Palomar (NASDAQ:PLMR) Given New $171.00 Price Target at Keefe, Bruyette & Woods

Palomar (NASDAQ:PLMR) had its target price upped by Keefe, Bruyette & Woods from $170.00 to $171.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 30.69% from the stock’s previous close.

Several other analysts also recently issued reports on PLMR. JPMorgan Chase & Co. boosted their price objective on Palomar from $137.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Palomar in a research report on Wednesday, October 8th. Evercore ISI cut their price target on shares of Palomar from $168.00 to $134.00 and set an “in-line” rating on the stock in a report on Wednesday, October 1st. Finally, Wall Street Zen lowered shares of Palomar from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $157.83.

Palomar Price Performance

Shares of NASDAQ:PLMR traded down $5.23 on Tuesday, reaching $130.85. 107,471 shares of the company traded hands, compared to its average volume of 201,157. The stock has a market capitalization of $3.47 billion, a PE ratio of 20.51 and a beta of 0.42. The company’s 50 day moving average is $125.70 and its 200-day moving average is $126.38. Palomar has a fifty-two week low of $98.42 and a fifty-two week high of $175.85.

Palomar (NASDAQ:PLMR) last issued its earnings results on Friday, December 16th. The company reported $0.07 earnings per share (EPS) for the quarter. Palomar had a return on equity of 21.93% and a net margin of 22.59%.The business had revenue of $65.74 million for the quarter. As a group, analysts expect that Palomar will post 5.99 EPS for the current year.

Insider Activity at Palomar

In other Palomar news, CEO Mac Armstrong sold 5,000 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $122.86, for a total value of $614,300.00. Following the transaction, the chief executive officer directly owned 358,388 shares of the company’s stock, valued at $44,031,549.68. This represents a 1.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO T Christopher Uchida sold 782 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $128.84, for a total value of $100,752.88. Following the sale, the chief financial officer directly owned 7,916 shares of the company’s stock, valued at $1,019,897.44. This trade represents a 8.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 16,494 shares of company stock valued at $2,004,566 over the last ninety days. 3.70% of the stock is owned by company insiders.

Institutional Trading of Palomar

Large investors have recently added to or reduced their stakes in the business. Allworth Financial LP lifted its position in shares of Palomar by 1,970.0% in the second quarter. Allworth Financial LP now owns 207 shares of the company’s stock worth $32,000 after buying an additional 197 shares during the last quarter. Salomon & Ludwin LLC bought a new position in shares of Palomar in the 3rd quarter valued at approximately $25,000. Richardson Financial Services Inc. raised its stake in shares of Palomar by 210.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 217 shares of the company’s stock valued at $25,000 after acquiring an additional 147 shares in the last quarter. Maseco LLP acquired a new stake in Palomar in the 2nd quarter worth approximately $45,000. Finally, Hollencrest Capital Management boosted its position in Palomar by 56.5% during the second quarter. Hollencrest Capital Management now owns 313 shares of the company’s stock worth $48,000 after purchasing an additional 113 shares during the period. 90.25% of the stock is owned by institutional investors.

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.