Brokerages Set Palomar Holdings, Inc. (NASDAQ:PLMR) PT at $115.50

Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) have received a consensus rating of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $115.50.

A number of research firms have recently weighed in on PLMR. JPMorgan Chase & Co. upped their price target on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods upped their target price on Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Piper Sandler lifted their price target on Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, January 6th.

Palomar Stock Down 0.7 %

PLMR stock opened at $109.92 on Monday. The company has a 50 day moving average of $106.95 and a two-hundred day moving average of $100.10. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 26.11 and a beta of 0.38. Palomar has a 12-month low of $58.77 and a 12-month high of $112.90.

Insiders Place Their Bets

In related news, insider Angela L. Grant sold 1,505 shares of the business’s stock in a transaction that occurred on Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total value of $159,319.30. Following the completion of the sale, the insider now directly owns 2,534 shares in the company, valued at approximately $268,249.24. The trade was a 37.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mac Armstrong sold 7,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $103.04, for a total value of $721,280.00. Following the transaction, the chief executive officer now owns 419,388 shares in the company, valued at approximately $43,213,739.52. This trade represents a 1.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,933 shares of company stock valued at $4,030,156 over the last quarter. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Palomar in the third quarter worth about $25,000. Blue Trust Inc. acquired a new stake in Palomar in the 4th quarter valued at approximately $26,000. GAMMA Investing LLC increased its position in Palomar by 48.6% in the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $36,000 after buying an additional 125 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Palomar by 490.9% during the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $43,000 after buying an additional 378 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Palomar by 536.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 414 shares of the company’s stock valued at $43,000 after acquiring an additional 349 shares during the period. Institutional investors and hedge funds 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.