Palomar (NASDAQ:PLMR) Price Target Raised to $113.00 at Jefferies Financial Group

Palomar (NASDAQ:PLMR) had its price objective hoisted by Jefferies Financial Group from $110.00 to $113.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently commented on PLMR. Evercore ISI increased their price target on shares of Palomar from $90.00 to $99.00 and gave the company an in-line rating in a research report on Tuesday, August 6th. Keefe, Bruyette & Woods increased their target price on shares of Palomar from $96.00 to $113.00 and gave the company an outperform rating in a report on Tuesday, August 13th. Piper Sandler boosted their price target on shares of Palomar from $99.00 to $105.00 and gave the stock an overweight rating in a research note on Wednesday, August 7th. Truist Financial raised their price objective on Palomar from $100.00 to $112.00 and gave the company a buy rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their target price on Palomar from $88.00 to $91.00 and gave the company a neutral rating in a report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Palomar has an average rating of Moderate Buy and an average price target of $105.50.

Palomar Trading Down 1.0 %

Shares of NASDAQ:PLMR opened at $95.55 on Wednesday. The company has a 50 day moving average of $95.00 and a 200 day moving average of $87.14. The stock has a market cap of $2.38 billion, a P/E ratio of 27.46 and a beta of 0.33. Palomar has a 12 month low of $48.08 and a 12 month high of $103.40.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings data on Monday, August 5th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.16. The company had revenue of $123.08 million for the quarter, compared to the consensus estimate of $338.74 million. Palomar had a return on equity of 20.83% and a net margin of 21.63%. The firm’s revenue was up 47.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 earnings per share. On average, equities analysts forecast that Palomar will post 4.37 earnings per share for the current fiscal year.

Insider Transactions at Palomar

In related news, President Jon Christianson sold 3,805 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $103.04, for a total transaction of $392,067.20. Following the transaction, the president now owns 51,926 shares in the company, valued at $5,350,455.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Palomar news, President Jon Christianson sold 3,805 shares of Palomar stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $103.04, for a total transaction of $392,067.20. Following the sale, the president now directly owns 51,926 shares of the company’s stock, valued at approximately $5,350,455.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mac Armstrong sold 12,773 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $88.19, for a total value of $1,126,450.87. Following the completion of the transaction, the chief executive officer now owns 59,309 shares of the company’s stock, valued at approximately $5,230,460.71. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,305 shares of company stock valued at $4,856,333. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Palomar

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Palomar by 1.7% during the first quarter. Vanguard Group Inc. now owns 2,403,520 shares of the company’s stock valued at $201,487,000 after purchasing an additional 40,453 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in Palomar by 5.5% in the 1st quarter. Champlain Investment Partners LLC now owns 1,340,795 shares of the company’s stock worth $112,399,000 after acquiring an additional 69,615 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Palomar by 15.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 508,870 shares of the company’s stock valued at $41,295,000 after acquiring an additional 66,478 shares in the last quarter. Artemis Investment Management LLP increased its holdings in shares of Palomar by 12.9% in the 3rd quarter. Artemis Investment Management LLP now owns 383,276 shares of the company’s stock worth $36,285,000 after purchasing an additional 43,812 shares in the last quarter. Finally, Driehaus Capital Management LLC raised its stake in shares of Palomar by 17.1% in the second quarter. Driehaus Capital Management LLC now owns 300,213 shares of the company’s stock worth $24,362,000 after purchasing an additional 43,841 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

About Palomar

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.