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

Shares of Palomar Holdings, Inc. (NASDAQ:PLMR) have been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $115.50.

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

Insider Transactions at Palomar

In other news, insider Jonathan Knutzen sold 282 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $104.46, for a total value of $29,457.72. Following the completion of the sale, the insider now owns 20,098 shares in the company, valued at $2,099,437.08. This represents a 1.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Angela L. Grant sold 1,505 shares of the company’s stock in a transaction on Wednesday, January 1st. The shares were 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 owns 2,534 shares of the company’s stock, valued at approximately $268,249.24. This trade represents a 37.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,239 shares of company stock valued at $4,374,199. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Palomar

Several institutional investors have recently modified their holdings of the company. Dakota Wealth Management lifted its holdings in shares of Palomar by 3.1% in the fourth quarter. Dakota Wealth Management now owns 3,070 shares of the company’s stock valued at $324,000 after buying an additional 92 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Palomar by 0.7% during the fourth quarter. State of Alaska Department of Revenue now owns 15,042 shares of the company’s stock valued at $1,588,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Palomar by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company’s stock valued at $1,352,000 after purchasing an additional 100 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Palomar by 48.6% during the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after purchasing an additional 125 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Palomar by 20.2% during the third quarter. Covestor Ltd now owns 1,076 shares of the company’s stock valued at $102,000 after purchasing an additional 181 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Palomar Trading Down 0.7 %

PLMR stock opened at $109.92 on Monday. The firm has a market cap of $2.91 billion, a P/E 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. The stock’s 50 day simple moving average is $106.91 and its 200 day simple moving average is $99.90.

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.