 5th. Keefe, Bruyette & Woods lifted their price target on shares of Palomar from $64.00 to $67.00 in a report on Wednesday. JPMorgan Chase & Co. decreased their price target on shares of Palomar from $75.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, March 31st. Finally, Evercore ISI lifted their price target on shares of Palomar from $52.00 to $57.00 and gave the company an “in-line” rating in a report on Thursday, April 13th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Palomar currently has a consensus rating of “Moderate Buy” and an average price target of $68.86.

Palomar Company Profile

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Palomar Holdings, Inc operates as an insurance holding company. The firm focuses on the residential and commercial earthquake markets in earthquake-exposed states such as California, Oregon, Washington and states with exposure to the New Madrid Seismic Zone. It offers property and casualty insurance.

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