Palomar Holdings, Inc. (NASDAQ:PLMR) Receives Average Recommendation of "Moderate Buy" from Analysts

Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seven ratings firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $127.83.

Several brokerages have recently issued reports on PLMR. JMP Securities reiterated a "market perform" rating on shares of Palomar in a research note on Thursday, February 13th. Keefe, Bruyette & Woods raised their price objective on Palomar from $152.00 to $155.00 and gave the company an "outperform" rating in a research note on Friday, March 21st. Truist Financial boosted their target price on Palomar from $112.00 to $150.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Finally, Piper Sandler increased their target price on shares of Palomar from $133.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, February 14th.

Insider Activity

In other news, CEO Mac Armstrong sold 5,000 shares of the firm's stock in a transaction 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 completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela L. Grant sold 1,505 shares of Palomar stock in a transaction on Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total transaction of $159,319.30. Following the transaction, the insider now owns 2,534 shares in the company, valued at approximately $268,249.24. This trade represents a 37.26 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,455 shares of company stock valued at $3,911,340. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Palomar

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. acquired a new stake in Palomar during the 4th quarter worth about $26,000. Smartleaf Asset Management LLC increased its stake in shares of Palomar by 536.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock valued at $43,000 after acquiring an additional 349 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Palomar by 63.2% during the fourth quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock worth $52,000 after acquiring an additional 191 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Palomar by 21.8% in the fourth quarter. Farther Finance Advisors LLC now owns 554 shares of the company's stock worth $58,000 after purchasing an additional 99 shares during the period. Finally, KBC Group NV increased its stake in Palomar by 44.9% in the fourth quarter. KBC Group NV now owns 1,045 shares of the company's stock valued at $110,000 after purchasing an additional 324 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Palomar Price Performance

PLMR traded up $0.17 on Tuesday, hitting $136.77. 191,182 shares of the stock were exchanged, compared to its average volume of 170,658. Palomar has a 12 month low of $74.09 and a 12 month high of $137.89. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 30.53 and a beta of 0.33. The business has a 50-day moving average of $120.41 and a two-hundred day moving average of $107.73.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share 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%. Equities research analysts expect that Palomar will post 5.99 earnings per share for the current fiscal 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.