Piper Sandler Issues Positive Forecast for Palomar (NASDAQ:PLMR) Stock Price

Key Points

• Piper Sandler raised its Palomar price target from $165 to $174 and maintained an “overweight” rating, implying 11.77% upside from the prior close.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $164.80.
• Palomar reported third-quarter EPS of $3.01, beating the $2.56 consensus and rising from $2.01 a year earlier; shares were reported up 8.1%.

Palomar (NASDAQ:PLMR - Get Free Report) had its target price boosted by investment analysts at Piper Sandler from $165.00 to $174.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's price target suggests a potential upside of 11.77% from the company's previous close.

A number of other brokerages have also weighed in on PLMR. Evercore set a $152.00 price objective on Palomar in a research report on Friday, July 10th. Keefe, Bruyette & Woods boosted their target price on Palomar from $166.00 to $167.00 and gave the stock an "outperform" rating in a research report on Monday, August 10th. JPMorgan Chase & Co. dropped their price target on Palomar from $167.00 to $156.00 and set an "overweight" rating for the company in a research note on Friday, October 9th. Truist Financial set a $175.00 price target on Palomar in a report on Thursday. Finally, Zacks Research downgraded Palomar from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 29th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $164.80.

Palomar Trading Up 8.1%

PLMR stock opened at $155.67 on Friday. Palomar has a 1-year low of $100.81 and a 1-year high of $162.08. 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 market capitalization of $4.10 billion, a price-to-earnings ratio of 19.48 and a beta of 0.28. The business has a 50 day simple moving average of $134.47 and a two-hundred day simple moving average of $126.76.

Palomar (NASDAQ:PLMR - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The company reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.45. The firm had revenue of $386.59 million for the quarter, compared to analysts' expectations of $754.28 million. Palomar had a net margin of 17.60% and a return on equity of 25.42%. During the same quarter last year, the business posted $2.01 earnings per share. Research analysts anticipate that Palomar will post 9.27 EPS for the current fiscal year.

Insider Buying and Selling

In other Palomar news, CFO T. Christopher Uchida sold 791 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $127.74, for a total transaction of $101,042.34. Following the sale, the chief financial officer directly owned 16,238 shares of the company's stock, valued at $2,074,242.12. The trade was a 4.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jonathan Knutzen sold 296 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $127.75, for a total value of $37,814.00. Following the completion of the sale, the insider directly owned 28,250 shares of the company's stock, valued at $3,608,937.50. The trade was a 1.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 12,115 shares of company stock valued at $1,619,923. Insiders own 3.70% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PLMR. BlackRock Inc. bought a new stake in shares of Palomar in the 2nd quarter valued at about $556,348,000. Jupiter Topco LLC bought a new stake in Palomar during the 2nd quarter valued at $132,166,000. Janus Henderson Group PLC raised its position in shares of Palomar by 17.4% in the 1st quarter. Janus Henderson Group PLC now owns 933,993 shares of the company's stock worth $111,664,000 after acquiring an additional 138,368 shares in the last quarter. Freestone Grove Partners LP bought a new position in shares of Palomar in the 2nd quarter worth $78,657,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Palomar by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 653,026 shares of the company's stock worth $78,037,000 after purchasing an additional 23,579 shares during the last quarter. Institutional investors own 90.25% of the company's stock.

Key Palomar News

Here are the key news stories impacting Palomar this week:

• Positive Sentiment: Palomar reported third-quarter adjusted EPS of $3.01, up from $2.01 a year earlier and above analysts’ $2.56 consensus. Net income also rose to $65.3 million from $51.5 million. The earnings beat and year-over-year growth support the positive view of the quarter. Palomar Q3 2026 results
• Positive Sentiment: Truist raised its price target to $175 from $168 and maintained a Buy rating, signaling continued analyst confidence in PLMR’s prospects. Truist price target update
• Neutral Sentiment: Palomar declared a quarterly dividend of $0.45 per share, payable December 2 to shareholders of record November 17. The dividend adds income for shareholders but is a modest yield-based catalyst. Palomar dividend information

Palomar Company Profile

Palomar Holdings, Inc is a specialty insurance company that provides property and casualty insurance products in markets that may be underserved by traditional insurers. The company focuses on risks that are complex, difficult to place or exposed to natural catastrophes, using specialized underwriting and risk-management capabilities.

Its offerings include residential and commercial earthquake insurance, inland marine coverage, specialty property insurance, casualty products, workers' compensation and other tailored insurance solutions.

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