Palomar Holdings, Inc. (NASDAQ:PLMR) Director Thomas A. Bradley Buys 1,000 Shares

Palomar Holdings, Inc. (NASDAQ:PLMR) Director Thomas A. Bradley acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was purchased at an average price of $84.32 per share, for a total transaction of $84,320.00. Following the acquisition, the director now directly owns 2,500 shares in the company, valued at approximately $210,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Palomar Stock Performance

PLMR opened at $84.76 on Thursday. The stock has a market capitalization of $2.11 billion, a P/E ratio of 24.36 and a beta of 0.24. Palomar Holdings, Inc. has a one year low of $46.09 and a one year high of $86.25. The business’s 50-day simple moving average is $79.43 and its 200-day simple moving average is $66.89.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.28. Palomar had a net margin of 21.78% and a return on equity of 19.94%. The firm had revenue of $108.39 million during the quarter, compared to analysts’ expectations of $322.10 million. During the same quarter in the prior year, the business earned $0.80 EPS. Palomar’s quarterly revenue was up 29.1% compared to the same quarter last year. On average, equities research analysts forecast that Palomar Holdings, Inc. will post 3.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. downgraded Palomar from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $79.00 to $85.00 in a research report on Monday, April 8th. Jefferies Financial Group upgraded shares of Palomar from a “hold” rating to a “buy” rating and raised their price objective for the company from $78.00 to $88.00 in a report on Thursday, March 14th. Evercore ISI boosted their target price on shares of Palomar from $68.00 to $86.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. JMP Securities restated a “market perform” rating on shares of Palomar in a research note on Monday, April 15th. Finally, Keefe, Bruyette & Woods upped their price objective on Palomar from $88.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.17.

Hedge Funds Weigh In On Palomar

A number of hedge funds and other institutional investors have recently bought and sold shares of PLMR. SG Americas Securities LLC purchased a new stake in shares of Palomar in the third quarter valued at about $346,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Palomar by 17.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,443 shares of the company’s stock worth $378,000 after purchasing an additional 1,116 shares during the period. Victory Capital Management Inc. raised its stake in shares of Palomar by 32.3% during the 3rd quarter. Victory Capital Management Inc. now owns 9,747 shares of the company’s stock worth $495,000 after buying an additional 2,379 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Palomar by 0.9% in the third quarter. Los Angeles Capital Management LLC now owns 27,529 shares of the company’s stock valued at $1,397,000 after buying an additional 256 shares in the last quarter. Finally, Illinois Municipal Retirement Fund acquired a new position in Palomar during the third quarter worth $741,000. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Palomar Company Profile

Palomar Holdings, Inc, a specialty insurance company, provides property and casualty insurance to residential and businesses in the United States. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, fronting, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance.