Zacks Research Has Positive View of Palomar FY2025 Earnings

Key Points

• Zacks Research has raised its FY2025 EPS estimates for Palomar Holdings to $6.28 per share, slightly up from the previous estimate of $6.27, with current consensus earnings for the year being $5.99.
• Palomar's stock has seen recent adjustments in analyst ratings, with JPMorgan upgrading it to "overweight" and raising its price target significantly to $150, while Wall Street Zen downgraded it to "hold".
• The company reported earnings of $1.87 EPS for its last quarter, exceeding analysts' expectations of $1.61, alongside a revenue of $174.63 million.

Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) - Zacks Research lifted their FY2025 earnings per share estimates for Palomar in a note issued to investors on Wednesday, July 30th. Zacks Research analyst S. Sarkar now anticipates that the company will post earnings per share of $6.28 for the year, up from their prior estimate of $6.27. The consensus estimate for Palomar's current full-year earnings is $5.99 per share. Zacks Research also issued estimates for Palomar's Q1 2026 earnings at $1.65 EPS, FY2026 earnings at $7.43 EPS, Q1 2027 earnings at $2.22 EPS and FY2027 earnings at $8.74 EPS.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.61 by $0.26. Palomar had a return on equity of 20.56% and a net margin of 21.99%. The firm had revenue of $174.63 million for the quarter, compared to analysts' expectations of $161.97 million. During the same quarter last year, the business earned $1.09 earnings per share.

Other equities analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods reduced their target price on Palomar from $205.00 to $204.00 and set an "outperform" rating on the stock in a report on Monday, June 30th. Wall Street Zen cut Palomar from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Truist Financial lifted their price objective on Palomar from $150.00 to $178.00 and gave the company a "buy" rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. upgraded Palomar from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $115.00 to $150.00 in a report on Tuesday, April 8th. Finally, Piper Sandler lifted their price objective on Palomar from $171.00 to $177.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $174.17.

Palomar Stock Performance

PLMR traded down $2.87 during midday trading on Thursday, reaching $129.62. 398,723 shares of the company were exchanged, compared to its average volume of 307,388. Palomar has a one year low of $82.54 and a one year high of $175.85. The stock has a market capitalization of $3.47 billion, a P/E ratio of 25.87 and a beta of 0.44. The stock's 50-day simple moving average is $151.26 and its 200 day simple moving average is $139.01.

Insider Activity

In related news, CEO Mac Armstrong sold 5,000 shares of Palomar stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $161.96, for a total value of $809,800.00. Following the sale, the chief executive officer owned 392,388 shares of the company's stock, valued at approximately $63,551,160.48. This trade represents a 1.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO T Christopher Uchida sold 500 shares of Palomar stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $158.69, for a total value of $79,345.00. Following the completion of the sale, the chief financial officer directly owned 7,420 shares in the company, valued at approximately $1,177,479.80. This represents a 6.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,164 shares of company stock worth $3,061,089 in the last 90 days. Corporate insiders own 3.70% of the company's stock.

Institutional Investors Weigh In On Palomar

A number of hedge funds and other institutional investors have recently bought and sold shares of PLMR. Nisa Investment Advisors LLC raised its position in Palomar by 185.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 311 shares of the company's stock valued at $43,000 after buying an additional 202 shares during the last quarter. Maseco LLP acquired a new stake in Palomar in the 2nd quarter valued at approximately $45,000. Opal Wealth Advisors LLC acquired a new stake in Palomar in the 1st quarter valued at approximately $46,000. TCTC Holdings LLC raised its position in Palomar by 116.5% in the 1st quarter. TCTC Holdings LLC now owns 381 shares of the company's stock valued at $52,000 after buying an additional 205 shares during the last quarter. Finally, IFP Advisors Inc increased its position in shares of Palomar by 556.9% during the 2nd quarter. IFP Advisors Inc now owns 335 shares of the company's stock worth $52,000 after purchasing an additional 284 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

About Palomar

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.