Keefe, Bruyette & Woods Raises Palomar (NASDAQ:PLMR) Price Target to $152.00

Palomar (NASDAQ:PLMR - Get Free Report) had its price target boosted by equities researchers at Keefe, Bruyette & Woods from $136.00 to $152.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' target price indicates a potential upside of 27.66% from the stock's previous close.

Other analysts also recently issued reports about the stock. Truist Financial boosted their target price on shares of Palomar from $112.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, February 14th. JMP Securities restated a "market perform" rating on shares of Palomar in a report on Thursday, February 13th. JPMorgan Chase & Co. boosted their price target on shares of Palomar from $93.00 to $100.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, Piper Sandler boosted their price target on shares of Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Palomar presently has an average rating of "Moderate Buy" and an average price target of $127.33.

Palomar Trading Down 1.4 %

Palomar stock traded down $1.69 during midday trading on Tuesday, reaching $119.07. 179,560 shares of the stock traded hands, compared to its average volume of 172,690. Palomar has a fifty-two week low of $71.54 and a fifty-two week high of $128.38. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 26.58 and a beta of 0.38. The firm has a fifty day moving average price of $108.89 and a two-hundred day moving average price of $101.86.

Palomar (NASDAQ:PLMR - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. Analysts anticipate that Palomar will post 5.99 earnings per share for the current year.

Insiders Place Their Bets

In other Palomar news, CFO T Christopher Uchida sold 552 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $123.26, for a total value of $68,039.52. Following the completion of the sale, the chief financial officer now directly owns 15,683 shares of the company's stock, valued at $1,933,086.58. The trade was a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mac Armstrong sold 2,791 shares of the company's stock in a transaction on Sunday, January 26th. The stock was sold at an average price of $101.69, for a total transaction of $283,816.79. Following the sale, the chief executive officer now directly owns 62,639 shares of the company's stock, valued at approximately $6,369,759.91. This represents a 4.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,485 shares of company stock valued at $4,098,195 over the last ninety days. Corporate insiders own 4.30% of the company's stock.

Institutional Trading of Palomar

Large investors have recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Palomar during the 3rd quarter worth $25,000. Blue Trust Inc. bought a new stake in shares of Palomar during the 4th quarter worth $26,000. Farther Finance Advisors LLC boosted its holdings in shares of Palomar by 490.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company's stock worth $43,000 after buying an additional 378 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Palomar by 536.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock worth $43,000 after buying an additional 349 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Palomar by 63.2% during the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock worth $52,000 after buying an additional 191 shares during the period. 90.25% of the stock is owned by institutional investors.

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.