Zacks Research Has Bullish Estimate for Palomar Q1 Earnings

Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) - Zacks Research lifted their Q1 2025 earnings estimates for Palomar in a note issued to investors on Wednesday, February 26th. Zacks Research analyst S. Sarkar now forecasts that the company will post earnings per share of $1.40 for the quarter, up from their prior estimate of $1.29. The consensus estimate for Palomar's current full-year earnings is $5.99 per share. Zacks Research also issued estimates for Palomar's Q2 2025 earnings at $1.41 EPS, Q3 2025 earnings at $1.47 EPS, Q4 2025 earnings at $1.85 EPS, FY2025 earnings at $6.15 EPS, Q1 2026 earnings at $1.45 EPS, Q2 2026 earnings at $1.46 EPS, Q3 2026 earnings at $1.93 EPS, Q4 2026 earnings at $2.41 EPS, FY2026 earnings at $7.26 EPS and FY2027 earnings at $8.59 EPS.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%.

A number of other research firms have also weighed in on PLMR. Keefe, Bruyette & Woods lifted their price objective on shares of Palomar from $136.00 to $152.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. JMP Securities reiterated a "market perform" rating on shares of Palomar in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised their target price on Palomar from $93.00 to $100.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Piper Sandler raised their target price on Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Finally, Truist Financial raised their target price on Palomar from $112.00 to $150.00 and gave the company a "buy" rating in a report on Friday, February 14th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $127.33.

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Palomar Stock Down 2.8 %

NASDAQ:PLMR traded down $3.55 during midday trading on Monday, reaching $125.34. The stock had a trading volume of 173,208 shares, compared to its average volume of 159,999. The firm has a fifty day simple moving average of $112.57 and a two-hundred day simple moving average of $104.16. Palomar has a 12-month low of $71.54 and a 12-month high of $136.90. The stock has a market cap of $3.34 billion, a P/E ratio of 27.98 and a beta of 0.33.

Insider Transactions at Palomar

In other news, insider Angela L. Grant sold 1,505 shares of Palomar stock in a transaction on Wednesday, January 1st. The stock was sold at an average price of $105.86, for a total transaction of $159,319.30. Following the completion of the transaction, the insider now owns 2,534 shares of the company's stock, valued at $268,249.24. The trade was a 37.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO T Christopher Uchida sold 552 shares of Palomar stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $123.26, for a total value of $68,039.52. Following the transaction, the chief financial officer now directly owns 15,683 shares of the company's stock, valued at $1,933,086.58. This trade represents a 3.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,485 shares of company stock valued at $4,098,195 in the last 90 days. 4.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp raised its stake in shares of Palomar by 3.0% during the 3rd quarter. State Street Corp now owns 1,097,702 shares of the company's stock worth $103,919,000 after buying an additional 32,151 shares during the last quarter. Geode Capital Management LLC increased its position 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 purchasing an additional 18,335 shares in the last quarter. JPMorgan Chase & Co. increased its position in Palomar by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company's stock worth $12,133,000 after purchasing an additional 11,140 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Palomar by 58.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 32,837 shares of the company's stock worth $3,109,000 after purchasing an additional 12,147 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new stake in Palomar during the 3rd quarter worth about $1,711,000. 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.