Palomar Holdings, Inc. (NASDAQ:PLMR) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) have earned a consensus rating of “Moderate Buy” from the six research firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $158.25.

PLMR has been the subject of several recent analyst reports. Evercore set a $152.00 price objective on shares of Palomar in a research report on Friday, July 10th. JPMorgan Chase & Co. decreased their target price on shares of Palomar from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th. Keefe, Bruyette & Woods boosted their target price on shares of Palomar from $162.00 to $166.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Zacks Research downgraded shares of Palomar from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Finally, Piper Sandler increased their price target on shares of Palomar from $132.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday.

Palomar Stock Performance

Shares of PLMR stock opened at $135.44 on Monday. The stock has a market cap of $3.59 billion, a P/E ratio of 18.86 and a beta of 0.41. Palomar has a 1 year low of $100.81 and a 1 year high of $147.62. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.31. The stock has a 50 day simple moving average of $119.29 and a 200 day simple moving average of $123.13.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.14. The firm had revenue of $278.94 million during the quarter, compared to analysts’ expectations of $557.79 million. Palomar had a return on equity of 22.62% and a net margin of 20.11%.The company’s quarterly revenue was up 59.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.87 EPS. On average, research analysts predict that Palomar will post 8.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Palomar

In other news, CEO Mac Armstrong sold 3,500 shares of Palomar stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $112.96, for a total value of $395,360.00. Following the transaction, the chief executive officer owned 329,388 shares in the company, valued at approximately $37,207,668.48. This trade represents a 1.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Jon Christianson sold 6,863 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $139.50, for a total value of $957,388.50. Following the transaction, the president directly owned 66,478 shares of the company’s stock, valued at $9,273,681. This trade represents a 9.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 17,843 shares of company stock valued at $2,270,468. 3.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Geneos Wealth Management Inc. bought a new stake in shares of Palomar during the 4th quarter valued at approximately $32,000. Kestra Advisory Services LLC bought a new position in Palomar in the 4th quarter valued at approximately $33,000. Rockefeller Capital Management L.P. lifted its stake in Palomar by 81.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 294 shares of the company’s stock valued at $40,000 after purchasing an additional 132 shares during the last quarter. Parallel Advisors LLC boosted its position in Palomar by 638.3% in the first quarter. Parallel Advisors LLC now owns 443 shares of the company’s stock valued at $53,000 after buying an additional 383 shares in the last quarter. Finally, Frazier Financial Advisors LLC acquired a new stake in Palomar in the fourth quarter valued at approximately $54,000. Institutional investors own 90.25% of the company’s stock.

About Palomar

Palomar Holdings, Inc (NASDAQ: PLMR) is a specialty insurance holding company focused on providing medical stop-loss coverage and related administrative services to self-funded employer health plans in the United States. The firm operates through two primary business segments—Medical Stop-Loss and Specialty Program Management—to deliver tailored risk protection and comprehensive program administration.

In its Medical Stop-Loss segment, Palomar underwrites excess and aggregate stop-loss policies designed to shield self-insured employers from catastrophic medical claims that exceed pre-determined retention levels.