Palomar Holdings, Inc. (NASDAQ:PLMR) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) have received an average recommendation of "Moderate Buy" from the seven research firms that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $115.50.

PLMR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on Palomar from $93.00 to $100.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods increased their price target on shares of Palomar from $120.00 to $136.00 and gave the company an "outperform" rating in a report on Friday, December 6th. Piper Sandler boosted their price objective on shares of Palomar from $119.00 to $133.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Finally, Jefferies Financial Group increased their target price on shares of Palomar from $110.00 to $113.00 and gave the company a "buy" rating in a report on Wednesday, October 9th.

Palomar Trading Up 1.2 %

Shares of Palomar stock traded up $1.36 on Monday, reaching $110.73. 105,075 shares of the stock were exchanged, compared to its average volume of 129,103. The firm has a market capitalization of $2.93 billion, a PE ratio of 26.30 and a beta of 0.38. Palomar has a 1-year low of $57.68 and a 1-year high of $112.90. The business has a fifty day moving average price of $106.87 and a two-hundred day moving average price of $99.82.

Palomar (NASDAQ:PLMR - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.20. The company had revenue of $148.50 million for the quarter, compared to analysts' expectations of $134.72 million. Palomar had a return on equity of 19.65% and a net margin of 21.55%. During the same quarter in the previous year, the firm posted $0.80 EPS. Research analysts expect that Palomar will post 4.33 EPS for the current year.

Insider Activity

In other Palomar news, CFO T Christopher Uchida sold 1,111 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $104.00, for a total value of $115,544.00. Following the transaction, the chief financial officer now directly owns 16,432 shares in the company, valued at approximately $1,708,928. This represents a 6.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Jon Christianson sold 2,195 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $104.10, for a total transaction of $228,499.50. Following the sale, the president now owns 51,926 shares in the company, valued at approximately $5,405,496.60. This trade represents a 4.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,239 shares of company stock worth $4,374,199 over the last ninety days. 4.30% of the stock is currently owned by insiders.

Institutional Trading of Palomar

Several institutional investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. purchased a new stake in shares of Palomar in the third quarter worth about $10,994,000. Soros Fund Management LLC purchased a new position in Palomar in the 3rd quarter worth approximately $9,467,000. Westfield Capital Management Co. LP grew its position in Palomar by 24.5% in the third quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company's stock valued at $37,339,000 after acquiring an additional 77,552 shares in the last quarter. Artemis Investment Management LLP raised its stake in shares of Palomar by 18.7% during the fourth quarter. Artemis Investment Management LLP now owns 455,082 shares of the company's stock valued at $48,052,000 after purchasing an additional 71,806 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in shares of Palomar by 9,367.0% in the third quarter. International Assets Investment Management LLC now owns 57,654 shares of the company's stock valued at $5,458,000 after purchasing an additional 57,045 shares during the period. 90.25% of the stock is owned by hedge funds and other 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.