Brokerages Set Palomar Holdings, Inc. (NASDAQ:PLMR) PT at $127.83

Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) have been assigned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $127.83.

PLMR has been the subject of several research reports. Keefe, Bruyette & Woods increased their price objective on shares of Palomar from $152.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, March 21st. 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. JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a research note on Thursday, February 13th. Finally, Piper Sandler lifted 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.

Palomar Stock Performance

Shares of PLMR stock opened at $136.60 on Tuesday. The stock has a fifty day simple moving average of $120.41 and a two-hundred day simple moving average of $107.73. Palomar has a 52-week low of $74.09 and a 52-week high of $137.89. The firm has a market capitalization of $3.64 billion, a PE ratio of 30.49 and a beta of 0.33.

Palomar (NASDAQ:PLMR) last posted its earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share for the quarter, beating 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 Activity at Palomar

In other news, CEO Mac Armstrong sold 5,000 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $129.72, for a total transaction of $648,600.00. Following the transaction, the chief executive officer now owns 402,388 shares in the company, valued at approximately $52,197,771.36. This trade represents a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Jon Christianson sold 819 shares of the company’s stock in a transaction dated Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total transaction of $86,699.34. Following the completion of the sale, the president now directly owns 55,126 shares of the company’s stock, valued at approximately $5,835,638.36. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,455 shares of company stock worth $3,911,340 in the last quarter. 4.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palomar

Several large investors have recently modified their holdings of the business. Blue Trust Inc. purchased a new position in Palomar in the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC grew its position in shares of Palomar by 536.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 414 shares of the company’s stock worth $43,000 after buying an additional 349 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Palomar by 63.2% in the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company’s stock worth $52,000 after buying an additional 191 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Palomar by 21.8% during the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company’s stock worth $58,000 after acquiring an additional 99 shares in the last quarter. Finally, KBC Group NV lifted its position in Palomar by 44.9% during the fourth quarter. KBC Group NV now owns 1,045 shares of the company’s stock valued at $110,000 after acquiring an additional 324 shares during the last quarter. Institutional investors 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.