Palomar Holdings, Inc. (NASDAQ:PLMR) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) have been given an average recommendation of “Moderate Buy” by the seven ratings firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $105.50.

Several research firms recently commented on PLMR. Evercore ISI boosted their price objective on shares of Palomar from $90.00 to $99.00 and gave the stock an “in-line” rating in a research note on Tuesday, August 6th. Jefferies Financial Group boosted their price objective on shares of Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Truist Financial boosted their price objective on shares of Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of Palomar from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Palomar from $96.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th.

Insiders Place Their Bets

In other Palomar news, CEO Mac Armstrong sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $96.28, for a total transaction of $673,960.00. Following the sale, the chief executive officer now owns 433,388 shares of the company’s stock, valued at approximately $41,726,596.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO T Christopher Uchida sold 1,750 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $94.00, for a total value of $164,500.00. Following the sale, the chief financial officer now directly owns 22,344 shares of the company’s stock, valued at $2,100,336. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mac Armstrong sold 7,000 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $96.28, for a total transaction of $673,960.00. Following the completion of the sale, the chief executive officer now directly owns 433,388 shares in the company, valued at $41,726,596.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,520 shares of company stock valued at $3,626,486. Insiders own 4.30% of the company’s stock.

Institutional Trading of Palomar

Large investors have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Palomar in the 3rd quarter valued at $25,000. GAMMA Investing LLC boosted its holdings in Palomar by 48.6% during the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $36,000 after buying an additional 125 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Palomar during the second quarter worth $49,000. DekaBank Deutsche Girozentrale purchased a new stake in Palomar during the first quarter worth $59,000. Finally, Advisors Asset Management Inc. boosted its holdings in Palomar by 137.1% during the first quarter. Advisors Asset Management Inc. now owns 735 shares of the company’s stock worth $62,000 after buying an additional 425 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Palomar Stock Performance

NASDAQ:PLMR opened at $91.72 on Friday. The company’s 50-day simple moving average is $96.13 and its 200-day simple moving average is $88.30. Palomar has a fifty-two week low of $48.65 and a fifty-two week high of $103.40. The stock has a market capitalization of $2.29 billion, a P/E ratio of 26.36 and a beta of 0.33.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data on Monday, August 5th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.09 by $0.16. The firm had revenue of $123.08 million during the quarter, compared to analyst estimates of $338.74 million. Palomar had a net margin of 21.63% and a return on equity of 20.83%. Palomar’s revenue was up 47.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.72 EPS. On average, research analysts forecast that Palomar will post 4.35 EPS for the current year.

Palomar Company Profile

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.