Palomar Holdings, Inc. (NASDAQ:PLMR) Receives $157.67 Consensus Target Price from Analysts

Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) have received an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $157.6667.

PLMR has been the topic of several analyst reports. Evercore ISI lowered their price target on Palomar from $168.00 to $134.00 and set an “in-line” rating on the stock in a report on Wednesday, October 1st. Keefe, Bruyette & Woods raised their target price on shares of Palomar from $164.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, November 11th. JPMorgan Chase & Co. lifted their target price on shares of Palomar from $137.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Palomar in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded Palomar from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th.

Palomar Price Performance

Shares of NASDAQ:PLMR opened at $135.38 on Thursday. The stock has a market capitalization of $3.59 billion, a P/E ratio of 21.12 and a beta of 0.49. The business has a 50-day moving average of $123.64 and a two-hundred day moving average of $127.23. Palomar has a fifty-two week low of $98.42 and a fifty-two week high of $175.85.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings data on Friday, December 16th. The company reported $0.07 earnings per share for the quarter. Palomar had a return on equity of 21.93% and a net margin of 22.59%.The business had revenue of $65.74 million for the quarter. As a group, research analysts expect that Palomar will post 5.99 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO T Christopher Uchida sold 782 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $128.84, for a total transaction of $100,752.88. Following the transaction, the chief financial officer owned 7,916 shares of the company’s stock, valued at approximately $1,019,897.44. The trade was a 8.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Jon Christianson sold 1,691 shares of the company’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $139.50, for a total transaction of $235,894.50. Following the transaction, the president owned 59,631 shares of the company’s stock, valued at approximately $8,318,524.50. The trade was a 2.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 16,494 shares of company stock valued at $2,004,566. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PLMR. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Palomar by 3.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,461 shares of the company’s stock valued at $363,000 after buying an additional 90 shares during the period. Clearstead Advisors LLC increased its stake in Palomar by 31.0% during the third quarter. Clearstead Advisors LLC now owns 397 shares of the company’s stock valued at $46,000 after acquiring an additional 94 shares during the period. California State Teachers Retirement System raised its holdings in Palomar by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 24,207 shares of the company’s stock valued at $3,734,000 after acquiring an additional 97 shares in the last quarter. Bank of Montreal Can raised its holdings in Palomar by 1.7% in the 2nd quarter. Bank of Montreal Can now owns 5,766 shares of the company’s stock valued at $889,000 after acquiring an additional 98 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Palomar by 14.4% in the 2nd quarter. GAMMA Investing LLC now owns 833 shares of the company’s stock worth $128,000 after acquiring an additional 105 shares during the period. Institutional investors own 90.25% of the company’s stock.

About Palomar

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.