William Blair Issues Optimistic Outlook for Palomar Earnings

Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) - Research analysts at William Blair lifted their Q2 2025 earnings estimates for Palomar in a note issued to investors on Wednesday, June 4th. William Blair analyst A. Klauber now expects that the company will post earnings per share of $1.63 for the quarter, up from their previous estimate of $1.54. The consensus estimate for Palomar's current full-year earnings is $5.99 per share. William Blair also issued estimates for Palomar's FY2025 earnings at $6.69 EPS.

Palomar (NASDAQ:PLMR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.61 by $0.26. The business had revenue of $174.63 million for the quarter, compared to analysts' expectations of $161.97 million. Palomar had a net margin of 21.23% and a return on equity of 19.76%. During the same quarter in the previous year, the company earned $1.09 EPS.

A number of other research firms have also weighed in on PLMR. JMP Securities reissued a "market perform" rating on shares of Palomar in a research report on Thursday, February 13th. Truist Financial raised their target price on shares of Palomar from $150.00 to $178.00 and gave the company a "buy" rating in a research report on Tuesday, April 15th. Jefferies Financial Group lifted their price objective on shares of Palomar from $145.00 to $168.00 and gave the company a "buy" rating in a report on Friday, April 11th. Evercore ISI lifted their price objective on shares of Palomar from $163.00 to $168.00 and gave the company an "in-line" rating in a report on Friday, May 30th. Finally, Piper Sandler lifted their price objective on shares of Palomar from $171.00 to $177.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $164.33.

Palomar Price Performance

Shares of NASDAQ PLMR traded down $3.73 during mid-day trading on Friday, hitting $162.27. 542,009 shares of the company's stock traded hands, compared to its average volume of 205,844. The company's 50-day moving average is $153.67 and its two-hundred day moving average is $128.59. The company has a market capitalization of $4.34 billion, a P/E ratio of 36.22 and a beta of 0.50. Palomar has a 1 year low of $77.28 and a 1 year high of $175.85.

Institutional Trading of Palomar

Several hedge funds have recently made changes to their positions in the company. Rhumbline Advisers grew its stake in shares of Palomar by 1.2% in the 1st quarter. Rhumbline Advisers now owns 69,865 shares of the company's stock valued at $9,577,000 after buying an additional 816 shares during the period. Strs Ohio purchased a new position in shares of Palomar during the 1st quarter worth approximately $1,124,000. Intech Investment Management LLC boosted its position in shares of Palomar by 6.9% during the 1st quarter. Intech Investment Management LLC now owns 20,323 shares of the company's stock worth $2,786,000 after purchasing an additional 1,317 shares during the period. Jane Street Group LLC purchased a new position in shares of Palomar during the 1st quarter worth approximately $4,723,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Palomar by 11.9% during 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 worth $9,960,000 after purchasing an additional 7,754 shares during the period. Hedge funds and other institutional investors own 90.25% of the company's stock.

Insider Activity

In other news, CFO T Christopher Uchida sold 500 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $153.04, for a total transaction of $76,520.00. Following the sale, the chief financial officer now directly owns 7,672 shares of the company's stock, valued at $1,174,122.88. This represents a 6.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mac Armstrong sold 5,000 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $129.72, for a total transaction of $648,600.00. Following the completion of the sale, the chief executive officer now owns 402,388 shares of the company's stock, valued at approximately $52,197,771.36. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,202 shares of company stock valued at $3,265,129 over the last ninety days. 3.70% of the stock is currently owned by insiders.

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.