Analysts Set Palomar Holdings, Inc. (NASDAQ:PLMR) Target Price at $105.50

Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) has been given a consensus rating of "Moderate Buy" by the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $105.50.

A number of analysts have issued reports on the company. Jefferies Financial Group raised their target price on Palomar from $110.00 to $113.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Evercore ISI increased their price target on shares of Palomar from $90.00 to $99.00 and gave the company an "in-line" rating in a report on Tuesday, August 6th. Truist Financial raised their price target on shares of Palomar from $100.00 to $112.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Piper Sandler upped their price objective on shares of Palomar from $99.00 to $105.00 and gave the company an "overweight" rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lifted their target price on Palomar from $88.00 to $91.00 and gave the stock a "neutral" rating in a research report on Thursday, July 11th.

Insider Buying and Selling at Palomar

In other Palomar news, President Jon Christianson sold 10,000 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $94.40, for a total transaction of $944,000.00. Following the completion of the transaction, the president now directly owns 51,926 shares in the company, valued at $4,901,814.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, President Jon Christianson sold 10,000 shares of the business's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $94.40, for a total value of $944,000.00. Following the transaction, the president now directly owns 51,926 shares of the company's stock, valued at $4,901,814.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas A. Bradley purchased 1,000 shares of the company's stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average cost of $89.42 per share, with a total value of $89,420.00. Following the completion of the acquisition, the director now directly owns 4,724 shares in the company, valued at approximately $422,420.08. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 37,520 shares of company stock valued at $3,626,486. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Palomar

Large investors have recently modified their holdings of the stock. Victory Capital Management Inc. lifted its stake in shares of Palomar by 1,634.6% during the second quarter. Victory Capital Management Inc. now owns 177,678 shares of the company's stock valued at $14,419,000 after acquiring an additional 167,435 shares during the period. F M Investments LLC bought a new position in Palomar in the second quarter valued at approximately $11,946,000. Allspring Global Investments Holdings LLC grew its holdings in Palomar by 214.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 165,685 shares of the company's stock worth $13,445,000 after acquiring an additional 112,996 shares during the period. Artemis Investment Management LLP boosted its position in shares of Palomar by 36.1% in the 2nd quarter. Artemis Investment Management LLP now owns 339,464 shares of the company's stock worth $27,548,000 after purchasing an additional 90,010 shares during the last quarter. Finally, Atlas Capital Advisors LLC increased its holdings in Palomar by 167.7% in the second quarter. Atlas Capital Advisors LLC now owns 137,284 shares of the company's stock valued at $11,141,000 after purchasing an additional 86,000 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Palomar Trading Down 3.0 %

Palomar stock traded down $2.85 during trading hours on Friday, reaching $91.72. 176,982 shares of the company were exchanged, compared to its average volume of 162,705. Palomar has a 12 month low of $48.65 and a 12 month high of $103.40. The stock has a 50-day moving average of $96.13 and a 200 day moving average of $88.37. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 26.36 and a beta of 0.33.

Palomar (NASDAQ:PLMR - Get Free Report) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $338.74 million. Palomar had a net margin of 21.63% and a return on equity of 20.83%. The business's quarterly revenue was up 47.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 EPS. As a group, research analysts forecast that Palomar will post 4.35 EPS for the current 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.