Palomar Holdings, Inc. (NASDAQ:PLMR) Receives $148.33 Consensus Target Price from Analysts

Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seven analysts that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $148.33.

PLMR has been the topic of several research reports. Jefferies Financial Group increased their price target on shares of Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Piper Sandler increased their price target on shares of Palomar from $133.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. JMP Securities reissued a "market perform" rating on shares of Palomar in a research report on Thursday, February 13th. Keefe, Bruyette & Woods reduced their price target on shares of Palomar from $155.00 to $145.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, Truist Financial increased their price target on shares of Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a research report on Tuesday, April 15th.

Palomar Trading Up 0.0 %

PLMR stock traded up $0.04 during midday trading on Friday, hitting $148.00. 25,533 shares of the company's stock were exchanged, compared to its average volume of 185,128. The business has a 50-day simple moving average of $133.72 and a two-hundred day simple moving average of $114.20. The stock has a market capitalization of $3.96 billion, a PE ratio of 33.04 and a beta of 0.46. Palomar has a 1-year low of $77.17 and a 1-year high of $155.87.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.13. Palomar had a return on equity of 19.76% and a net margin of 21.23%. As a group, research analysts expect that Palomar will post 5.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other Palomar news, CEO Mac Armstrong sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $129.72, for a total transaction of $648,600.00. Following the sale, the chief executive officer now owns 402,388 shares of the company's stock, valued at approximately $52,197,771.36. This trade represents a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Jon Christianson sold 371 shares of the firm's stock in a transaction that occurred on Sunday, January 26th. The stock was sold at an average price of $101.69, for a total transaction of $37,726.99. Following the sale, the president now directly owns 55,771 shares in the company, valued at approximately $5,671,352.99. The trade was a 0.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,615 shares of company stock valued at $2,906,319. 4.30% of the stock is owned by corporate insiders.

Institutional Trading of Palomar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. grew its position in shares of Palomar by 36.6% during the fourth quarter. American Century Companies Inc. now owns 785,419 shares of the company's stock worth $82,932,000 after acquiring an additional 210,523 shares during the last quarter. Norges Bank purchased a new position in shares of Palomar during the fourth quarter worth approximately $20,637,000. Price T Rowe Associates Inc. MD grew its position in shares of Palomar by 39.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 432,060 shares of the company's stock worth $45,622,000 after acquiring an additional 122,057 shares during the last quarter. Freestone Grove Partners LP purchased a new position in shares of Palomar during the fourth quarter worth approximately $11,774,000. Finally, GAMMA Investing LLC grew its position in shares of Palomar by 27,543.8% during the first quarter. GAMMA Investing LLC now owns 99,794 shares of the company's stock worth $13,680,000 after acquiring an additional 99,433 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

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.