Palomar (NASDAQ:PLMR) had its target price lifted by equities researchers at SunTrust Banks to $50.00 in a research note issued to investors on Wednesday, The Fly reports. The brokerage currently has a “positive” rating on the stock. SunTrust Banks’ price objective suggests a potential upside of 10.82% from the company’s current price. SunTrust Banks also issued estimates for Palomar’s Q4 2019 earnings at $0.45 EPS, FY2019 earnings at $1.71 EPS, FY2020 earnings at $1.95 EPS and FY2021 earnings at $2.30 EPS. The analysts noted that the move was a valuation call.
A number of other equities research analysts have also weighed in on PLMR. Zacks Investment Research lowered shares of Palomar from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 16th. Barclays boosted their target price on shares of Palomar from $30.00 to $36.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Evercore ISI reissued a “buy” rating on shares of Palomar in a report on Monday, August 12th. JMP Securities initiated coverage on shares of Palomar in a report on Wednesday, October 16th. They set an “outperform” rating and a $50.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of Palomar from $27.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $43.67.
PLMR traded up $0.28 during trading on Wednesday, reaching $45.12. 110,500 shares of the company’s stock were exchanged, compared to its average volume of 159,305. Palomar has a one year low of $18.06 and a one year high of $46.68. The firm has a fifty day moving average price of $40.89 and a two-hundred day moving average price of $30.21.
In other news, major shareholder Vi Gp Aiv Ltd. Genstar sold 5,153,500 shares of the company’s 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. Also, insider Andrew T. Robinson sold 15,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $36.50, for a total transaction of $547,500.00. Over the last ninety days, insiders sold 6,037,500 shares of company stock worth $211,694,890.
Several large investors have recently bought and sold shares of the company. Strs Ohio acquired a new position in shares of Palomar during the 2nd quarter valued at $36,000. JPMorgan Chase & Co. acquired a new position in shares of Palomar during the 2nd quarter valued at $39,000. Atwood & Palmer Inc. acquired a new position in shares of Palomar during the 3rd quarter valued at $39,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Palomar during the 2nd quarter valued at $201,000. Finally, LPL Financial LLC acquired a new position in shares of Palomar during the 2nd quarter valued at $203,000. 30.34% of the stock is currently owned by institutional investors.
Palomar Company Profile
There is no company description available for Palomar Holdings Inc
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