Jefferies analyst Andrew Andersen maintains $Palomar Holdings (PLMR.US)$ with a buy rating, and adjusts the target price from $99 to $113.
According to TipRanks data, the analyst has a success rate of 88.9% and a total average return of 11.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Palomar Holdings (PLMR.US)$'s main analysts recently are as follows:
The fundamental outlook for the property and casualty sector remains positive looking into the third-quarter reports. Optimistic expectations, positive sentiment, and valuations moderate the perspective on the stocks in question. The sector is characterized by continued robust pricing and a defensive risk profile, which are major advantages. However, the expectations for margins at underwriters and sales growth at brokers appear to be on the optimistic side.
The third-quarter outcomes, especially for reinsurers, might be influenced by the recent Hurricane Milton. The focus remains positive on companies specializing in personal insurance due to bettering margins and growth in the number of policies. For the third quarter, there is an anticipation of catastrophe losses to be below the five-year seasonal average, yet considerably higher than those of the third quarter of the previous year. This could imply potential challenges for primary insurers.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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