Evercore ISI Reaffirms Their Buy Rating on Palomar Holdings (PLMR)

In a report released today, David Motemaden from Evercore ISI maintained a Buy rating on Palomar Holdings (PLMRResearch Report), with a price target of $58.00. The company’s shares closed last Monday at $56.62, close to its 52-week high of $60.21.

According to TipRanks.com, Motemaden is a 2-star analyst with an average return of 7.0% and a 50.0% success rate. Motemaden covers the Financial sector, focusing on stocks such as Travelers Companies, Sun Life Financial, and Allstate.

Palomar Holdings has an analyst consensus of Strong Buy, with a price target consensus of $59.00, representing a 1.0% upside. In a report released today, JMP Securities also maintained a Buy rating on the stock with a $60.00 price target.

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The company has a one-year high of $60.21 and a one-year low of $18.06. Currently, Palomar Holdings has an average volume of 299.7K.

Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PLMR in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Palomar Holdings, Inc. is an insurance holding company. It is mainly focused on the residential and commercial earthquake markets in earthquake-exposed states such as California, Oregon, Washington, and states with exposure to the New Madrid Seismic Zone. The firm offers property and casualty insurance.