Palomar (NASDAQ:PLMR) Sets New 12-Month High at $60.21

Palomar Holdings Inc (NASDAQ:PLMR) shares reached a new 52-week high on Tuesday . The stock traded as high as $60.21 and last traded at $56.62, with a volume of 445055 shares trading hands. The stock had previously closed at $57.83.

Several research firms have recently weighed in on PLMR. Keefe, Bruyette & Woods increased their price objective on Palomar from $48.00 to $57.00 and gave the company an “outperform” rating in a research report on Sunday, December 8th. Zacks Investment Research cut Palomar from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. SunTrust Banks increased their price objective on Palomar to $50.00 and gave the company a “positive” rating in a research report on Wednesday, November 6th. They noted that the move was a valuation call. Finally, JMP Securities reissued an “outperform” rating and issued a $55.00 price objective on shares of Palomar in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Palomar has an average rating of “Buy” and an average price target of $48.67.

The business has a 50 day moving average of $52.10 and a 200 day moving average of $44.32.

In related news, CEO Mac Armstrong sold 30,000 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $55.18, for a total value of $1,655,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Vi Gp Aiv Ltd. Genstar sold 4,233,000 shares of the company’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $47.29, for a total value of $200,178,570.00. The disclosure for this sale can be found here. Insiders sold 5,100,000 shares of company stock valued at $241,546,950 over the last 90 days.

Several hedge funds and other institutional investors have recently modified their holdings of PLMR. Stephens Investment Management Group LLC acquired a new position in Palomar during the third quarter worth $21,598,000. BlackRock Inc. acquired a new position in Palomar during the second quarter worth $7,118,000. Emerald Mutual Fund Advisers Trust raised its stake in Palomar by 1,247.4% during the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 284,039 shares of the company’s stock worth $14,341,000 after acquiring an additional 262,959 shares in the last quarter. Emerald Advisers LLC raised its stake in Palomar by 1,059.2% during the fourth quarter. Emerald Advisers LLC now owns 278,405 shares of the company’s stock worth $14,057,000 after acquiring an additional 254,389 shares in the last quarter. Finally, Vanguard Group Inc. acquired a new position in Palomar during the second quarter worth $3,778,000. Institutional investors and hedge funds own 55.36% of the company’s stock.

Palomar Company Profile (NASDAQ:PLMR)

There is no company description available for Palomar Holdings Inc

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