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

Palomar Holdings, Inc. (NASDAQ:PLMR) has earned an average rating of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $157.6667.

Several analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Palomar in a research note on Wednesday, October 8th. Evercore ISI decreased their price objective on Palomar from $168.00 to $134.00 and set an “in-line” rating on the stock in a report on Wednesday, October 1st. Keefe, Bruyette & Woods increased their target price on Palomar from $164.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, November 11th. JPMorgan Chase & Co. raised their price target on Palomar from $137.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Finally, Wall Street Zen cut Palomar from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th.

Palomar Price Performance

Shares of NASDAQ PLMR opened at $136.29 on Thursday. The stock has a market capitalization of $3.61 billion, a P/E ratio of 21.26 and a beta of 0.50. Palomar has a one year low of $98.42 and a one year high of $175.85. The firm’s 50 day simple moving average is $122.35 and its two-hundred day simple moving average is $127.96.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings data on Friday, December 16th. The company reported $0.07 earnings per share (EPS) for the quarter. Palomar had a net margin of 22.59% and a return on equity of 21.93%. The company had revenue of $65.74 million during the quarter. As a group, equities analysts expect that Palomar will post 5.99 earnings per share for the current fiscal year.

Insider Activity

In other Palomar news, CFO T Christopher Uchida sold 782 shares of the stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $128.84, for a total transaction of $100,752.88. Following the completion of the sale, the chief financial officer owned 7,916 shares of the company’s stock, valued at $1,019,897.44. This represents a 8.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mac Armstrong sold 5,000 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $122.86, for a total transaction of $614,300.00. Following the completion of the sale, the chief executive officer directly owned 358,388 shares in the company, valued at approximately $44,031,549.68. This trade represents a 1.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 14,803 shares of company stock valued at $1,768,671. 3.70% of the stock is owned by corporate insiders.

Institutional Trading of Palomar

Several large investors have recently modified their holdings of PLMR. Dynamic Technology Lab Private Ltd bought a new position in shares of Palomar during the first quarter valued at approximately $314,000. Advisors Asset Management Inc. boosted its holdings in Palomar by 867.0% in the first quarter. Advisors Asset Management Inc. now owns 8,229 shares of the company’s stock valued at $1,128,000 after acquiring an additional 7,378 shares in the last quarter. Trexquant Investment LP purchased a new position in Palomar during the 1st quarter valued at $591,000. Coppell Advisory Solutions LLC raised its holdings in Palomar by 3,912.3% in the 1st quarter. Coppell Advisory Solutions LLC now owns 8,787 shares of the company’s stock worth $1,205,000 after purchasing an additional 8,568 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Palomar by 322.4% in the 1st quarter. Alliancebernstein L.P. now owns 127,383 shares of the company’s stock worth $17,462,000 after purchasing an additional 97,226 shares in the last quarter. 90.25% of the stock is owned by institutional investors.

About Palomar

Palomar Holdings, Inc (NASDAQ: PLMR) is a specialty insurance holding company focused on providing medical stop-loss coverage and related administrative services to self-funded employer health plans in the United States. The firm operates through two primary business segments—Medical Stop-Loss and Specialty Program Management—to deliver tailored risk protection and comprehensive program administration.

In its Medical Stop-Loss segment, Palomar underwrites excess and aggregate stop-loss policies designed to shield self-insured employers from catastrophic medical claims that exceed pre-determined retention levels.