Palomar (NASDAQ:PLMR) Price Target Raised to $136.00

Palomar (NASDAQ:PLMR) had its price target upped by Keefe, Bruyette & Woods from $120.00 to $136.00 in a research note issued to investors on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

Several other equities analysts have also issued reports on the company. Truist Financial boosted their target price on Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Piper Sandler lifted their price target on shares of Palomar from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. upped their price objective on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group raised their price objective on Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $111.67.

Palomar Trading Up 1.9 %

Shares of NASDAQ:PLMR opened at $110.45 on Friday. The stock has a market capitalization of $2.92 billion, a P/E ratio of 26.24 and a beta of 0.36. Palomar has a 1-year low of $54.50 and a 1-year high of $112.10. The business has a 50-day moving average price of $99.78 and a two-hundred day moving average price of $92.95.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.20. The firm had revenue of $148.50 million for the quarter, compared to analysts’ expectations of $134.72 million. Palomar had a net margin of 21.55% and a return on equity of 19.65%. During the same period last year, the firm earned $0.80 earnings per share. As a group, equities analysts predict that Palomar will post 4.33 EPS for the current year.

Insider Buying and Selling at Palomar

In other Palomar news, CEO Mac Armstrong sold 7,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $95.49, for a total transaction of $668,430.00. Following the completion of the sale, the chief executive officer now owns 440,388 shares of the company’s stock, valued at $42,052,650.12. This trade represents a 1.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO T Christopher Uchida sold 1,111 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $104.00, for a total transaction of $115,544.00. Following the completion of the transaction, the chief financial officer now owns 16,432 shares in the company, valued at approximately $1,708,928. This represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,326 shares of company stock worth $2,688,779. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale bought a new stake in Palomar in the 1st quarter valued at $59,000. CWM LLC grew its stake in shares of Palomar by 15.7% in the second quarter. CWM LLC now owns 1,601 shares of the company’s stock valued at $130,000 after acquiring an additional 217 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Palomar by 3,117.4% in the second quarter. SG Americas Securities LLC now owns 46,942 shares of the company’s stock valued at $3,809,000 after acquiring an additional 45,483 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Palomar in the 2nd quarter worth about $914,000. Finally, Artemis Investment Management LLP raised its stake in Palomar by 36.1% in the 2nd quarter. Artemis Investment Management LLP now owns 339,464 shares of the company’s stock worth $27,548,000 after purchasing an additional 90,010 shares in the last quarter. 90.25% of the stock is owned by 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.