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

Palomar Holdings, Inc. (NASDAQ:PLMR) Director Thomas A. Bradley purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was acquired at an average price of $84.32 per share, with a total value of $84,320.00. Following the purchase, the director now owns 2,500 shares in the company, valued at $210,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Palomar Price Performance

Shares of NASDAQ PLMR opened at $84.07 on Friday. The company has a market capitalization of $2.10 billion, a P/E ratio of 24.16 and a beta of 0.24. The company has a 50 day simple moving average of $79.59 and a 200-day simple moving average of $67.01. Palomar Holdings, Inc. has a 1 year low of $46.09 and a 1 year high of $86.25.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Los Angeles Capital Management LLC lifted its holdings in shares of Palomar by 0.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 27,529 shares of the company’s stock worth $1,397,000 after acquiring an additional 256 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in Palomar by 26.0% during the third quarter. Westfield Capital Management Co. LP now owns 433,346 shares of the company’s stock worth $21,992,000 after purchasing an additional 89,410 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Palomar by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 195,862 shares of the company’s stock worth $9,940,000 after buying an additional 6,903 shares during the period. Handelsbanken Fonder AB grew its stake in shares of Palomar by 72.9% in the fourth quarter. Handelsbanken Fonder AB now owns 7,280 shares of the company’s stock valued at $404,000 after buying an additional 3,070 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Palomar by 11.2% in the 3rd quarter. Barclays PLC now owns 15,059 shares of the company’s stock valued at $764,000 after buying an additional 1,514 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PLMR shares. JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a research note on Monday, April 15th. Truist Financial raised their price target on shares of Palomar from $88.00 to $97.00 and gave the stock a “buy” rating in a research note on Monday. JPMorgan Chase & Co. downgraded shares of Palomar from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $79.00 to $85.00 in a report on Monday, April 8th. Piper Sandler boosted their target price on Palomar from $89.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Jefferies Financial Group raised Palomar from a “hold” rating to a “buy” rating and increased their price target for the company from $78.00 to $88.00 in a report on Thursday, March 14th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Palomar presently has an average rating of “Moderate Buy” and an average price target of $89.17.

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.