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Palomar (NASDAQ:PLMR – Get Free Report) had its price target dropped by investment analysts at Keefe, Bruyette & Woods from $155.00 to $145.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 1.41% from the company’s previous close.
Several other equities research analysts have also recently weighed in on PLMR. Truist Financial boosted their price objective on Palomar from $112.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. raised shares of Palomar from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $115.00 to $150.00 in a research report on Tuesday. JMP Securities restated a “market perform” rating on shares of Palomar in a report on Thursday, February 13th. Finally, Piper Sandler upped their target price on Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $134.50.
View Our Latest Research Report on Palomar
Palomar Stock Performance
Shares of PLMR stock opened at $142.99 on Wednesday. Palomar has a 52-week low of $74.09 and a 52-week high of $145.81. The stock has a fifty day simple moving average of $127.63 and a two-hundred day simple moving average of $111.26. The firm has a market capitalization of $3.81 billion, a PE ratio of 31.92 and a beta of 0.46.
Palomar (NASDAQ:PLMR – Get Free Report) last announced its quarterly 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%. On average, sell-side analysts forecast that Palomar will post 5.99 EPS for the current fiscal year.
Insider Transactions at Palomar
In other Palomar news, insider Angela L. Grant sold 717 shares of Palomar stock in a transaction dated Sunday, January 26th. The stock was sold at an average price of $101.70, for a total transaction of $72,918.90. Following the completion of the sale, the insider now owns 2,951 shares of the company’s stock, valued at approximately $300,116.70. The trade was a 19.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mac Armstrong sold 7,000 shares of Palomar stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $109.76, for a total transaction of $768,320.00. Following the sale, the chief executive officer now owns 412,388 shares of the company’s stock, valued at approximately $45,263,706.88. The trade was a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,097 shares of company stock worth $3,415,422. Insiders own 4.30% of the company’s stock.
Institutional Investors Weigh In On Palomar
Several hedge funds have recently modified their holdings of PLMR. Vanguard Group Inc. raised its stake in shares of Palomar by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 2,574,923 shares of the company’s stock worth $271,886,000 after buying an additional 53,123 shares during the period. State Street Corp lifted its stake in shares of Palomar by 3.0% in the third quarter. State Street Corp now owns 1,097,702 shares of the company’s stock worth $103,919,000 after buying an additional 32,151 shares in the last quarter. American Century Companies Inc. lifted its stake in Palomar by 36.6% in the 4th quarter. American Century Companies Inc. now owns 785,419 shares of the company’s stock worth $82,932,000 after purchasing an additional 210,523 shares in the last quarter. Geode Capital Management LLC boosted its stake in Palomar by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 618,840 shares of the company’s stock worth $65,358,000 after buying an additional 18,748 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Palomar by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 561,740 shares of the company’s stock valued at $59,313,000 after acquiring an additional 17,320 shares during the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.
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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