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

Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) have received an average recommendation of “Moderate Buy” from the eight analysts that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $157.6667.

Several research firms recently weighed in on PLMR. JPMorgan Chase & Co. lifted their price target on Palomar from $137.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Palomar in a research report on Wednesday, October 8th. Evercore ISI reduced 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 report on Wednesday, October 1st. Wall Street Zen lowered shares of Palomar from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Palomar from $164.00 to $170.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th.

Insider Buying and Selling at Palomar

In other news, President Jon Christianson sold 522 shares of Palomar 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 $67,254.48. Following the completion of the transaction, the president directly owned 59,631 shares in the company, valued at approximately $7,682,858.04. This trade represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan Knutzen sold 281 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $128.84, for a total value of $36,204.04. Following the completion of the sale, the insider owned 21,565 shares in the company, valued at $2,778,434.60. The trade was a 1.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 14,803 shares of company stock valued at $1,768,671 over the last ninety days. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Palomar

Institutional investors have recently modified their holdings of the stock. Allworth Financial LP raised its position in shares of Palomar by 1,970.0% in the 2nd quarter. Allworth Financial LP now owns 207 shares of the company’s stock worth $32,000 after purchasing an additional 197 shares during the last quarter. Salomon & Ludwin LLC purchased a new stake in Palomar during the 3rd quarter valued at about $25,000. Richardson Financial Services Inc. increased its stake in Palomar by 210.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 217 shares of the company’s stock valued at $25,000 after purchasing an additional 147 shares in the last quarter. Maseco LLP purchased a new position in Palomar in the second quarter worth about $45,000. Finally, Hollencrest Capital Management raised its holdings in Palomar by 56.5% in the second quarter. Hollencrest Capital Management now owns 313 shares of the company’s stock worth $48,000 after buying an additional 113 shares during the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Palomar Price Performance

Shares of PLMR opened at $136.29 on Thursday. The company has a 50-day simple moving average of $122.35 and a two-hundred day simple moving average of $127.96. The firm has a market capitalization of $3.61 billion, a PE ratio of 21.26 and a beta of 0.50. Palomar has a one year low of $98.42 and a one year high of $175.85.

Palomar (NASDAQ:PLMR) last posted its earnings results on Friday, December 16th. The company reported $0.07 earnings per share for the quarter. Palomar had a return on equity of 21.93% and a net margin of 22.59%.The firm had revenue of $65.74 million for the quarter. Analysts expect that Palomar will post 5.99 EPS for the current fiscal year.

About Palomar

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.