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

Palomar Holdings, Inc. (NASDAQ:PLMR) – Research analysts at Zacks Research increased their Q2 2027 EPS estimates for Palomar in a report issued on Thursday, October 1st. Zacks Research analyst Team now anticipates that the company will earn $2.30 per share for the quarter, up from their prior estimate of $2.24. Zacks Research currently has a “Strong-Buy” rating on the stock. The consensus estimate for Palomar’s current full-year earnings is $9.31 per share. Zacks Research also issued estimates for Palomar’s Q1 2028 earnings at $2.88 EPS, Q2 2028 earnings at $2.79 EPS and FY2028 earnings at $10.81 EPS.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.19 by $0.17. The company had revenue of $314.42 million for the quarter, compared to the consensus estimate of $621.52 million. Palomar had a net margin of 18.61% and a return on equity of 23.28%. During the same period last year, the company posted $1.76 EPS.

A number of other analysts have also weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of Palomar from $166.00 to $167.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. JPMorgan Chase & Co. upped their target price on Palomar from $150.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Evercore set a $152.00 target price on Palomar in a research report on Friday, July 10th. Weiss Ratings raised Palomar from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 24th. Finally, Piper Sandler boosted their price target on Palomar from $132.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $162.75.

Palomar Price Performance

PLMR stock opened at $125.93 on Friday. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 16.93 and a beta of 0.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.50 and a quick ratio of 0.50. The company has a 50 day simple moving average of $132.42 and a 200 day simple moving average of $125.31. Palomar has a 1 year low of $100.81 and a 1 year high of $147.62.

Hedge Funds Weigh In On Palomar

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC acquired a new stake in Palomar during the 2nd quarter valued at approximately $221,000. Tidal Investments LLC boosted its stake in shares of Palomar by 41.3% in the 2nd quarter. Tidal Investments LLC now owns 16,583 shares of the company’s stock valued at $2,096,000 after purchasing an additional 4,847 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Palomar in the 2nd quarter valued at $146,000. Arcus Capital Partners LLC increased its position in shares of Palomar by 23.1% during the second quarter. Arcus Capital Partners LLC now owns 2,586 shares of the company’s stock worth $327,000 after buying an additional 486 shares during the period. Finally, Arizona State Retirement System increased its position in shares of Palomar by 1.2% during the second quarter. Arizona State Retirement System now owns 7,364 shares of the company’s stock worth $931,000 after buying an additional 84 shares during the period. 90.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Palomar

In other Palomar news, CEO Mac Armstrong sold 3,500 shares of the company’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $134.98, for a total value of $472,430.00. Following the sale, the chief executive officer owned 318,888 shares in the company, valued at approximately $43,043,502.24. The trade was a 1.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Jon Christianson sold 3,000 shares of the stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $139.50, for a total value of $418,500.00. Following the completion of the sale, the president directly owned 66,478 shares of the company’s stock, valued at approximately $9,273,681. The trade was a 4.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 16,322 shares of company stock worth $2,198,116 over the last 90 days. Company insiders own 3.70% of the company’s stock.

Palomar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Wednesday, August 19th. Palomar’s dividend payout ratio is presently 24.19%.

Palomar Company Profile

Palomar Holdings, Inc is a specialty insurance company that provides property and casualty insurance products for risks that may be underserved by standard insurance carriers. The company focuses on markets where specialized underwriting expertise is important, including catastrophe-exposed property and other complex commercial and personal insurance risks.

Its offerings include commercial and residential property coverage, casualty insurance, specialty programs, and other products designed for areas such as earthquake, wind, flood, and other natural catastrophe exposures.