Palomar (NASDAQ:PLMR) PT Raised to $86.00

Palomar (NASDAQ:PLMR - Get Free Report) had its price target boosted by analysts at Evercore ISI from $68.00 to $86.00 in a report issued on Thursday, Benzinga reports. The firm presently has an "in-line" rating on the stock. Evercore ISI's price target would suggest a potential upside of 13.85% from the company's previous close.

Several other brokerages have also recently issued reports on PLMR. Piper Sandler raised their target price on shares of Palomar from $80.00 to $89.00 and gave the stock an "overweight" rating in a report on Monday, April 1st. Jefferies Financial Group raised shares of Palomar from a "hold" rating to a "buy" rating and raised their target price for the stock from $78.00 to $88.00 in a report on Thursday, March 14th. Keefe, Bruyette & Woods raised their target price on shares of Palomar from $88.00 to $89.00 and gave the stock an "outperform" rating in a report on Wednesday. JPMorgan Chase & Co. cut shares of Palomar from an "overweight" rating to a "neutral" rating and raised their target price for the stock from $79.00 to $85.00 in a report on Monday. Finally, Truist Financial raised their target price on shares of Palomar from $72.00 to $88.00 and gave the stock a "buy" rating in a report on Friday, February 16th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $87.50.

Palomar Trading Down 1.8 %

Shares of NASDAQ PLMR traded down $1.40 during midday trading on Thursday, reaching $75.54. The company had a trading volume of 140,974 shares, compared to its average volume of 158,637. The business's 50-day simple moving average is $74.54 and its 200 day simple moving average is $62.89. The stock has a market cap of $1.88 billion, a P/E ratio of 24.62 and a beta of 0.21. Palomar has a 1 year low of $46.09 and a 1 year high of $86.25.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.09. The business had revenue of $102.35 million during the quarter, compared to analysts' expectations of $95.07 million. Palomar had a net margin of 21.07% and a return on equity of 19.35%. Analysts predict that Palomar will post 3.82 earnings per share for the current year.

Insider Activity at Palomar

In other news, Director Thomas A. Bradley purchased 1,500 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The shares were bought at an average price of $74.30 per share, for a total transaction of $111,450.00. Following the completion of the transaction, the director now owns 1,500 shares in the company, valued at $111,450. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Mac Armstrong sold 1,541 shares of Palomar stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $59.19, for a total value of $91,211.79. Following the sale, the chief executive officer now owns 46,842 shares in the company, valued at $2,772,577.98. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas A. Bradley bought 1,500 shares of the company's stock in a transaction dated Tuesday, March 5th. The stock was bought at an average price of $74.30 per share, for a total transaction of $111,450.00. Following the transaction, the director now owns 1,500 shares of the company's stock, valued at $111,450. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 39,509 shares of company stock worth $2,950,557. 4.40% of the stock is owned by company insiders.

Institutional Trading of Palomar

Several institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund grew its position in shares of Palomar by 1.8% in the third quarter. New York State Common Retirement Fund now owns 10,099 shares of the company's stock valued at $513,000 after purchasing an additional 182 shares during the period. Sei Investments Co. boosted its position in Palomar by 0.3% during the fourth quarter. Sei Investments Co. now owns 72,261 shares of the company's stock worth $4,011,000 after acquiring an additional 188 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Palomar by 1.9% during the second quarter. The Manufacturers Life Insurance Company now owns 10,002 shares of the company's stock worth $581,000 after acquiring an additional 190 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Palomar by 3.8% during the second quarter. PNC Financial Services Group Inc. now owns 5,387 shares of the company's stock worth $313,000 after acquiring an additional 198 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its position in Palomar by 5.3% during the third quarter. Handelsbanken Fonder AB now owns 4,210 shares of the company's stock worth $214,000 after acquiring an additional 210 shares during the last quarter. Institutional investors and hedge funds 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.