Palomar Holdings, Inc. (NASDAQ:PLMR) Receives $111.67 Consensus PT from Analysts

Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seven research firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $111.67.

A number of analysts have recently weighed in on PLMR shares. Jefferies Financial Group raised their price objective on Palomar from $110.00 to $113.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price objective on Palomar from $93.00 to $100.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods lifted their price target on Palomar from $120.00 to $136.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. Finally, Piper Sandler boosted their price target on Palomar from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Friday, November 8th.

Insider Buying and Selling at Palomar

In other Palomar news, CEO Mac Armstrong sold 7,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $95.49, for a total transaction of $668,430.00. Following the completion of the transaction, the chief executive officer now owns 440,388 shares of the company's stock, valued at $42,052,650.12. This represents a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO T Christopher Uchida sold 1,030 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $97.65, for a total value of $100,579.50. Following the completion of the transaction, the chief financial officer now directly owns 17,543 shares of the company's stock, valued at approximately $1,713,073.95. This represents a 5.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,326 shares of company stock valued at $2,688,779. Company insiders own 4.30% of the company's stock.

Hedge Funds Weigh In On Palomar

Hedge funds and other institutional investors have recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. purchased a new position in Palomar during the third quarter worth approximately $25,000. GAMMA Investing LLC increased its stake in shares of Palomar by 48.6% in the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company's stock worth $36,000 after acquiring an additional 125 shares during the last quarter. Farther Finance Advisors LLC raised 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 acquiring an additional 378 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Palomar in the second quarter valued at about $49,000. Finally, Covestor Ltd increased its position in Palomar by 20.2% during the third quarter. Covestor Ltd now owns 1,076 shares of the company's stock worth $102,000 after purchasing an additional 181 shares during the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Palomar Stock Performance

Palomar stock traded up $0.10 during trading hours on Friday, hitting $109.67. The company had a trading volume of 131,917 shares, compared to its average volume of 147,972. The company has a 50-day moving average price of $100.92 and a two-hundred day moving average price of $93.80. Palomar has a 1 year low of $54.50 and a 1 year high of $112.10. The firm has a market cap of $2.90 billion, a P/E ratio of 26.05 and a beta of 0.36.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.20. The company had revenue of $148.50 million for the quarter, compared to the consensus estimate of $134.72 million. Palomar had a return on equity of 19.65% and a net margin of 21.55%. During the same quarter last year, the company earned $0.80 earnings per share. As a group, equities research analysts anticipate that Palomar will post 4.33 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.