What is Zacks Research's Estimate for Palomar Q4 Earnings?

Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) - Research analysts at Zacks Research reduced their Q4 2024 EPS estimates for shares of Palomar in a report issued on Thursday, November 14th. Zacks Research analyst S. Sarkar now forecasts that the company will earn $1.23 per share for the quarter, down from their prior estimate of $1.26. The consensus estimate for Palomar's current full-year earnings is $4.32 per share. Zacks Research also issued estimates for Palomar's Q2 2025 earnings at $1.30 EPS and Q3 2025 earnings at $1.25 EPS.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Palomar from $93.00 to $100.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Jefferies Financial Group raised their price target on shares of Palomar from $110.00 to $113.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods raised their price target on shares of Palomar from $117.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Evercore ISI raised their price target on shares of Palomar from $90.00 to $99.00 and gave the stock an "in-line" rating in a research report on Tuesday, August 6th. Finally, Truist Financial raised their price target on shares of Palomar from $100.00 to $112.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $109.00.

Palomar Trading Up 5.1 %

NASDAQ:PLMR traded up $5.27 during trading hours on Monday, hitting $108.96. The stock had a trading volume of 169,833 shares, compared to its average volume of 163,473. Palomar has a 1-year low of $54.50 and a 1-year high of $109.00. The business has a 50 day simple moving average of $95.77 and a two-hundred day simple moving average of $90.29. The company has a market cap of $2.88 billion, a PE ratio of 24.76 and a beta of 0.34.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.20. Palomar had a net margin of 21.55% and a return on equity of 19.65%. The company had revenue of $148.50 million during the quarter, compared to the consensus estimate of $134.72 million. During the same quarter last year, the company earned $0.80 earnings per share.

Institutional Investors Weigh In On Palomar

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of Palomar by 3.2% during the third quarter. Geode Capital Management LLC now owns 600,092 shares of the company's stock valued at $56,822,000 after purchasing an additional 18,335 shares in the last quarter. Barclays PLC raised its stake in shares of Palomar by 112.6% during the third quarter. Barclays PLC now owns 71,803 shares of the company's stock valued at $6,798,000 after purchasing an additional 38,027 shares in the last quarter. Soros Fund Management LLC acquired a new position in Palomar during the third quarter worth about $9,467,000. State Street Corp grew its holdings in Palomar by 3.0% during the third quarter. State Street Corp now owns 1,097,702 shares of the company's stock worth $103,919,000 after acquiring an additional 32,151 shares during the period. Finally, Stifel Financial Corp grew its holdings in Palomar by 78.6% during the third quarter. Stifel Financial Corp now owns 15,734 shares of the company's stock worth $1,490,000 after acquiring an additional 6,926 shares during the period. 90.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Palomar

In related news, President Jon Christianson sold 2,195 shares of Palomar stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $104.10, for a total transaction of $228,499.50. Following the sale, the president now directly owns 51,926 shares in the company, valued at $5,405,496.60. The trade was a 4.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO T Christopher Uchida sold 1,111 shares of Palomar stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $104.00, for a total transaction of $115,544.00. Following the sale, the chief financial officer now owns 16,432 shares in the company, valued at approximately $1,708,928. This represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,076 shares of company stock worth $3,806,029. 4.30% of the stock is owned by insiders.

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.