Palomar Holdings, Inc. (NASDAQ:PLMR) Director Acquires $84,320.00 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) Director Thomas A. Bradley acquired 1,000 shares of the business's stock in a transaction on Tuesday, May 7th. The shares were purchased at an average price of $84.32 per share, for a total transaction of $84,320.00. Following the purchase, the director now directly owns 2,500 shares of the company's stock, valued at $210,800. The transaction was disclosed in a filing with the SEC, which is available through this link.

Palomar Stock Down 0.4 %

PLMR stock traded down $0.35 during mid-day trading on Wednesday, reaching $84.76. The company had a trading volume of 101,600 shares, compared to its average volume of 161,487. Palomar Holdings, Inc. has a one year low of $46.09 and a one year high of $86.25. The stock has a market capitalization of $2.11 billion, a P/E ratio of 24.46 and a beta of 0.24. The stock's 50-day simple moving average is $79.24 and its two-hundred day simple moving average is $66.76.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.28. Palomar had a net margin of 21.78% and a return on equity of 19.94%. The firm had revenue of $108.39 million for the quarter, compared to the consensus estimate of $322.10 million. During the same period last year, the firm posted $0.80 EPS. Palomar's quarterly revenue was up 29.1% compared to the same quarter last year. On average, research analysts forecast that Palomar Holdings, Inc. will post 3.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Palomar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. New York State Common Retirement Fund boosted its position in Palomar by 1.8% during the 3rd quarter. New York State Common Retirement Fund now owns 10,099 shares of the company's stock worth $513,000 after acquiring an additional 182 shares during the period. Signaturefd LLC raised its stake in shares of Palomar by 59.4% during the fourth quarter. Signaturefd LLC now owns 593 shares of the company's stock valued at $33,000 after purchasing an additional 221 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in Palomar by 0.9% in the third quarter. Los Angeles Capital Management LLC now owns 27,529 shares of the company's stock worth $1,397,000 after purchasing an additional 256 shares during the period. Conestoga Capital Advisors LLC grew its position in Palomar by 1.0% in the 1st quarter. Conestoga Capital Advisors LLC now owns 27,407 shares of the company's stock valued at $2,298,000 after buying an additional 270 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its stake in Palomar by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 21,644 shares of the company's stock valued at $1,814,000 after buying an additional 280 shares during the period. 90.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PLMR shares. Evercore ISI boosted their price target on Palomar from $68.00 to $86.00 and gave the company an "in-line" rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods boosted their target price on shares of Palomar from $88.00 to $89.00 and gave the company an "outperform" rating in a research note on Wednesday, April 10th. JMP Securities restated a "market perform" rating on shares of Palomar in a research report on Monday, April 15th. JPMorgan Chase & Co. downgraded shares of Palomar from an "overweight" rating to a "neutral" rating and boosted their price objective for the company from $79.00 to $85.00 in a research report on Monday, April 8th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Palomar currently has an average rating of "Moderate Buy" and a consensus price target of $89.17.

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.

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