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

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

PLMR has been the topic of a number of research reports. Zacks Investment Research cut Palomar from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 16th. JMP Securities initiated coverage on Palomar in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $50.00 target price for the company. Barclays raised their target price on Palomar from $30.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their price target on shares of Palomar from $27.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Palomar from $42.00 to $48.00 in a report on Wednesday, November 6th.

PLMR traded up $0.24 on Friday, hitting $50.80. 164,200 shares of the stock traded hands, compared to its average volume of 162,945. Palomar has a 52 week low of $18.06 and a 52 week high of $55.67. The business has a fifty day moving average price of $46.63 and a two-hundred day moving average price of $33.91.

Palomar (NASDAQ:PLMR) last posted 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 analysts’ expectations of $30.09 million. Equities research analysts expect that Palomar will post 1.72 EPS for the current year.

In other Palomar news, major shareholder Vi Gp Aiv Ltd. Genstar sold 787,500 shares of Palomar stock in a transaction 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, President Heath A. Fisher sold 35,000 shares of Palomar stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $36.50, for a total value of $1,277,500.00. Insiders sold 6,037,500 shares of company stock valued at $211,694,890 in the last three months.

Institutional investors have recently made changes to their positions in the stock. Strs Ohio bought a new stake in Palomar during the 2nd quarter worth approximately $36,000. JPMorgan Chase & Co. acquired a new position in shares of Palomar during the second quarter worth approximately $39,000. Atwood & Palmer Inc. acquired a new position in shares of Palomar during the third quarter worth approximately $39,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Palomar during the second quarter valued at approximately $201,000. Finally, LPL Financial LLC bought a new stake in shares of Palomar during the second quarter valued at approximately $203,000. Institutional investors and hedge funds own 54.61% of the company’s stock.

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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