William Blair Analysts Lift Earnings Estimates for Palomar

Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) - Stock analysts at William Blair lifted their Q2 2025 EPS estimates for Palomar in a report released on Wednesday, June 4th. William Blair analyst A. Klauber now forecasts 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 released its quarterly earnings results on Monday, May 5th. The company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.26. Palomar had a net margin of 21.23% and a return on equity of 19.76%. The business had revenue of $174.63 million for the quarter, compared to the consensus estimate of $161.97 million. During the same period last year, the firm earned $1.09 earnings per share.

Other research analysts also recently issued reports about the stock. Jefferies Financial Group increased their price target 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. Keefe, Bruyette & Woods reduced their price objective on shares of Palomar from $155.00 to $145.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Piper Sandler increased their price objective on shares of Palomar from $171.00 to $177.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Truist Financial increased their price objective on shares of Palomar from $150.00 to $178.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. Finally, JMP Securities reissued a "market perform" rating on shares of Palomar in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $164.33.

Palomar Stock Down 1.4%

PLMR traded down $2.37 during trading on Friday, hitting $166.00. The company's stock had a trading volume of 387,449 shares, compared to its average volume of 204,835. Palomar has a one year low of $77.28 and a one year high of $175.85. The firm has a market cap of $4.44 billion, a PE ratio of 37.05 and a beta of 0.51. The business's 50 day simple moving average is $153.67 and its 200-day simple moving average is $128.31.

Hedge Funds Weigh In On Palomar

Several institutional investors have recently bought and sold shares of PLMR. Blue Trust Inc. purchased a new position in Palomar during the fourth quarter valued at $26,000. Smartleaf Asset Management LLC grew its stake in shares of Palomar by 536.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 414 shares of the company's stock worth $43,000 after buying an additional 349 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Palomar by 185.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 311 shares of the company's stock worth $43,000 after buying an additional 202 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Palomar in the 1st quarter worth $46,000. Finally, Jones Financial Companies Lllp grew its stake in shares of Palomar by 63.2% in the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company's stock worth $52,000 after buying an additional 191 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palomar

In related news, CFO T Christopher Uchida sold 1,000 shares of the firm's stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $144.00, for a total transaction of $144,000.00. Following the completion of the transaction, the chief financial officer now directly owns 9,172 shares of the company's stock, valued at approximately $1,320,768. This trade represents a 9.83% decrease in their ownership of the stock. The transaction 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 firm's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $161.96, for a total transaction of $809,800.00. Following the transaction, the chief executive officer now directly owns 392,388 shares of the company's stock, valued at $63,551,160.48. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,202 shares of company stock valued at $3,265,129. Corporate 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.