Palomar (NASDAQ: PLMR) saw its price target reduced by Barclays from $ 110.00 to $ 93.00 in a research note issued to investors on Thursday, Target equity advisor reports. The company currently has an “overweight” rating on the stock. BarclaysThe price target for s indicates a potential rise of 61.71% from the previous close of the share.
A number of other research companies have also recently published reports on PLMR. JPMorgan Chase & Co. reduced its price target on Palomar shares from $ 95.00 to $ 87.00 and set an “overweight” rating for the company in a research report Thursday. They noted that the move was an appraisal call. JMP Securities upgraded Palomar shares from a “market performance” rating to an “outperformance” rating and set a price target of $ 85.00 for the company in a research report released on Wednesday, December 15th. . Finally, Zacks investment research downgraded Palomar shares from a “sell” rating to a “conservation” rating and set a price target of $ 70.00 for the company in a research report released on Tuesday, December 7. Two analysts rated the stock with a conservation rating and three gave the stock a buy rating. According to MarketBeat, the company currently has an average “Buy” rating and a consensus target price of $ 82.60.
NASDAQ: PLMR traded at $ 0.90 at midday Thursday, reaching $ 57.51. The stock had a trade volume of 122 shares, compared to its average volume of 124,260. The company has a market cap of $ 1.46 billion, a price-to-earnings ratio of 55.59, and a beta of – 0.06. Palomar has a twelve month low of $ 58.05 and a twelve month high of $ 115.40. The company has a 50-day simple moving average of $ 75.40 and a 200-day simple moving average of $ 79.55.
Palomar (NASDAQ: PLMR) last reported its quarterly results on Wednesday, November 3. The company reported EPS of $ 0.07 for the quarter, missing Zacks’ consensus estimate of $ 0.20 ($ 0.13). The company posted revenue of $ 67.97 million in the quarter, compared to analysts’ estimates of $ 64.71 million. Palomar had a net margin of 12.62% and a return on equity of 8.82%. In the same quarter of the previous year, the company made EPS ($ 0.62). On average, equity research analysts predict Palomar will post earnings per share of 1.98 for the current year.
In other news, CEO Mac Armstrong sold 12,000 shares of the company in a transaction that took place on Monday, October 18. The shares were sold at an average price of $ 79.05, for a total trade of $ 948,600.00. The sale was disclosed in a legal file with the Securities & Exchange Commission, accessible via the SEC website. Also, the President Heath a fisher sold 7,500 Palomar shares in a transaction that took place on Wednesday, October 20. The stock was sold for an average price of $ 80.76, for a total trade of $ 605,700.00. Disclosure of this sale can be found here. In the past three months, insiders have sold 40,000 shares of the company valued at $ 3,052,990. Company insiders own 6.40% of the company’s shares.
Hedge funds have recently increased or reduced their stakes in the company. Northern Trust Corp increased its stake in Palomar by 12.6% in the second quarter. Northern Trust Corp now owns 281,391 shares of the company valued at $ 21,233,000 after acquiring an additional 31,392 shares during the period. FMR LLC increased its stake in Palomar shares by 893.6% in the 2nd quarter. FMR LLC now owns 425,527 shares of the company valued at $ 32,110,000 after purchasing an additional 382,702 shares during the last quarter. Brookfield Asset Management Inc. acquired a new position in Palomar shares in the second quarter valued at $ 996,000. LPL Financial LLC increased its stake in Palomar shares by 76.3% in the 2nd quarter. LPL Financial LLC now owns 7,683 shares of the company valued at $ 580,000 after purchasing an additional 3,324 shares in the last quarter. Finally, Man Group plc increased its stake in Palomar shares by 38.0% in the second quarter. Man Group plc now owns 58,725 shares of the company valued at $ 4,431,000 after purchasing an additional 16,174 shares in the last quarter. 89.54% of the shares are held by hedge funds and other institutional investors.
Palomar Company Profile
Palomar Holdings, Inc. operates as an insurance holding company. The company focuses on the residential and commercial earthquake markets in earthquake-prone states such as California, Oregon, Washington, and states prone to the New Madrid Seismic Zone. It offers damage insurance.
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