Keefe, Bruyette & Woods Issues Positive Forecast for Palomar (NASDAQ:PLMR) Stock Price

Palomar (NASDAQ:PLMR - Free Report) had its price target upped by Keefe, Bruyette & Woods from $152.00 to $155.00 in a research note released on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

PLMR has been the topic of several other research reports. JMP Securities reiterated a "market perform" rating on shares of Palomar in a research note on Thursday, February 13th. Truist Financial upped their target price on Palomar from $112.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Finally, Piper Sandler raised 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. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $127.83.

Palomar Trading Up 0.1 %

Shares of PLMR stock traded up $0.15 during trading hours on Friday, reaching $135.14. 170,067 shares of the company's stock were exchanged, compared to its average volume of 162,207. The stock has a market cap of $3.61 billion, a PE ratio of 30.17 and a beta of 0.33. The stock's fifty day moving average price is $119.30 and its two-hundred day moving average price is $107.34. Palomar has a 1 year low of $74.09 and a 1 year high of $136.90.

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

Insiders Place Their Bets

In other Palomar news, CFO T Christopher Uchida sold 394 shares of the company's stock in a transaction dated Sunday, January 26th. The shares were sold at an average price of $101.69, for a total value of $40,065.86. Following the completion of the transaction, the chief financial officer now owns 16,943 shares in the company, valued at approximately $1,722,933.67. This represents a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mac Armstrong sold 7,000 shares of the firm's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $109.76, for a total value of $768,320.00. Following the sale, the chief executive officer now owns 412,388 shares in the company, valued at $45,263,706.88. This trade represents a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,455 shares of company stock worth $3,911,340. Corporate insiders own 4.30% of the company's stock.

Hedge Funds Weigh In On Palomar

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Palomar by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 2,574,923 shares of the company's stock valued at $271,886,000 after buying an additional 53,123 shares in the last quarter. State Street Corp increased its holdings in Palomar by 3.0% in the 3rd quarter. State Street Corp now owns 1,097,702 shares of the company's stock worth $103,919,000 after acquiring an additional 32,151 shares in the last quarter. American Century Companies Inc. raised its position in 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 period. Geode Capital Management LLC raised its position in Palomar by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 618,840 shares of the company's stock worth $65,358,000 after acquiring an additional 18,748 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Palomar by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 561,740 shares of the company's stock valued at $59,313,000 after purchasing an additional 17,320 shares in the last quarter. Hedge funds and other institutional investors 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.