Palomar Holdings Inc (NASDAQ:PLMR) Receives $44.80 Consensus Price Target from Brokerages

Palomar Holdings Inc (NASDAQ:PLMR) has been assigned a consensus recommendation of “Buy” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $44.80.

Several equities research analysts have recently weighed in on the company. SunTrust Banks increased their price objective on Palomar to $50.00 and gave the company a “positive” rating in a report on Wednesday, November 6th. They noted that the move was a valuation call. Barclays raised their target price on shares of Palomar from $30.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods lifted their target price on shares of Palomar from $42.00 to $48.00 in a report on Wednesday, November 6th. JPMorgan Chase & Co. upped their price target on shares of Palomar from $27.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Finally, Evercore ISI reiterated a “buy” rating on shares of Palomar in a research note on Monday, August 12th.

Shares of NASDAQ PLMR traded up $0.95 during trading hours on Friday, reaching $51.75. The stock had a trading volume of 147,603 shares, compared to its average volume of 162,850. The firm has a 50-day moving average of $47.04 and a 200-day moving average of $34.20. Palomar has a fifty-two week low of $18.06 and a fifty-two week high of $55.67.

Palomar (NASDAQ:PLMR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). The business had revenue of $30.10 million during the quarter, compared to the consensus estimate of $30.09 million. Sell-side analysts anticipate that Palomar will post 1.72 earnings per share for the current year.

In other Palomar news, major shareholder Vi Gp Aiv Ltd. Genstar sold 787,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $35.04, for a total transaction of $27,594,000.00. Also, CEO Mac Armstrong sold 40,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $36.50, for a total value of $1,460,000.00. In the last three months, insiders have sold 6,037,500 shares of company stock worth $211,694,890.

Large investors have recently added to or reduced their stakes in the company. Strs Ohio purchased a new stake in shares of Palomar during the second quarter worth approximately $36,000. JPMorgan Chase & Co. acquired a new stake in shares of Palomar during the second quarter worth $39,000. Atwood & Palmer Inc. acquired a new stake in shares of Palomar during the third quarter worth $39,000. Quantitative Systematic Strategies LLC purchased a new position in Palomar in the 2nd quarter valued at $201,000. Finally, LPL Financial LLC purchased a new position in Palomar in the 2nd quarter valued at $203,000. 54.61% of the stock is currently owned by institutional investors and hedge funds.

Palomar Company Profile

There is no company description available for Palomar Holdings Inc

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Analyst Recommendations for Palomar (NASDAQ:PLMR)

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