Palomar Holdings, Inc. (NASDAQ:PLMR) Given Consensus Rating of “Moderate Buy” by Analysts

Palomar Holdings, Inc. (NASDAQ:PLMR) has been assigned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $127.83.

Several equities research analysts recently issued reports on PLMR shares. Keefe, Bruyette & Woods lifted their price objective on Palomar from $152.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. Piper Sandler lifted their price target on Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. JMP Securities reissued a “market perform” rating on shares of Palomar in a research note on Thursday, February 13th. Finally, Truist Financial lifted their target price on shares of Palomar from $112.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, February 14th.

Insider Buying and Selling at Palomar

In other news, CFO T Christopher Uchida sold 864 shares of Palomar stock in a transaction that occurred on Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total transaction of $91,463.04. Following the sale, the chief financial officer now owns 17,288 shares of the company’s stock, valued at approximately $1,830,107.68. The trade was a 4.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Angela L. Grant sold 1,505 shares of the stock in a transaction that occurred on Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total value of $159,319.30. Following the completion of the transaction, the insider now owns 2,534 shares of the company’s stock, valued at $268,249.24. The trade was a 37.26 % 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 three months. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palomar

Several large investors have recently modified their holdings of the business. Dakota Wealth Management raised its holdings in Palomar by 3.1% in the 4th quarter. Dakota Wealth Management now owns 3,070 shares of the company’s stock valued at $324,000 after buying an additional 92 shares during the period. Farther Finance Advisors LLC increased its position in shares of Palomar by 21.8% during the fourth quarter. Farther Finance Advisors LLC now owns 554 shares of the company’s stock valued at $58,000 after acquiring an additional 99 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Palomar by 0.7% in the 4th quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company’s stock valued at $1,588,000 after acquiring an additional 100 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Palomar by 0.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company’s stock worth $1,352,000 after acquiring an additional 100 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in shares of Palomar by 2.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,837 shares of the company’s stock worth $616,000 after purchasing an additional 145 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Palomar Price Performance

Shares of PLMR stock opened at $136.77 on Tuesday. The stock has a 50 day simple moving average of $120.94 and a 200-day simple moving average of $108.12. Palomar has a 1-year low of $74.09 and a 1-year high of $138.69. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 30.53 and a beta of 0.33.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.37 earnings per share (EPS) 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%. Analysts anticipate that Palomar will post 5.99 earnings per share for the current fiscal year.

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.