Life Insurance

Palomar Holdings appoints new chief people officer and COO

Keefe, Bruyette & Woods maintained an outperform rating on Palomar Holdings, raising the stock’s price target to $96 from $93, following an increase in the company’s 2024 operating income guidance. Piper Sandler raised its price target to $99, citing favorable reinsurance costs and a successful reinsurance program completion, leading to increased earnings guidance. Truist Securities adjusted its outlook, increasing the shares target to $100, based on expectations of robust growth and solid returns. Evercore ISI raised its price target to $89, reflecting a positive perspective on the company’s June 1 renewals, which led to an increase in Palomar’s full-year adjusted net income guidance by approximately $10 million.

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