Shares of Palomar Holdings, Inc. (NASDAQ:PLMR – Get Free Report) have been given an average rating of “Moderate Buy” by the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $101.33.
PLMR has been the subject of several recent analyst reports. Keefe, Bruyette & Woods lifted their price target on Palomar from $96.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Piper Sandler boosted their target price on Palomar from $99.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Evercore ISI boosted their price objective on Palomar from $90.00 to $99.00 and gave the stock an “in-line” rating in a research note on Tuesday, August 6th. Truist Financial raised their target price on Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Palomar from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Thursday, July 11th.
Read Our Latest Analysis on Palomar
Insider Buying and Selling
Institutional Investors Weigh In On Palomar
Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in shares of Palomar by 48.6% during the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after acquiring an additional 125 shares in the last quarter. Arizona State Retirement System grew its holdings in Palomar by 2.4% during the 2nd quarter. Arizona State Retirement System now owns 6,961 shares of the company’s stock valued at $565,000 after purchasing an additional 164 shares in the last quarter. CWM LLC increased its stake in Palomar by 15.7% during the 2nd quarter. CWM LLC now owns 1,601 shares of the company’s stock worth $130,000 after buying an additional 217 shares during the period. Covestor Ltd boosted its position in Palomar by 29.0% in the 1st quarter. Covestor Ltd now owns 1,183 shares of the company’s stock valued at $99,000 after buying an additional 266 shares during the last quarter. Finally, Conestoga Capital Advisors LLC grew its stake in shares of Palomar by 1.0% during the first quarter. Conestoga Capital Advisors LLC now owns 27,407 shares of the company’s stock valued at $2,298,000 after acquiring an additional 270 shares in the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.
Palomar Stock Performance
NASDAQ:PLMR opened at $95.49 on Tuesday. The firm has a 50-day simple moving average of $94.91 and a 200-day simple moving average of $87.04. Palomar has a one year low of $48.08 and a one year high of $103.40. The firm has a market cap of $2.39 billion, a P/E ratio of 27.44 and a beta of 0.33.
Palomar (NASDAQ:PLMR – Get Free Report) last issued its quarterly earnings results on Monday, August 5th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.16. The business had revenue of $123.08 million for the quarter, compared to analyst estimates of $338.74 million. Palomar had a net margin of 21.63% and a return on equity of 20.83%. Palomar’s revenue for the quarter was up 47.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 EPS. On average, research analysts predict that Palomar will post 4.37 EPS for the current fiscal year.
About Palomar
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.
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