Shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $136.90 and last traded at $128.89, with a volume of 325146 shares trading hands. The stock had previously closed at $127.18.
Wall Street Analyst Weigh In
A number of equities analysts have commented on PLMR shares. Keefe, Bruyette & Woods lifted their target price on Palomar from $136.00 to $152.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. JMP Securities restated a "market perform" rating on shares of Palomar in a research note on Thursday, February 13th. Piper Sandler lifted their target price on Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Finally, Truist Financial lifted their price target on Palomar from $112.00 to $150.00 and gave the company a "buy" rating in a report on Friday, February 14th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $127.33.
View Our Latest Research Report on Palomar
Palomar Price Performance
The stock has a market cap of $3.40 billion, a P/E ratio of 28.47 and a beta of 0.33. The company has a fifty day moving average of $113.04 and a 200 day moving average of $104.46.
Palomar (NASDAQ:PLMR - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.37 EPS for the quarter, topping 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, analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current year.
Insider Buying and Selling
In other Palomar news, CFO T Christopher Uchida sold 1,030 shares of Palomar stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $110.85, for a total value of $114,175.50. Following the transaction, the chief financial officer now owns 15,994 shares in the company, valued at approximately $1,772,934.90. The trade was a 6.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mac Armstrong sold 2,791 shares of Palomar 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 $283,816.79. Following the completion of the transaction, the chief executive officer now owns 62,639 shares in the company, valued at approximately $6,369,759.91. This trade represents a 4.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,485 shares of company stock valued at $4,098,195 over the last quarter. Corporate insiders own 4.30% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in PLMR. Blue Trust Inc. purchased a new position in Palomar during the 4th quarter worth approximately $26,000. Farther Finance Advisors LLC grew its position in 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 purchasing an additional 378 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Palomar by 536.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock worth $43,000 after purchasing an additional 349 shares in the last quarter. Jones Financial Companies Lllp grew its position in Palomar by 63.2% during the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock worth $52,000 after purchasing an additional 191 shares in the last quarter. Finally, Covestor Ltd grew its position in Palomar by 20.2% during the 3rd quarter. Covestor Ltd now owns 1,076 shares of the company's stock worth $102,000 after purchasing an additional 181 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.
About Palomar
(
Get Free Report)
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.
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