Zacks Research Has Bullish Forecast for Palomar Q2 Earnings

Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) - Research analysts at Zacks Research raised their Q2 2025 earnings per share (EPS) estimates for shares of Palomar in a report issued on Monday, May 19th. Zacks Research analyst S. Sarkar now expects that the company will earn $1.42 per share for the quarter, up from their previous forecast of $1.41. The consensus estimate for Palomar's current full-year earnings is $5.99 per share. Zacks Research also issued estimates for Palomar's FY2025 earnings at $6.26 EPS, FY2026 earnings at $7.37 EPS, Q1 2027 earnings at $2.16 EPS and FY2027 earnings at $8.64 EPS.

Several other research firms also recently commented on PLMR. JPMorgan Chase & Co. raised shares of Palomar from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $115.00 to $150.00 in a report on Tuesday, April 8th. Keefe, Bruyette & Woods lowered their price target on shares of Palomar from $155.00 to $145.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Jefferies Financial Group increased their price objective on shares of Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. JMP Securities reaffirmed a "market perform" rating on shares of Palomar in a research report on Thursday, February 13th. Finally, Truist Financial raised their target price on shares of Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $148.33.

Palomar Stock Up 1.1%

PLMR stock traded up $1.74 during trading on Wednesday, reaching $162.56. The company's stock had a trading volume of 211,195 shares, compared to its average volume of 200,421. Palomar has a 1 year low of $77.28 and a 1 year high of $165.00. The company has a market capitalization of $4.35 billion, a P/E ratio of 36.29 and a beta of 0.51. The company's fifty day moving average is $146.26 and its 200-day moving average is $123.24.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its quarterly 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 19.76% and a net margin of 21.23%. The business had revenue of $174.63 million during the quarter, compared to analyst estimates of $161.97 million. During the same quarter in the prior year, the business posted $1.09 EPS.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Intech Investment Management LLC raised its position in shares of Palomar by 6.9% in the first quarter. Intech Investment Management LLC now owns 20,323 shares of the company's stock worth $2,786,000 after acquiring an additional 1,317 shares during the period. Jane Street Group LLC purchased a new stake in shares of Palomar during the first quarter worth about $4,723,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Palomar by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,661 shares of the company's stock worth $9,960,000 after purchasing an additional 7,754 shares in the last quarter. Axiom Investors LLC DE purchased a new stake in shares of Palomar during the first quarter worth about $3,251,000. Finally, United Services Automobile Association purchased a new stake in shares of Palomar during the first quarter worth about $223,000. Institutional investors and hedge funds own 90.25% of the company's stock.

Insider Activity at Palomar

In other Palomar news, CFO T Christopher Uchida sold 500 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $159.77, for a total value of $79,885.00. Following the completion of the transaction, the chief financial officer now owns 7,920 shares in the company, valued at approximately $1,265,378.40. This represents a 5.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mac Armstrong sold 5,000 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $161.96, for a total transaction of $809,800.00. Following the completion of the transaction, the chief executive officer now owns 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 disclosure for this sale can be found here. Insiders sold 22,202 shares of company stock worth $3,265,129 over the last three months. Company insiders own 3.70% 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.