Zacks Research Forecasts Palomar’s Q2 Earnings (NASDAQ:PLMR)

Palomar Holdings, Inc. (NASDAQ:PLMR) – Analysts at Zacks Research boosted their Q2 2028 earnings per share (EPS) estimates for Palomar in a report issued on Monday, June 29th. Zacks Research analyst Team now anticipates that the company will post earnings of $2.27 per share for the quarter, up from their previous forecast of $2.24. Zacks Research has a “Hold” rating on the stock. The consensus estimate for Palomar’s current full-year earnings is $8.93 per share.

Palomar (NASDAQ:PLMR) last released its earnings results on Wednesday, May 6th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.14. The company had revenue of $278.94 million for the quarter, compared to the consensus estimate of $557.79 million. Palomar had a return on equity of 22.62% and a net margin of 20.11%.Palomar’s quarterly revenue was up 59.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.87 EPS.

Several other brokerages have also recently issued reports on PLMR. Keefe, Bruyette & Woods reduced their price objective on Palomar from $186.00 to $159.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Piper Sandler lowered their target price on shares of Palomar from $151.00 to $132.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Weiss Ratings raised shares of Palomar from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 18th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Palomar from $160.00 to $150.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Palomar presently has a consensus rating of “Moderate Buy” and an average price target of $147.75.

Palomar Price Performance

Shares of NASDAQ PLMR opened at $133.69 on Thursday. Palomar has a twelve month low of $100.81 and a twelve month high of $150.20. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 18.62 and a beta of 0.41. The business has a 50 day simple moving average of $115.25 and a 200-day simple moving average of $122.64.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PLMR. Summit Global Investments increased its position in Palomar by 1.7% in the fourth quarter. Summit Global Investments now owns 4,646 shares of the company’s stock worth $626,000 after buying an additional 79 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Palomar by 3.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,546 shares of the company’s stock valued at $333,000 after acquiring an additional 82 shares during the period. Quadrant Capital Group LLC grew its position in shares of Palomar by 2.0% during the fourth quarter. Quadrant Capital Group LLC now owns 4,464 shares of the company’s stock worth $602,000 after acquiring an additional 88 shares during the last quarter. California State Teachers Retirement System grew its position in shares of Palomar by 0.4% during the second quarter. California State Teachers Retirement System now owns 24,207 shares of the company’s stock worth $3,734,000 after acquiring an additional 97 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Palomar by 11.7% in the 4th quarter. Covestor Ltd now owns 1,254 shares of the company’s stock worth $169,000 after acquiring an additional 131 shares during the period. 90.25% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Timothy Carter sold 480 shares of the company’s stock in a transaction that occurred on Sunday, June 28th. The stock was sold at an average price of $124.29, for a total transaction of $59,659.20. Following the completion of the transaction, the insider directly owned 1,670 shares of the company’s stock, valued at approximately $207,564.30. This represents a 22.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mac Armstrong sold 3,500 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $112.96, for a total value of $395,360.00. Following the sale, the chief executive officer owned 329,388 shares in the company, valued at $37,207,668.48. The trade was a 1.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 19,114 shares of company stock valued at $2,351,100. 3.70% of the stock is currently owned by insiders.

Palomar Company Profile

Palomar Holdings, Inc (NASDAQ: PLMR) is a specialty insurance holding company focused on providing medical stop-loss coverage and related administrative services to self-funded employer health plans in the United States. The firm operates through two primary business segments—Medical Stop-Loss and Specialty Program Management—to deliver tailored risk protection and comprehensive program administration.

In its Medical Stop-Loss segment, Palomar underwrites excess and aggregate stop-loss policies designed to shield self-insured employers from catastrophic medical claims that exceed pre-determined retention levels.