Brokerages Set Palomar Holdings Inc (NASDAQ:PLMR) PT at $39.20

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Palomar Holdings Inc (NASDAQ:PLMR) has received an average rating of “Buy” from the eight analysts that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $41.60.

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods lifted their price objective on Palomar from $28.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. SunTrust Banks lifted their price objective on Palomar to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. JMP Securities assumed coverage on Palomar in a research report on Wednesday. They set an “outperform” rating and a $50.00 price objective on the stock. Evercore ISI reiterated a “buy” rating on shares of Palomar in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. lifted 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.

Shares of NASDAQ PLMR traded up $1.32 during midday trading on Friday, hitting $43.48. The stock had a trading volume of 124,000 shares, compared to its average volume of 153,800. The company’s 50 day simple moving average is $36.92. Palomar has a 1 year low of $18.06 and a 1 year high of $43.80.

Palomar (NASDAQ:PLMR) last released its earnings results on Monday, August 12th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.06. The firm had revenue of $25.41 million during the quarter, compared to analysts’ expectations of $24.25 million. Research analysts forecast that Palomar will post 1.74 EPS for the current fiscal year.

In other news, COO Jon Christianson sold 6,500 shares of Palomar stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $36.50, for a total value of $237,250.00. Also, major shareholder Vi Gp Aiv Ltd. Genstar sold 5,153,500 shares of Palomar stock in a transaction on Monday, September 30th. The shares were sold at an average price of $35.04, for a total value of $180,578,640.00. Insiders sold 6,037,500 shares of company stock valued at $211,694,890 over the last ninety days.

A number of large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD purchased a new position in Palomar in the second quarter valued at $20,738,000. Stephens Investment Management Group LLC purchased a new position in Palomar in the third quarter valued at $21,598,000. Peregrine Capital Management LLC purchased a new position in Palomar in the third quarter valued at $17,826,000. Schroder Investment Management Group purchased a new position in Palomar in the second quarter valued at $10,399,000. Finally, Nuveen Asset Management LLC purchased a new position in Palomar in the second quarter valued at $8,700,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Palomar Company Profile

There is no company description available for Palomar Holdings Inc

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Analyst Recommendations for Palomar (NASDAQ:PLMR)

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