Brokerages Set Palomar Holdings, Inc. (NASDAQ:PLMR) PT at $84.17

Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) have earned a consensus rating of “Moderate Buy” from the seven research firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $87.50.

A number of research analysts have recently commented on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a research note on Monday. Keefe, Bruyette & Woods upped their price objective 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. Piper Sandler upped their price objective on shares of Palomar from $80.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Evercore ISI upped their price objective on shares of Palomar from $68.00 to $86.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Finally, Jefferies Financial Group raised shares of Palomar from a “hold” rating to a “buy” rating and increased their target price for the stock from $78.00 to $88.00 in a research report on Thursday, March 14th.

Palomar Stock Up 1.1 %

NASDAQ:PLMR opened at $75.21 on Tuesday. The stock has a market cap of $1.87 billion, a PE ratio of 24.11 and a beta of 0.21. The firm’s fifty day simple moving average is $75.52 and its 200-day simple moving average is $63.49. Palomar has a fifty-two week low of $46.09 and a fifty-two week high of $86.25.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.09. Palomar had a net margin of 21.07% and a return on equity of 19.35%. The company had revenue of $102.35 million during the quarter, compared to the consensus estimate of $95.07 million. Equities analysts anticipate that Palomar will post 3.84 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Mac Armstrong sold 7,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $82.62, for a total transaction of $578,340.00. Following the completion of the sale, the chief executive officer now owns 475,388 shares of the company’s stock, valued at approximately $39,276,556.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Palomar news, CFO T Christopher Uchida sold 2,500 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $81.99, for a total value of $204,975.00. Following the completion of the sale, the chief financial officer now owns 25,344 shares of the company’s stock, valued at $2,077,954.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mac Armstrong sold 7,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $82.62, for a total transaction of $578,340.00. Following the completion of the sale, the chief executive officer now directly owns 475,388 shares of the company’s stock, valued at approximately $39,276,556.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,509 shares of company stock valued at $2,830,557. 4.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Palomar

Several large investors have recently bought and sold shares of the company. Atwood & Palmer Inc. boosted its stake in shares of Palomar by 66.7% during the 1st quarter. Atwood & Palmer Inc. now owns 750 shares of the company’s stock valued at $63,000 after buying an additional 300 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Palomar during the 4th quarter valued at approximately $493,000. Vanguard Group Inc. boosted its stake in shares of Palomar by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 2,363,067 shares of the company’s stock valued at $131,150,000 after buying an additional 85,329 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Palomar during the 4th quarter valued at approximately $338,000. Finally, Barclays PLC boosted its stake in shares of Palomar by 163.4% during the 4th quarter. Barclays PLC now owns 39,658 shares of the company’s stock valued at $2,201,000 after buying an additional 24,599 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.