Palomar (NASDAQ:PLMR) PT Raised to $95.00 at Keefe, Bruyette & Woods

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.

Palomar (NASDAQ:PLMR) last announced its earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.11. The company had revenue of $38.02 million for the quarter, compared to analysts’ expectations of $35.72 million. Palomar had a return on equity of 18.64% and a net margin of 28.53%. During the same quarter in the previous year, the firm earned $0.52 earnings per share. On average, analysts expect that Palomar will post 2.09 earnings per share for the current year.

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.

About Palomar

There is no company description available for Palomar Holdings Inc

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Analyst Recommendations for Palomar (NASDAQ:PLMR)

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