Palomar (NASDAQ:PLMR) had its price target lifted by analysts at Keefe, Bruyette & Woods from $69.00 to $95.00 in a report issued on Monday, The Fly reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 10.77% from the stock’s current price.
PLMR has been the subject of several other research reports. Zacks Investment Research upgraded shares of Palomar from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a report on Wednesday, May 20th. BidaskClub upgraded Palomar from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Piper Sandler increased their target price on shares of Palomar from $64.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, JPMorgan Chase & Co. raised their price target on Palomar from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Palomar currently has an average rating of “Buy” and a consensus price target of $67.71.
Shares of PLMR opened at $85.76 on Monday. The firm has a market capitalization of $1.91 billion, a P/E ratio of 55.69 and a beta of -0.12. Palomar has a 52 week low of $23.47 and a 52 week high of $87.14. The stock has a 50 day moving average price of $73.36 and a two-hundred day moving average price of $58.20.
In related news, insider Andrew T. Robinson sold 2,500 shares of Palomar stock in a transaction on Friday, June 12th. The stock was sold at an average price of $79.52, for a total value of $198,800.00. Following the completion of the sale, the insider now owns 129,115 shares of the company’s stock, valued at $10,267,224.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Heath A. Fisher sold 5,000 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $82.86, for a total value of $414,300.00. Following the completion of the transaction, the president now directly owns 25,000 shares in the company, valued at approximately $2,071,500. The disclosure for this sale can be found here. Insiders have sold 1,211,092 shares of company stock worth $74,465,825 over the last three months. Insiders own 7.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in PLMR. California Public Employees Retirement System bought a new stake in Palomar during the 4th quarter worth approximately $332,000. US Bancorp DE bought a new stake in Palomar during the fourth quarter valued at about $25,000. New York State Common Retirement Fund boosted its stake in shares of Palomar by 15.0% in the fourth quarter. New York State Common Retirement Fund now owns 21,061 shares of the company’s stock worth $1,063,000 after acquiring an additional 2,748 shares during the period. Rhumbline Advisers purchased a new stake in shares of Palomar during the fourth quarter worth about $649,000. Finally, Swiss National Bank bought a new stake in Palomar during the 4th quarter valued at approximately $1,096,000. 80.20% of the stock is owned by institutional investors and hedge funds.
There is no company description available for Palomar Holdings Inc
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