Investors following Palomar Holdings, Inc. (NASDAQ:PLMR) should note a recent transaction by the company's Chief Financial Officer, T Christopher Uchida. On May 20, 2024, Uchida sold 1,250 shares of Palomar common stock at a price of $89.00 per share, totaling $111,250. Post-transaction, Uchida's holdings in the company stand at 24,094 shares, which includes 1,666 shares acquired through the company's Employee Stock Purchase Plan.
This sale by a top executive may be of interest to current and potential shareholders as they evaluate the company's stock performance and insider confidence. It's worth noting that the sale took place without any reported equity swaps involved.
Palomar Holdings, Inc., based in La Jolla, California, operates in the insurance sector, specifically within fire, marine, and casualty insurance. The company's fiscal year ends on December 31, and it is incorporated in Delaware.
For those interested in the specifics of the transaction, the details were filed with the Securities and Exchange Commission and can be found in the public domain. The filing was signed by Angela Grant, Attorney-in-Fact, on May 21, 2024.
As always, insider transactions are closely watched by the market as they can provide insights into an executive's perspective on the company's future. However, it is important to consider a wide range of factors when making investment decisions.
InvestingPro Insights
Palomar Holdings, Inc. (NASDAQ:PLMR) has been making waves in the insurance sector, and recent insider activity has put the spotlight on the company's financial health and future prospects. To provide investors with a deeper understanding, here are some key metrics and insights from InvestingPro:
The company boasts a robust market capitalization of $2.06 billion, reflecting investor confidence and a strong market presence. With a P/E ratio of 23.21 and an adjusted P/E ratio for the last twelve months as of Q1 2024 at 23.58, Palomar Holdings is trading at a valuation that is intriguing when considering its near-term earnings growth potential. This is further underscored by its PEG ratio for the same period, which stands at an attractive 0.37, suggesting that the company's earnings growth may not be fully reflected in its current share price.
Revenue growth is also a bright spot for Palomar, with a 19.84% increase over the last twelve months as of Q1 2024, and an even more impressive quarterly revenue growth of 32.88% for Q1 2024. These figures indicate a strong upward trajectory for the company's financial performance.
InvestingPro Tips highlight that analysts have recently revised their earnings expectations downwards for the upcoming period, which could be a point of concern for potential investors. On the flip side, Palomar Holdings is anticipated to be profitable this year, maintaining profitability over the last twelve months. This is a testament to the company's financial resilience and operational efficiency.
For investors seeking more in-depth analysis and additional InvestingPro Tips, there are 12 more tips available for Palomar Holdings on InvestingPro. These tips could provide valuable insights into the company's financial health and future outlook. Remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a more comprehensive investment toolkit.
Lastly, it's important to consider these financial metrics and InvestingPro Tips in the context of insider transactions, such as the recent sale by CFO T Christopher Uchida. While insider sales can provide insights, they must be weighed against a broader set of financial data and market analysis.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.