Shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $164.33.
A number of brokerages have commented on PLMR. Wall Street Zen raised shares of Palomar from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Jefferies Financial Group lifted their price objective on shares of Palomar from $145.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, April 11th. JMP Securities reaffirmed a "market perform" rating on shares of Palomar in a report on Thursday, February 13th. Truist Financial raised their price objective on shares of Palomar from $150.00 to $178.00 and gave the company a "buy" rating in a research note on Tuesday, April 15th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Palomar from $155.00 to $145.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th.
Check Out Our Latest Stock Analysis on PLMR
Palomar Stock Performance
NASDAQ PLMR traded up $1.10 on Friday, reaching $157.97. 274,508 shares of the company's stock traded hands, compared to its average volume of 207,034. The stock has a 50 day moving average price of $154.36 and a 200-day moving average price of $129.16. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of 35.26 and a beta of 0.50. Palomar has a fifty-two week low of $77.28 and a fifty-two week high of $175.85.
Palomar (NASDAQ:PLMR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.26. The company had revenue of $174.63 million during the quarter, compared to analysts' expectations of $161.97 million. Palomar had a net margin of 21.23% and a return on equity of 19.76%. During the same quarter in the prior year, the company earned $1.09 EPS. As a group, equities research analysts anticipate that Palomar will post 5.99 EPS for the current fiscal year.
Insider Transactions at Palomar
In other Palomar news, CFO T Christopher Uchida sold 500 shares of the business's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $153.04, for a total value of $76,520.00. Following the sale, the chief financial officer now owns 7,672 shares of the company's stock, valued at $1,174,122.88. The trade was a 6.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mac Armstrong sold 5,000 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $161.96, for a total transaction of $809,800.00. Following the completion of the sale, the chief executive officer now directly owns 392,388 shares in the company, valued at approximately $63,551,160.48. The trade was a 1.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,202 shares of company stock valued at $3,265,129 over the last ninety days. Corporate insiders own 3.70% of the company's stock.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. American Century Companies Inc. raised its position in shares of Palomar by 36.6% in the 4th quarter. American Century Companies Inc. now owns 785,419 shares of the company's stock valued at $82,932,000 after acquiring an additional 210,523 shares during the period. Norges Bank acquired a new stake in shares of Palomar in the 4th quarter valued at approximately $20,637,000. Nuveen LLC acquired a new stake in shares of Palomar in the 1st quarter valued at approximately $26,084,000. Price T Rowe Associates Inc. MD raised its position in shares of Palomar by 39.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 432,060 shares of the company's stock valued at $45,622,000 after acquiring an additional 122,057 shares during the period. Finally, Freestone Grove Partners LP acquired a new stake in shares of Palomar in the 4th quarter valued at approximately $11,774,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.
Palomar Company Profile
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Get Free ReportPalomar 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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