Palomar (NASDAQ:PLMR) Given New $110.00 Price Target at Piper Sandler

Palomar (NASDAQ:PLMR - Get Free Report) had its price target boosted by investment analysts at Piper Sandler from $105.00 to $110.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's price objective suggests a potential upside of 9.89% from the stock's previous close.

A number of other equities analysts also recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Palomar from $93.00 to $100.00 and gave the stock a "neutral" rating in a research note on Thursday. Truist Financial upped their price objective on Palomar from $100.00 to $112.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. Evercore ISI lifted their target price on Palomar from $90.00 to $99.00 and gave the stock an "in-line" rating in a research note on Tuesday, August 6th. Jefferies Financial Group increased their price target on shares of Palomar from $110.00 to $113.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Palomar from $96.00 to $113.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $109.00.

Palomar Trading Up 4.5 %

Palomar stock traded up $4.33 during trading on Friday, hitting $100.10. 260,552 shares of the company were exchanged, compared to its average volume of 163,101. The business's 50 day moving average is $95.24 and its 200 day moving average is $89.24. Palomar has a 52 week low of $54.50 and a 52 week high of $103.40. The company has a market capitalization of $2.50 billion, a P/E ratio of 23.66 and a beta of 0.34.

Palomar (NASDAQ:PLMR - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.03 by $0.20. Palomar had a net margin of 21.55% and a return on equity of 19.65%. The company had revenue of $148.50 million during the quarter, compared to the consensus estimate of $134.72 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. Equities analysts expect that Palomar will post 4.35 EPS for the current year.

Insider Buying and Selling

In other news, President Jon Christianson sold 10,000 shares of Palomar stock in a transaction on Friday, September 6th. The stock was sold at an average price of $94.40, for a total value of $944,000.00. Following the completion of the transaction, the president now directly owns 51,926 shares in the company, valued at approximately $4,901,814.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Mac Armstrong sold 7,000 shares of the company's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $95.49, for a total transaction of $668,430.00. Following the sale, the chief executive officer now owns 440,388 shares of the company's stock, valued at approximately $42,052,650.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Jon Christianson sold 10,000 shares of the firm's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $94.40, for a total transaction of $944,000.00. Following the completion of the transaction, the president now directly owns 51,926 shares of the company's stock, valued at approximately $4,901,814.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,770 shares of company stock valued at $3,461,986. Company insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in Palomar by 1,634.6% in the 2nd quarter. Victory Capital Management Inc. now owns 177,678 shares of the company's stock worth $14,419,000 after acquiring an additional 167,435 shares during the last quarter. F M Investments LLC bought a new position in shares of Palomar in the second quarter worth approximately $11,946,000. Allspring Global Investments Holdings LLC raised its stake in Palomar by 214.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 165,685 shares of the company's stock valued at $13,445,000 after purchasing an additional 112,996 shares in the last quarter. Artemis Investment Management LLP lifted its position in Palomar by 36.1% during the second quarter. Artemis Investment Management LLP now owns 339,464 shares of the company's stock valued at $27,548,000 after purchasing an additional 90,010 shares during the last quarter. Finally, Atlas Capital Advisors LLC grew its stake in Palomar by 167.7% in the 2nd quarter. Atlas Capital Advisors LLC now owns 137,284 shares of the company's stock worth $11,141,000 after buying an additional 86,000 shares in the last quarter. Institutional investors own 90.25% of the company's stock.

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.