Palomar Holdings Inc (NASDAQ:PLMR) has been assigned an average recommendation of “Buy” from the eight research firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $44.80.
Several equities analysts have recently weighed in on the stock. JMP Securities assumed coverage on shares of Palomar in a report on Wednesday, October 16th. They set an “outperform” rating and a $50.00 target price for the company. Evercore ISI reissued a “buy” rating on shares of Palomar in a report on Monday, August 12th. JPMorgan Chase & Co. increased their price target on shares of Palomar from $27.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Barclays raised their price target on shares of Palomar from $30.00 to $36.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, SunTrust Banks lifted their price objective on shares of Palomar to $50.00 and gave the company a “positive” rating in a report on Wednesday, November 6th. They noted that the move was a valuation call.
Shares of NASDAQ:PLMR opened at $52.97 on Friday. Palomar has a 12-month low of $18.06 and a 12-month high of $55.67. The business has a 50 day moving average of $46.22 and a two-hundred day moving average of $33.61.
In other news, major shareholder Vi Gp Aiv Ltd. Genstar sold 787,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $35.04, for a total transaction of $27,594,000.00. Also, President Heath A. Fisher sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $36.50, for a total value of $1,277,500.00. Insiders have sold 6,037,500 shares of company stock worth $211,694,890 in the last quarter.
Institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new stake in Palomar in the 2nd quarter worth $36,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Palomar during the second quarter worth about $201,000. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Palomar during the second quarter worth about $2,449,000. One Tusk Investment Partners LP acquired a new position in shares of Palomar during the 2nd quarter worth about $2,404,000. Finally, Axiom International Investors LLC DE acquired a new position in shares of Palomar during the 2nd quarter worth about $1,419,000. 54.61% of the stock is currently owned by hedge funds and other institutional investors.
Palomar Company Profile
There is no company description available for Palomar Holdings Inc
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