Palomar (NASDAQ:PLMR) Price Target Raised to $152.00

Palomar (NASDAQ:PLMR) had its price objective increased by Keefe, Bruyette & Woods from $136.00 to $152.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts also recently weighed in on the company. JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a research report on Thursday, February 13th. Piper Sandler boosted their price objective on shares of Palomar from $133.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. boosted their target price on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Truist Financial increased their target price on shares of Palomar from $112.00 to $150.00 and gave the company a “buy” rating in a research 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, Palomar presently has an average rating of “Moderate Buy” and a consensus price target of $127.33.

Palomar Stock Performance

Shares of PLMR stock opened at $120.76 on Tuesday. Palomar has a 1 year low of $71.54 and a 1 year high of $128.38. The stock has a fifty day moving average price of $108.89 and a 200 day moving average price of $101.86. The stock has a market cap of $3.20 billion, a PE ratio of 26.96 and a beta of 0.38.

Palomar (NASDAQ:PLMR) last released 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 net margin of 21.23% and a return on equity of 19.76%. As a group, equities research analysts predict that Palomar will post 5.83 earnings per share for the current year.

Insider Activity

In other news, CEO Mac Armstrong sold 7,000 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $103.04, for a total transaction of $721,280.00. Following the transaction, the chief executive officer now owns 419,388 shares in the company, valued at $43,213,739.52. This represents a 1.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO T Christopher Uchida sold 1,030 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $110.85, for a total value of $114,175.50. Following the sale, the chief financial officer now owns 15,994 shares of the company’s stock, valued at approximately $1,772,934.90. This trade represents a 6.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,485 shares of company stock worth $4,098,195 over the last 90 days. 4.30% of the stock is owned by company insiders.

Institutional Trading of Palomar

Large investors have recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Palomar in the third quarter valued at approximately $25,000. Blue Trust Inc. bought a new position in Palomar in the 4th quarter worth approximately $26,000. Farther Finance Advisors LLC raised its holdings 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 during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Palomar by 536.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 414 shares of the company’s stock valued at $43,000 after buying an additional 349 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in Palomar by 63.2% in the fourth quarter. Jones Financial Companies Lllp now owns 493 shares of the company’s stock valued at $52,000 after purchasing an additional 191 shares during the last quarter. 90.25% of the stock is owned by institutional investors.

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.