Zacks Research Analysts Boost Earnings Estimates for Palomar

Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) - Investment analysts at Zacks Research increased their FY2026 earnings estimates for shares of Palomar in a note issued to investors on Tuesday, December 24th. Zacks Research analyst S. Sarkar now forecasts that the company will post earnings per share of $6.64 for the year, up from their previous estimate of $6.55. The consensus estimate for Palomar's current full-year earnings is $4.33 per share.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.20. Palomar had a net margin of 21.55% and a return on equity of 19.65%. The business had revenue of $148.50 million for the quarter, compared to analysts' expectations of $134.72 million. During the same period in the prior year, the company posted $0.80 EPS.

Several other equities analysts have also recently issued reports on the company. Keefe, Bruyette & Woods lifted their price objective on Palomar from $120.00 to $136.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. Jefferies Financial Group lifted their price target on Palomar from $110.00 to $113.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Piper Sandler boosted their price objective on shares of Palomar from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Palomar from $93.00 to $100.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $111.67.

Palomar Price Performance

Palomar stock traded down $0.79 during mid-day trading on Friday, reaching $104.39. The company had a trading volume of 96,014 shares, compared to its average volume of 162,817. The stock's 50-day simple moving average is $102.66 and its 200-day simple moving average is $95.06. The company has a market capitalization of $2.76 billion, a P/E ratio of 24.80 and a beta of 0.36. Palomar has a 1 year low of $54.50 and a 1 year high of $112.90.

Insider Buying and Selling at Palomar

In related news, CEO Mac Armstrong sold 7,000 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $96.28, for a total transaction of $673,960.00. Following the completion of the sale, the chief executive officer now owns 433,388 shares of the company's stock, valued at approximately $41,726,596.64. This represents a 1.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO T Christopher Uchida sold 1,030 shares of Palomar stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $97.65, for a total transaction of $100,579.50. Following the transaction, the chief financial officer now directly owns 17,543 shares in the company, valued at approximately $1,713,073.95. This trade represents a 5.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,356 shares of company stock worth $2,855,805 in the last 90 days. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Palomar

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in shares of Palomar by 9.5% during the third quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company's stock valued at $12,133,000 after purchasing an additional 11,140 shares during the period. Hohimer Wealth Management LLC purchased a new stake in Palomar during the 3rd quarter worth $224,000. Geode Capital Management LLC increased its stake in Palomar by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 600,092 shares of the company's stock worth $56,822,000 after buying an additional 18,335 shares during the period. Barclays PLC lifted its holdings in Palomar by 112.6% in the 3rd quarter. Barclays PLC now owns 71,803 shares of the company's stock worth $6,798,000 after buying an additional 38,027 shares in the last quarter. Finally, Soros Fund Management LLC purchased a new position in Palomar in the 3rd quarter valued at about $9,467,000. Institutional investors and hedge funds own 90.25% of the company's stock.

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.