Palomar (NASDAQ:PLMR) Given New $48.00 Price Target at Keefe, Bruyette & Woods

Palomar (NASDAQ:PLMR) had its price objective hoisted by Keefe, Bruyette & Woods from $42.00 to $48.00 in a report published on Wednesday, The Fly reports.

A number of other equities research analysts also recently issued reports on the company. Zacks Investment Research downgraded Palomar from a strong-buy rating to a hold rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price objective on Palomar from $27.00 to $40.00 and gave the company an overweight rating in a research report on Tuesday, August 13th. Evercore ISI restated a buy rating on shares of Palomar in a research report on Monday, August 12th. SunTrust Banks upped their price objective on Palomar to $50.00 and gave the company a positive rating in a research report on Wednesday. They noted that the move was a valuation call. Finally, Barclays upped their price objective on Palomar from $30.00 to $36.00 and gave the company an equal weight rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Palomar has a consensus rating of Buy and an average target price of $43.67.

NASDAQ:PLMR traded up $0.28 during mid-day trading on Wednesday, hitting $45.12. 110,500 shares of the company traded hands, compared to its average volume of 159,305. Palomar has a one year low of $18.06 and a one year high of $46.68. The stock’s fifty day moving average price is $40.89 and its 200-day moving average price is $30.21.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). The business had revenue of $30.10 million during the quarter, compared to analyst estimates of $30.09 million. Equities analysts forecast that Palomar will post 1.74 earnings per share for the current fiscal year.

In other news, President Heath A. Fisher sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $36.50, for a total transaction of $1,277,500.00. Also, major shareholder Vi Gp Aiv Ltd. Genstar sold 787,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $35.04, for a total value of $27,594,000.00. In the last ninety days, insiders have sold 6,037,500 shares of company stock worth $211,694,890.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Atwood & Palmer Inc. bought a new position in shares of Palomar during the third quarter valued at approximately $39,000. Strs Ohio bought a new position in shares of Palomar during the second quarter valued at approximately $36,000. JPMorgan Chase & Co. bought a new position in shares of Palomar during the second quarter valued at approximately $39,000. Quantitative Systematic Strategies LLC bought a new position in shares of Palomar during the second quarter valued at approximately $201,000. Finally, LPL Financial LLC bought a new position in shares of Palomar during the second quarter valued at approximately $203,000. 30.34% of the stock is currently owned by hedge funds and other institutional investors.

About Palomar

There is no company description available for Palomar Holdings Inc

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