Palomar (NASDAQ:PLMR) Price Target Raised to $100.00 at JPMorgan Chase & Co.

Palomar (NASDAQ:PLMR) had its price target raised by JPMorgan Chase & Co. from $93.00 to $100.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research firms also recently issued reports on PLMR. Jefferies Financial Group upped their target price on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI boosted their price target on shares of 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 price objective on shares of Palomar from $100.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Piper Sandler upped their target price on shares of Palomar from $99.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, Keefe, Bruyette & Woods increased 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. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $109.00.

Palomar Stock Performance

Shares of NASDAQ PLMR traded up $4.33 during trading on Thursday, reaching $100.10. The company had a trading volume of 295,653 shares, compared to its average volume of 163,101. Palomar has a 52 week low of $54.50 and a 52 week high of $103.40. The business’s 50 day moving average price is $95.26 and its 200-day moving average price is $89.44. The stock has a market cap of $2.65 billion, a PE ratio of 23.78 and a beta of 0.34.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.20. The firm had revenue of $148.50 million for the quarter, compared to analyst estimates of $134.72 million. Palomar had a return on equity of 19.65% and a net margin of 21.55%. During the same period last year, the company earned $0.80 EPS. Equities analysts anticipate that Palomar will post 4.35 earnings per share for the current year.

Insider Activity

In other Palomar news, CFO T Christopher Uchida sold 1,750 shares of Palomar stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $99.00, for a total transaction of $173,250.00. Following the transaction, the chief financial officer now directly owns 20,594 shares in the company, valued at approximately $2,038,806. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, President Jon Christianson sold 10,000 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $94.40, for a total transaction of $944,000.00. Following the completion of the sale, the president now owns 51,926 shares of the company’s stock, valued at $4,901,814.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO T Christopher Uchida sold 1,750 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $99.00, for a total transaction of $173,250.00. Following the completion of the sale, the chief financial officer now directly owns 20,594 shares in the company, valued at $2,038,806. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,770 shares of company stock valued at $3,461,986 in the last quarter. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Palomar

Several hedge funds and other institutional investors have recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Palomar during the third quarter worth about $25,000. GAMMA Investing LLC boosted its position in Palomar by 48.6% during the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $36,000 after acquiring an additional 125 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Palomar by 490.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $43,000 after acquiring an additional 378 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Palomar in the second quarter valued at approximately $49,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Palomar in the first quarter worth $59,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

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.