Palomar Holdings, Inc. (NASDAQ:PLMR) Forecasted to Post Q1 2025 Earnings of $1.29 Per Share

Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) - Equities researchers at Zacks Research lowered their Q1 2025 earnings estimates for shares of Palomar in a report issued on Tuesday, October 8th. Zacks Research analyst S. Sarkar now forecasts that the company will earn $1.29 per share for the quarter, down from their prior forecast of $1.30. The consensus estimate for Palomar's current full-year earnings is $4.37 per share. Zacks Research also issued estimates for Palomar's Q4 2025 earnings at $1.32 EPS and FY2025 earnings at $5.21 EPS.

A number of other equities research analysts have also weighed in on PLMR. JPMorgan Chase & Co. raised their price objective on shares of Palomar from $88.00 to $91.00 and gave the company a "neutral" rating in a report on Thursday, July 11th. Truist Financial raised their price objective on shares of Palomar from $100.00 to $112.00 and gave the company a "buy" rating in a report on Thursday, August 8th. Jefferies Financial Group increased their target price on shares of Palomar from $110.00 to $113.00 and gave the company a "buy" rating in a research report on Wednesday. Piper Sandler increased their target price on shares of Palomar from $99.00 to $105.00 and gave the company an "overweight" rating in a research report on Wednesday, August 7th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Palomar from $96.00 to $113.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $105.50.

Palomar Price Performance

Shares of PLMR traded up $3.78 during midday trading on Friday, reaching $96.17. The stock had a trading volume of 136,455 shares, compared to its average volume of 165,898. Palomar has a 1-year low of $48.08 and a 1-year high of $103.40. The company's fifty day simple moving average is $95.13 and its two-hundred day simple moving average is $87.24. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 25.37 and a beta of 0.33.

Palomar (NASDAQ:PLMR - Get Free Report) last released its earnings results on Monday, August 5th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.09 by $0.16. Palomar had a net margin of 21.63% and a return on equity of 20.83%. The company had revenue of $123.08 million for the quarter, compared to analyst estimates of $338.74 million. During the same period in the prior year, the business earned $0.72 EPS. The firm's quarterly revenue was up 47.0% on a year-over-year basis.

Hedge Funds Weigh In On Palomar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Artemis Investment Management LLP purchased a new stake in shares of Palomar during the first quarter worth about $20,904,000. Victory Capital Management Inc. grew its holdings in shares of Palomar by 1,634.6% during the second quarter. Victory Capital Management Inc. now owns 177,678 shares of the company's stock worth $14,419,000 after buying an additional 167,435 shares in the last quarter. F M Investments LLC purchased a new stake in shares of Palomar during the second quarter worth about $11,946,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Palomar by 214.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 165,685 shares of the company's stock worth $13,445,000 after buying an additional 112,996 shares in the last quarter. Finally, Atlas Capital Advisors LLC grew its holdings in Palomar by 167.7% in the second quarter. Atlas Capital Advisors LLC now owns 137,284 shares of the company's stock valued at $11,141,000 after purchasing an additional 86,000 shares during the period. Institutional investors and hedge funds own 90.25% of the company's stock.

Insider Activity at Palomar

In other Palomar news, CFO T Christopher Uchida sold 1,000 shares of Palomar stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $91.30, for a total transaction of $91,300.00. Following the completion of the transaction, the chief financial officer now owns 24,094 shares in the company, valued at approximately $2,199,782.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Palomar news, CFO T Christopher Uchida sold 1,000 shares of Palomar stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $91.30, for a total transaction of $91,300.00. Following the completion of the transaction, the chief financial officer now owns 24,094 shares in the company, valued at approximately $2,199,782.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mac Armstrong sold 12,773 shares of Palomar stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $88.19, for a total transaction of $1,126,450.87. Following the transaction, the chief executive officer now owns 59,309 shares of the company's stock, valued at approximately $5,230,460.71. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,305 shares of company stock worth $4,856,333 over the last 90 days. Company insiders own 4.30% 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.