Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) hit a new 52-week high during trading on Friday . The company traded as high as $128.85 and last traded at $128.66, with a volume of 371869 shares trading hands. The stock had previously closed at $122.59.
A number of brokerages have recently commented on PLMR. Truist Financial upped their price target on Palomar from $112.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, February 14th. JPMorgan Chase & Co. increased their price objective on Palomar from $93.00 to $100.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Piper Sandler increased their price objective on Palomar from $133.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Keefe, Bruyette & Woods increased their price objective on Palomar from $136.00 to $152.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Finally, JMP Securities reissued a "market perform" rating on shares of Palomar in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $127.33.
Check Out Our Latest Stock Report on Palomar
The firm has a market capitalization of $3.41 billion, a P/E ratio of 28.72 and a beta of 0.38. The business has a 50 day simple moving average of $110.74 and a two-hundred day simple moving average of $103.19.
Palomar (NASDAQ:PLMR - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $0.13. Palomar had a return on equity of 19.76% and a net margin of 21.23%. On average, equities analysts anticipate that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.
In other news, CFO T Christopher Uchida sold 394 shares of the stock in a transaction dated Sunday, January 26th. The stock was sold at an average price of $101.69, for a total transaction of $40,065.86. Following the transaction, the chief financial officer now directly owns 16,943 shares in the company, valued at approximately $1,722,933.67. This represents a 2.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Jon Christianson sold 819 shares of the stock in a transaction dated Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total value of $86,699.34. Following the transaction, the president now owns 55,126 shares in the company, valued at $5,835,638.36. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,485 shares of company stock worth $4,098,195 in the last ninety days. 4.30% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the business. Dakota Wealth Management lifted its holdings in Palomar by 3.1% in the 4th quarter. Dakota Wealth Management now owns 3,070 shares of the company's stock worth $324,000 after buying an additional 92 shares during the period. Farther Finance Advisors LLC lifted its holdings in Palomar by 21.8% in the 4th quarter. Farther Finance Advisors LLC now owns 554 shares of the company's stock worth $58,000 after buying an additional 99 shares during the period. State of Alaska Department of Revenue lifted its holdings in Palomar by 0.7% in the 4th quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company's stock worth $1,588,000 after buying an additional 100 shares during the period. Louisiana State Employees Retirement System lifted its holdings in Palomar by 0.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company's stock worth $1,352,000 after buying an additional 100 shares during the period. Finally, Avantax Advisory Services Inc. lifted its holdings in Palomar by 2.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 5,837 shares of the company's stock worth $616,000 after buying an additional 145 shares during the period. 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.
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