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.
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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