Palomar Holdings, Inc. (NASDAQ:PLMR) Receives Consensus Rating of “Moderate Buy” from Analysts

Palomar Holdings, Inc. (NASDAQ:PLMR) has been given a consensus rating of “Moderate Buy” by the eight research firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $157.6667.

PLMR has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of Palomar from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Keefe, Bruyette & Woods lifted their price target on shares of Palomar from $164.00 to $170.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 11th. Evercore ISI reduced their price target on shares of Palomar from $168.00 to $134.00 and set an “in-line” rating for the company in a research report on Wednesday, October 1st. JPMorgan Chase & Co. raised their price objective on Palomar from $137.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Palomar in a research report on Wednesday, October 8th.

Palomar Stock Performance

NASDAQ:PLMR opened at $136.29 on Thursday. Palomar has a 1 year low of $98.42 and a 1 year high of $175.85. The stock has a market cap of $3.61 billion, a P/E ratio of 21.26 and a beta of 0.50. The stock has a 50-day simple moving average of $122.35 and a 200-day simple moving average of $127.96.

Palomar (NASDAQ:PLMR) last posted its earnings results on Friday, December 16th. The company reported $0.07 earnings per share for the quarter. The firm had revenue of $65.74 million during the quarter. Palomar had a return on equity of 21.93% and a net margin of 22.59%. On average, equities research analysts predict that Palomar will post 5.99 EPS for the current year.

Insider Transactions at Palomar

In other Palomar news, CEO Mac Armstrong sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $122.86, for a total value of $614,300.00. Following the completion of the sale, the chief executive officer owned 358,388 shares in the company, valued at approximately $44,031,549.68. The trade was a 1.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathan Knutzen sold 281 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $128.84, for a total transaction of $36,204.04. Following the transaction, the insider owned 21,565 shares in the company, valued at approximately $2,778,434.60. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 14,803 shares of company stock worth $1,768,671. 3.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palomar

Several hedge funds have recently made changes to their positions in PLMR. Salomon & Ludwin LLC acquired a new position in Palomar in the 3rd quarter valued at about $25,000. Richardson Financial Services Inc. grew its stake in shares of Palomar by 210.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 217 shares of the company’s stock valued at $25,000 after purchasing an additional 147 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Palomar by 1,970.0% in the second quarter. Allworth Financial LP now owns 207 shares of the company’s stock valued at $32,000 after purchasing an additional 197 shares during the period. Maseco LLP purchased a new stake in shares of Palomar during the second quarter worth approximately $45,000. Finally, Clearstead Advisors LLC raised its stake in shares of Palomar by 31.0% during the third quarter. Clearstead Advisors LLC now owns 397 shares of the company’s stock worth $46,000 after purchasing an additional 94 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

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.