FY2027 EPS Estimates for Palomar Raised by DOWLING & PARTN

Key Points

• DOWLING & PARTN raised Palomar’s FY2027 EPS estimate to $10.32 from $9.82, above the current consensus estimate of $9.06.
• Palomar’s latest quarterly results exceeded expectations, with EPS of $2.36 versus the $2.19 consensus; analysts maintain a “Moderate Buy” consensus and an average price target of $162.75.
• The company declared a quarterly dividend of $0.45 per share, equivalent to $1.80 annually and a 1.5% yield, payable September 2 to shareholders of record on August 19.

Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) - Research analysts at DOWLING & PARTN lifted their FY2027 earnings per share (EPS) estimates for Palomar in a report released on Friday, August 14th. DOWLING & PARTN analyst N. Iacoviello now expects that the company will post earnings of $10.32 per share for the year, up from their prior estimate of $9.82. The consensus estimate for Palomar's current full-year earnings is $9.06 per share.

Palomar (NASDAQ:PLMR - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.19 by $0.17. Palomar had a net margin of 18.61% and a return on equity of 23.28%. The business had revenue of $314.42 million for the quarter, compared to analyst estimates of $621.52 million. During the same period in the previous year, the firm earned $1.76 EPS.

PLMR has been the topic of several other reports. Piper Sandler increased their target price on Palomar from $132.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. upped their price objective on Palomar from $150.00 to $167.00 and gave the stock an "overweight" rating in a report on Monday, July 20th. Weiss Ratings raised Palomar from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, June 18th. Zacks Research lowered shares of Palomar from a "strong-buy" rating to a "hold" rating in a report on Friday, May 15th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Palomar from $166.00 to $167.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Palomar currently has a consensus rating of "Moderate Buy" and a consensus target price of $162.75.

Palomar Price Performance

Palomar stock opened at $123.92 on Tuesday. 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 stock has a market capitalization of $3.26 billion, a P/E ratio of 16.66 and a beta of 0.40. The firm's 50-day moving average is $129.49 and its two-hundred day moving average is $123.74. Palomar has a 12-month low of $100.81 and a 12-month high of $147.62.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada boosted its stake in shares of Palomar by 49.1% during the 1st quarter. Royal Bank of Canada now owns 2,956 shares of the company's stock valued at $406,000 after buying an additional 974 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Palomar by 5.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,427 shares of the company's stock worth $2,115,000 after acquiring an additional 791 shares in the last quarter. NewEdge Advisors LLC bought a new stake in shares of Palomar in the 1st quarter worth about $66,000. United Services Automobile Association acquired a new stake in shares of Palomar in the 1st quarter valued at about $223,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Palomar by 11.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,661 shares of the company's stock valued at $9,960,000 after purchasing an additional 7,754 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company's stock.

Insider Activity

In other Palomar news, COO Rodolphe Herve sold 1,207 shares of the business's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $135.35, for a total value of $163,367.45. Following the transaction, the chief operating officer owned 3,548 shares in the company, valued at $480,221.80. The trade was a 25.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 company's stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $137.26, for a total transaction of $480,410.00. Following the completion of the transaction, the chief executive officer directly owned 325,888 shares of the company's stock, valued at approximately $44,731,386.88. The trade was a 1.06% 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 quarter, insiders sold 22,050 shares of company stock worth $2,875,050. Corporate insiders own 3.70% of the company's stock.

Palomar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Palomar's dividend payout ratio (DPR) is presently 24.19%.

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.

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