Palomar Holdings, Inc. (NASDAQ:PLMR - Get Free Report) Director Thomas A. Bradley bought 1,000 shares of the company's stock in a transaction that occurred on Tuesday, May 7th. The shares were purchased at an average price of $84.32 per share, with a total value of $84,320.00. Following the transaction, the director now directly owns 2,500 shares in the company, valued at $210,800. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Palomar Price Performance
Shares of NASDAQ PLMR opened at $84.76 on Thursday. Palomar Holdings, Inc. has a one year low of $46.09 and a one year high of $86.25. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 24.36 and a beta of 0.24. The stock's fifty day moving average price is $79.43 and its two-hundred day moving average price is $66.89.
Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.28. Palomar had a net margin of 21.78% and a return on equity of 19.94%. The firm had revenue of $108.39 million during the quarter, compared to the consensus estimate of $322.10 million. During the same quarter in the previous year, the firm posted $0.80 EPS. The business's revenue for the quarter was up 29.1% compared to the same quarter last year. On average, equities analysts anticipate that Palomar Holdings, Inc. will post 3.84 earnings per share for the current fiscal year.
Analysts Set New Price Targets
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Several brokerages recently issued reports on PLMR. Jefferies Financial Group upgraded Palomar from a "hold" rating to a "buy" rating and boosted their price objective for the company from $78.00 to $88.00 in a research report on Thursday, March 14th. Evercore ISI raised their target price on shares of Palomar from $68.00 to $86.00 and gave the company an "in-line" rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. cut Palomar from an "overweight" rating to a "neutral" rating and lifted their price target for the stock from $79.00 to $85.00 in a report on Monday, April 8th. Piper Sandler upped their price objective on Palomar from $89.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Truist Financial increased their price target on Palomar from $88.00 to $97.00 and gave the company a "buy" rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $89.17.
Get Our Latest Report on Palomar
Institutional Investors Weigh In On Palomar
Large investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System lifted its position in shares of Palomar by 23.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 8,641 shares of the company's stock valued at $724,000 after acquiring an additional 1,650 shares during the period. ProShare Advisors LLC boosted its position in shares of Palomar by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 4,925 shares of the company's stock worth $413,000 after acquiring an additional 339 shares in the last quarter. Sei Investments Co. increased its stake in Palomar by 1.7% in the first quarter. Sei Investments Co. now owns 73,501 shares of the company's stock valued at $6,162,000 after acquiring an additional 1,240 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new position in Palomar during the first quarter valued at approximately $536,000. Finally, Illinois Municipal Retirement Fund lifted its stake in Palomar by 3.8% during the first quarter. Illinois Municipal Retirement Fund now owns 14,348 shares of the company's stock worth $1,203,000 after purchasing an additional 531 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.
Palomar Company Profile
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Get Free Report)
Palomar Holdings, Inc, a specialty insurance company, provides property and casualty insurance to residential and businesses in the United States. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, fronting, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance.
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