Palomar (NASDAQ:PLMR – Rating Received) was upgraded from a “neutral” rating to an “overweight” rating by research analysts at Piper Sandler in a research report published Wednesday, reports The Fly.
Separately, TheStreet upgraded shares of Palomar from a “c” rating to a “b-” rating in a research note on Monday, April 18. Five research analysts have given the stock a buy rating. Based on data from MarketBeat, the stock has a consensus rating of Buy and an average target price of $82.40.
NASDAQ:PLMR opened at $56.78 on Wednesday. The company’s 50-day moving average is $59.23 and its 200-day moving average is $59.11. Palomar has a 52-week low of $44.01 and a 52-week high of $97.18. The company has a market cap of $1.43 billion, a P/E of 33.80 and a beta of 0.19.
Palomar (NASDAQ:PLMR – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $0.68 per share for the quarter, beating analysts’ consensus estimate of $0.62 by $0.06. The company had revenue of $79.39 million for the quarter, compared to analyst estimates of $76.89 million. Palomar had a net margin of 15.82% and a return on equity of 13.53%. In the same period last year, the company posted $0.73 per share. As a group, equities analysts expect Palomar to post 2.97 year-to-date EPS.
In other Palomar news, CFO T Christopher Uchida sold 500 shares of the company’s shares in a transaction on Wednesday, April 20. The shares were sold at an average price of $59.17 for a total transaction of $29,585.00. Following the transaction, the Chief Financial Officer now owns 25,925 shares of the Company, valued at $1,533,982.25. The transaction was disclosed in a filing with the SEC, which can be accessed at this link. Company insiders own 4.40% of the company’s shares.
Several hedge funds have recently changed their positions in PLMR. Signaturefd LLC increased its stake in Palomar shares by 133.6% during the first quarter. Signaturefd LLC now owns 528 shares of the company’s stock valued at $34,000 after purchasing an additional 302 shares last quarter. Point72 Hong Kong Ltd acquired a new interest in Palomar stock valued at approximately $50,000 during the fourth quarter. Lazard Asset Management LLC acquired a new interest in Palomar stock valued at approximately $55,000 during the first quarter. Advisor Group Holdings Inc. increased its position in Palomar by 172.0% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,096 shares of the company’s stock valued at $71,000 after purchasing an additional 693 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in Palomar by 21.0% in the first quarter. Nisa Investment Advisors LLC now owns 1,270 shares of the company, valued at $81,000, having purchased an additional 220 shares during the period. Institutional investors own 89.41% of the company’s shares.
Palomar company profile (get rating)
Palomar Holdings, Inc, an insurance holding company, provides specialty property insurance to personal and commercial customers. The Company offers personal and commercial specialty property insurance products including Residential and Commercial Earthquake, Commercial All-Risk, Specialty Homeowners, Inland Shipping, Hawaiian Hurricanes and Residential Floods, as well as other products such as Reinsurance, Commercial Flood and Real Estate Errors and Omissions, and products for real estate investor.
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