JMP Securities began coverage on shares of Palomar (NASDAQ:PLMR) in a report issued on Wednesday morning, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $50.00 target price on the stock.
Several other brokerages also recently issued reports on PLMR. Barclays upped their price target on Palomar from $30.00 to $36.00 and gave the stock an equal weight rating in a report on Wednesday, October 2nd. SunTrust Banks boosted their price objective on Palomar to $44.00 and gave the stock a buy rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price objective on Palomar from $27.00 to $40.00 and gave the stock an overweight rating in a research report on Tuesday, August 13th. Evercore ISI reissued a buy rating on shares of Palomar in a research report on Monday, August 12th. Finally, Zacks Investment Research raised Palomar from a hold rating to a buy rating and set a $38.00 price objective on the stock in a research report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $41.00.
Shares of NASDAQ PLMR traded up $0.07 during midday trading on Wednesday, hitting $41.85. 1,979 shares of the stock traded hands, compared to its average volume of 364,138. Palomar has a one year low of $18.06 and a one year high of $42.05. The company’s 50 day moving average is $36.55.
Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Monday, August 12th. The company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.06. The firm had revenue of $25.41 million for the quarter, compared to the consensus estimate of $24.25 million. On average, equities analysts expect that Palomar will post 1.74 EPS for the current year.
In other Palomar news, CEO Mac Armstrong sold 40,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $36.50, for a total value of $1,460,000.00. Also, President Heath A. Fisher sold 35,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $36.50, for a total value of $1,277,500.00. In the last three months, insiders sold 6,037,500 shares of company stock worth $211,694,890.
A number of hedge funds have recently bought and sold shares of PLMR. Price T Rowe Associates Inc. MD purchased a new position in Palomar in the second quarter worth $20,738,000. Peregrine Capital Management LLC purchased a new position in shares of Palomar during the 3rd quarter valued at $17,826,000. Schroder Investment Management Group purchased a new position in shares of Palomar during the 2nd quarter valued at $10,399,000. Nuveen Asset Management LLC purchased a new position in shares of Palomar during the 2nd quarter valued at $8,700,000. Finally, BlackRock Inc. purchased a new stake in Palomar during the 2nd quarter worth about $7,118,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.
There is no company description available for Palomar Holdings Inc
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