Palomar Holdings, Inc. (NASDAQ:PLMR) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $62.50.

Separately, Jefferies Financial Group dropped their price target on shares of Palomar from $59.00 to $56.00 and set a “hold” rating on the stock in a research note on Thursday, September 7th.

Palomar Stock Up 3.2 %

Shares of Palomar stock opened at $59.60 on Friday. Palomar has a 52-week low of $43.63 and a 52-week high of $71.99. The company’s 50-day simple moving average is $51.81 and its 200-day simple moving average is $53.68. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 21.06 and a beta of 0.10.

Insider Buying and Selling

In related news, CFO T Christopher Uchida sold 2,000 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $56.80, for a total transaction of $113,600.00. Following the sale, the chief financial officer now owns 25,365 shares of the company’s stock, valued at $1,440,732. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.40% of the stock is owned by insiders.

Institutional Trading of Palomar

Several institutional investors and hedge funds have recently modified their holdings of PLMR. UBS Group AG raised its position in shares of Palomar by 7,440.0% in the third quarter. UBS Group AG now owns 377 shares of the company’s stock valued at $32,000 after buying an additional 372 shares during the last quarter. Pinebridge Investments L.P. acquired a new position in shares of Palomar in the second quarter valued at approximately $25,000. Lazard Asset Management LLC acquired a new position in shares of Palomar in the first quarter valued at approximately $55,000. FMR LLC raised its position in shares of Palomar by 89.9% in the first quarter. FMR LLC now owns 864 shares of the company’s stock valued at $48,000 after buying an additional 409 shares during the last quarter. Finally, Advisor Group Holdings Inc. raised its position in shares of Palomar by 34.1% in the first quarter. Advisor Group Holdings Inc. now owns 1,470 shares of the company’s stock valued at $94,000 after buying an additional 374 shares during the last quarter. Hedge funds and other institutional investors own 88.33% of the company’s stock.

Palomar Company Profile

Palomar Holdings, Inc, an insurance holding 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.