Palomar Holdings, Inc. (NASDAQ:PLMR) Receives $150.00 Average Target Price from Analysts

Palomar Holdings, Inc. (NASDAQ:PLMR) has been assigned an average rating of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $158.25.

A number of analysts have issued reports on PLMR shares. Keefe, Bruyette & Woods boosted their price target on shares of Palomar from $162.00 to $166.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Evercore set a $152.00 price objective on Palomar in a report on Friday, July 10th. Piper Sandler increased their price target on shares of Palomar from $132.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday. Weiss Ratings raised Palomar from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 18th. Finally, Zacks Research cut shares of Palomar from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th.

Palomar Trading Up 0.9%

Palomar stock opened at $135.44 on Monday. Palomar has a 52-week low of $100.81 and a 52-week high of $147.62. The company has a market cap of $3.59 billion, a P/E ratio of 18.86 and a beta of 0.41. The business has a 50-day simple moving average of $119.29 and a two-hundred day simple moving average of $123.22. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.31.

Palomar (NASDAQ:PLMR) last announced its earnings results on Wednesday, May 6th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.14. The firm had revenue of $278.94 million during the quarter, compared to analysts’ expectations of $557.79 million. Palomar had a return on equity of 22.62% and a net margin of 20.11%.The company’s quarterly revenue was up 59.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.87 EPS. Analysts predict that Palomar will post 8.9 EPS for the current year.

Insider Activity at Palomar

In related news, President Jon Christianson sold 6,863 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $139.50, for a total value of $957,388.50. Following the completion of the transaction, the president owned 66,478 shares in the company, valued at $9,273,681. This represents a 9.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Timothy Carter sold 480 shares of the business’s stock in a transaction on Sunday, June 28th. The stock was sold at an average price of $124.29, for a total value of $59,659.20. Following the completion of the sale, the insider directly owned 1,670 shares in the company, valued at $207,564.30. This represents a 22.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 17,843 shares of company stock valued at $2,270,468. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Palomar

Several institutional investors and hedge funds have recently bought and sold shares of the stock. HighTower Advisors LLC grew its position in shares of Palomar by 652.7% in the 4th quarter. HighTower Advisors LLC now owns 17,613 shares of the company’s stock valued at $2,374,000 after purchasing an additional 15,273 shares during the period. Moran Wealth Management LLC acquired a new position in shares of Palomar in the fourth quarter valued at approximately $2,473,000. Stephens Investment Management Group LLC boosted its holdings in shares of Palomar by 19.8% in the fourth quarter. Stephens Investment Management Group LLC now owns 694,317 shares of the company’s stock valued at $93,566,000 after buying an additional 114,859 shares during the period. Danske Bank A S increased its position in shares of Palomar by 69.9% during the fourth quarter. Danske Bank A S now owns 138,295 shares of the company’s stock worth $18,637,000 after acquiring an additional 56,898 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Palomar by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 2,698,278 shares of the company’s stock worth $363,620,000 after acquiring an additional 67,038 shares during the period. 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.