Palomar (PLMR) – Research Analysts’ Weekly Ratings Changes

A number of research firms have changed their ratings and price targets for Palomar (NASDAQ: PLMR):

• 4/15/2024 – Palomar had its “market perform” rating reaffirmed by analysts at JMP Securities.
• 4/11/2024 – Palomar had its price target raised by analysts at Evercore ISI from $68.00 to $86.00. They now have an “in-line” rating on the stock.
• 4/10/2024 – Palomar had its price target raised by analysts at Keefe, Bruyette & Woods from $88.00 to $89.00. They now have an “outperform” rating on the stock.
• 4/8/2024 – Palomar was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $85.00 price target on the stock, up previously from $79.00.
• 4/1/2024 – Palomar had its price target raised by analysts at Piper Sandler from $80.00 to $89.00. They now have an “overweight” rating on the stock.
• 3/14/2024 – Palomar was upgraded by analysts at Jefferies Financial Group Inc. from a “hold” rating to a “buy” rating. They now have a $88.00 price target on the stock, up previously from $78.00.
• 2/21/2024 – Palomar had its price target raised by analysts at Keefe, Bruyette & Woods from $73.00 to $87.00. They now have an “outperform” rating on the stock.

Palomar Stock Up 1.1 %

PLMR stock opened at $77.77 on Friday. The firm has a market cap of $1.94 billion, a PE ratio of 24.93 and a beta of 0.21. The business has a 50 day moving average of $76.59 and a 200-day moving average of $63.86. Palomar Holdings, Inc. has a 12-month low of $46.09 and a 12-month high of $86.25.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.85 by $0.09. Palomar had a return on equity of 19.35% and a net margin of 21.07%. The business had revenue of $102.35 million for the quarter, compared to the consensus estimate of $95.07 million. On average, research analysts expect that Palomar Holdings, Inc. will post 3.84 earnings per share for the current year.

Insider Activity at Palomar

In related news, President Jon Christianson sold 423 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $60.13, for a total value of $25,434.99. Following the transaction, the president now owns 70,612 shares in the company, valued at $4,245,899.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, President Jon Christianson sold 423 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $60.13, for a total value of $25,434.99. Following the transaction, the president now owns 70,612 shares in the company, valued at $4,245,899.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mac Armstrong sold 1,541 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $59.19, for a total value of $91,211.79. Following the sale, the chief executive officer now owns 46,842 shares in the company, valued at approximately $2,772,577.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,509 shares of company stock worth $2,999,157. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Palomar

Institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC lifted its position in shares of Palomar by 0.9% during the third quarter. Los Angeles Capital Management LLC now owns 27,529 shares of the company’s stock worth $1,397,000 after acquiring an additional 256 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Palomar by 26.0% during the third quarter. Westfield Capital Management Co. LP now owns 433,346 shares of the company’s stock worth $21,992,000 after acquiring an additional 89,410 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Palomar by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 195,862 shares of the company’s stock worth $9,940,000 after buying an additional 6,903 shares in the last quarter. Barclays PLC raised its position in shares of Palomar by 11.2% in the third quarter. Barclays PLC now owns 15,059 shares of the company’s stock worth $764,000 after buying an additional 1,514 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of Palomar in the third quarter worth $538,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

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.