Palomar Holdings, Inc. (NASDAQ:PLMR) Receives $159.50 Consensus Target Price from Brokerages

Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $159.50.

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of Palomar from $170.00 to $171.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. increased their price objective on shares of Palomar from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Evercore ISI decreased their target price on shares of Palomar from $168.00 to $134.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 1st. Wall Street Zen upgraded Palomar from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Finally, Weiss Ratings raised Palomar from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 14th.

Insider Transactions at Palomar

In other Palomar news, President Jon Christianson sold 1,691 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $139.50, for a total transaction of $235,894.50. Following the sale, the president directly owned 59,631 shares of the company’s stock, valued at $8,318,524.50. The trade was a 2.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jonathan Knutzen sold 281 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $128.84, for a total transaction of $36,204.04. Following the completion of the transaction, the insider owned 21,565 shares of the company’s stock, valued at approximately $2,778,434.60. This trade represents a 1.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 15,586 shares of company stock valued at $1,999,706. 3.70% of the stock is currently owned by company insiders.

Institutional Trading of Palomar

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Salomon & Ludwin LLC bought a new position in Palomar during the 3rd quarter worth $25,000. Richardson Financial Services Inc. increased its stake in shares of Palomar by 210.0% in the third quarter. Richardson Financial Services Inc. now owns 217 shares of the company’s stock valued at $25,000 after buying an additional 147 shares during the period. Allworth Financial LP raised its position in shares of Palomar by 1,970.0% during the second quarter. Allworth Financial LP now owns 207 shares of the company’s stock worth $32,000 after acquiring an additional 197 shares during the last quarter. Maseco LLP acquired a new position in shares of Palomar in the second quarter worth approximately $45,000. Finally, Clearstead Advisors LLC boosted its holdings in Palomar by 31.0% in the third quarter. Clearstead Advisors LLC now owns 397 shares of the company’s stock valued at $46,000 after acquiring an additional 94 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Palomar Stock Performance

Shares of PLMR stock opened at $124.95 on Monday. Palomar has a fifty-two week low of $101.64 and a fifty-two week high of $175.85. The stock’s fifty day moving average price is $127.91 and its two-hundred day moving average price is $124.29. The company has a market cap of $3.31 billion, a PE ratio of 19.49 and a beta of 0.42.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Thursday, November 6th. The company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.45. The company had revenue of $244.66 million during the quarter, compared to analysts’ expectations of $207.98 million. Palomar had a return on equity of 21.93% and a net margin of 22.59%.During the same quarter in the previous year, the firm earned $1.23 EPS. On average, equities analysts predict that Palomar will post 5.99 EPS for the current fiscal year.

Palomar Company Profile

Palomar Holdings, Inc (NASDAQ: PLMR) is a specialty insurance holding company focused on providing medical stop-loss coverage and related administrative services to self-funded employer health plans in the United States. The firm operates through two primary business segments—Medical Stop-Loss and Specialty Program Management—to deliver tailored risk protection and comprehensive program administration.

In its Medical Stop-Loss segment, Palomar underwrites excess and aggregate stop-loss policies designed to shield self-insured employers from catastrophic medical claims that exceed pre-determined retention levels.