Insider Selling: Palomar (NASDAQ:PLMR) CFO Sells $66,348.30 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) CFO T Christopher Uchida sold 545 shares of Palomar stock in a transaction on Saturday, January 31st. The stock was sold at an average price of $121.74, for a total transaction of $66,348.30. Following the completion of the transaction, the chief financial officer directly owned 14,005 shares in the company, valued at $1,704,968.70. This represents a 3.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Thursday, January 29th, T Christopher Uchida sold 1,326 shares of Palomar stock. The stock was sold at an average price of $122.04, for a total value of $161,825.04.
• On Thursday, January 29th, T Christopher Uchida sold 1,326 shares of Palomar stock. The shares were sold at an average price of $122.04, for a total value of $161,825.04.
• On Wednesday, January 28th, T Christopher Uchida sold 2,103 shares of Palomar stock. The stock was sold at an average price of $119.88, for a total value of $252,107.64.
• On Tuesday, November 18th, T Christopher Uchida sold 782 shares of Palomar stock. The stock was sold at an average price of $128.84, for a total value of $100,752.88.

Palomar Stock Up 0.9%

PLMR opened at $122.99 on Thursday. The company has a market cap of $3.26 billion, a P/E ratio of 19.19 and a beta of 0.44. The firm’s 50-day moving average price is $127.61 and its 200-day moving average price is $123.44. Palomar Holdings, Inc. has a 52-week low of $107.01 and a 52-week high of $175.85.

Palomar (NASDAQ:PLMR) last released its earnings results on Thursday, November 6th. The company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.45. The company had revenue of $244.66 million for the quarter, compared to the consensus estimate of $207.98 million. Palomar had a net margin of 22.59% and a return on equity of 21.93%. During the same quarter in the previous year, the firm earned $1.23 EPS. On average, research analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PLMR has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their price target on Palomar from $170.00 to $171.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. JPMorgan Chase & Co. lifted their target price on Palomar from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, January 7th. Weiss Ratings upgraded Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, January 14th. Finally, Wall Street Zen raised shares of Palomar from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Palomar has an average rating of “Moderate Buy” and an average target price of $159.50.

Institutional Trading of Palomar

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. increased its stake in shares of Palomar by 93.7% during the second quarter. Osaic Holdings Inc. now owns 19,370 shares of the company’s stock worth $2,933,000 after purchasing an additional 9,371 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in Palomar during the 3rd quarter worth approximately $1,459,000. Sumitomo Mitsui Trust Group Inc. increased its stake in Palomar by 11.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 456,172 shares of the company’s stock worth $53,258,000 after buying an additional 45,665 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in shares of Palomar by 434.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 36,496 shares of the company’s stock valued at $4,261,000 after acquiring an additional 29,669 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. purchased a new position in shares of Palomar in the third quarter valued at approximately $2,452,000. 90.25% of the stock is owned by institutional investors and hedge funds.

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.