Palomar Holdings, Inc. (NASDAQ:PLMR) Receives $84.17 Consensus Target Price from Analysts

Palomar Holdings, Inc. (NASDAQ:PLMR) has received a consensus rating of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $87.50.

A number of equities analysts recently commented on PLMR shares. JPMorgan Chase & Co. cut Palomar from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $79.00 to $85.00 in a report on Monday. Piper Sandler boosted their price objective on Palomar from $80.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Jefferies Financial Group upgraded Palomar from a “hold” rating to a “buy” rating and raised their price objective for the stock from $78.00 to $88.00 in a research note on Thursday, March 14th. Evercore ISI upped their target price on Palomar from $68.00 to $86.00 and gave the company an “in-line” rating in a research report on Thursday. Finally, Truist Financial raised their price target on Palomar from $72.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, February 16th.

Insider Activity at Palomar

In other Palomar news, President Jon Christianson sold 423 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $60.13, for a total transaction of $25,434.99. Following the completion of the sale, the president now directly owns 70,612 shares of the company’s stock, valued at $4,245,899.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Palomar news, President Jon Christianson sold 423 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $60.13, for a total transaction of $25,434.99. Following the sale, the president now directly owns 70,612 shares in the company, valued at $4,245,899.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas A. Bradley purchased 1,500 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were purchased at an average cost of $74.30 per share, for a total transaction of $111,450.00. Following the transaction, the director now directly owns 1,500 shares in the company, valued at approximately $111,450. The disclosure for this purchase can be found here. Insiders sold a total of 37,509 shares of company stock valued at $2,830,557 in the last 90 days. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Palomar

Institutional investors have recently bought and sold shares of the business. UBS Group AG grew its stake in shares of Palomar by 7,440.0% in the third quarter. UBS Group AG now owns 377 shares of the company’s stock worth $32,000 after acquiring an additional 372 shares in the last quarter. Signaturefd LLC increased its position in Palomar by 59.4% during the fourth quarter. Signaturefd LLC now owns 593 shares of the company’s stock worth $33,000 after buying an additional 221 shares during the period. Atwood & Palmer Inc. raised its position in Palomar by 66.7% in the 1st quarter. Atwood & Palmer Inc. now owns 750 shares of the company’s stock valued at $63,000 after purchasing an additional 300 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Palomar in the 1st quarter worth $55,000. Finally, FMR LLC lifted its position in Palomar by 89.9% in the first quarter. FMR LLC now owns 864 shares of the company’s stock valued at $48,000 after purchasing an additional 409 shares during the period. 90.25% of the stock is owned by institutional investors and hedge funds.

Palomar Price Performance

PLMR stock opened at $75.54 on Tuesday. The business has a fifty day moving average price of $74.54 and a 200 day moving average price of $62.89. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 24.62 and a beta of 0.21. Palomar has a fifty-two week low of $46.09 and a fifty-two week high of $86.25.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.09. The business had revenue of $102.35 million for the quarter, compared to the consensus estimate of $95.07 million. Palomar had a net margin of 21.07% and a return on equity of 19.35%. On average, equities analysts expect that Palomar will post 3.82 earnings per share for the current fiscal year.

About Palomar

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.