Palomar (NASDAQ:PLMR) Price Target Raised to $152.00 at Keefe, Bruyette & Woods

Palomar (NASDAQ:PLMR) had its price objective increased by Keefe, Bruyette & Woods from $136.00 to $152.00 in a research report report published on Tuesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. increased their price target on Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. JMP Securities reissued a “market perform” rating on shares of Palomar in a research report on Thursday, February 13th. Truist Financial boosted their price target on Palomar from $112.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, Piper Sandler raised their price objective on shares of Palomar from $133.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $127.33.

Palomar Price Performance

Palomar stock opened at $124.13 on Tuesday. Palomar has a one year low of $71.54 and a one year high of $128.38. The business’s fifty day moving average is $108.01 and its 200 day moving average is $101.34. The stock has a market capitalization of $3.29 billion, a PE ratio of 29.48 and a beta of 0.38.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.13. Palomar had a net margin of 21.55% and a return on equity of 19.65%. As a group, sell-side analysts expect that Palomar will post 4.33 EPS for the current fiscal year.

Insider Transactions at Palomar

In other news, President Jon Christianson sold 819 shares of the stock in a transaction on Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total value 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 $5,835,638.36. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO T Christopher Uchida sold 1,030 shares of Palomar stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $110.85, for a total transaction of $114,175.50. Following the transaction, the chief financial officer now owns 15,994 shares in the company, valued at approximately $1,772,934.90. This trade represents a 6.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,933 shares of company stock valued at $4,030,156 over the last quarter. 4.30% of the stock is currently owned by company insiders.

Institutional Trading of Palomar

Several institutional investors have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. purchased a new position in Palomar during the third quarter valued at $25,000. Blue Trust Inc. purchased a new position in shares of Palomar during the fourth quarter valued at about $26,000. Farther Finance Advisors LLC grew its position in shares of Palomar by 490.9% during the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $43,000 after purchasing an additional 378 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Palomar by 536.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 414 shares of the company’s stock worth $43,000 after purchasing an additional 349 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in Palomar by 63.2% during the fourth quarter. Jones Financial Companies Lllp now owns 493 shares of the company’s stock valued at $52,000 after buying an additional 191 shares during the last quarter. Hedge funds and other 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.