Zacks Research Estimates Palomar's Q3 Earnings (NASDAQ:PLMR)

Key Points

• Zacks Research lowered its Q3 2027 EPS estimate for Palomar to $2.79 from $2.91 and kept a Hold rating on the stock.
• Palomar’s most recent quarterly results beat profit expectations, with EPS of $2.31 versus $2.17 expected, while revenue rose 59.7% year over year to $278.94 million.
• Wall Street remains moderately positive overall: the stock has a consensus “Moderate Buy” rating with a $147.75 target price, though several firms have recently trimmed their price targets.

Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) - Equities research analysts at Zacks Research decreased their Q3 2027 earnings per share estimates for shares of Palomar in a note issued to investors on Monday, June 29th. Zacks Research analyst Team now expects that the company will earn $2.79 per share for the quarter, down from their prior estimate of $2.91. Zacks Research currently has a "Hold" rating on the stock. The consensus estimate for Palomar's current full-year earnings is $8.93 per share. Zacks Research also issued estimates for Palomar's FY2027 earnings at $9.72 EPS.

Palomar (NASDAQ:PLMR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.17 by $0.14. The firm had revenue of $278.94 million for the quarter, compared to the consensus estimate of $557.79 million. Palomar had a return on equity of 22.62% and a net margin of 20.11%.The company's revenue for the quarter was up 59.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.87 earnings per share.

A number of other research firms have also recently weighed in on PLMR. Weiss Ratings raised shares of Palomar from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, June 18th. Keefe, Bruyette & Woods reduced their price objective on shares of Palomar from $186.00 to $159.00 and set an "outperform" rating for the company in a research note on Wednesday, May 13th. Piper Sandler decreased their price objective on shares of Palomar from $151.00 to $132.00 and set an "overweight" rating on the stock in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Palomar from $160.00 to $150.00 and set an "overweight" rating on the stock in a report on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $147.75.

Palomar Price Performance

Palomar stock opened at $126.39 on Wednesday. Palomar has a one year low of $100.81 and a one year high of $156.55. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.49 and a current ratio of 0.49. The business has a fifty day moving average of $115.23 and a two-hundred day moving average of $122.56. The company has a market cap of $3.35 billion, a P/E ratio of 17.60 and a beta of 0.44.

Institutional Investors Weigh In On Palomar

A number of large investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. acquired a new position in Palomar during the fourth quarter worth about $32,000. Kestra Advisory Services LLC acquired a new stake in shares of Palomar in the fourth quarter valued at approximately $33,000. Rockefeller Capital Management L.P. increased its stake in shares of Palomar by 81.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 294 shares of the company's stock worth $40,000 after purchasing an additional 132 shares in the last quarter. Clearstead Advisors LLC increased its stake in shares of Palomar by 31.0% during the 3rd quarter. Clearstead Advisors LLC now owns 397 shares of the company's stock worth $46,000 after purchasing an additional 94 shares in the last quarter. Finally, Frazier Financial Advisors LLC purchased a new position in shares of Palomar during the 4th quarter worth approximately $54,000. 90.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Palomar news, President Jon Christianson sold 1,937 shares of the company's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $128.62, for a total value of $249,136.94. Following the sale, the president owned 65,919 shares of the company's stock, valued at approximately $8,478,501.78. This represents a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mac Armstrong sold 3,500 shares of the company's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $112.96, for a total value of $395,360.00. Following the completion of the sale, the chief executive officer directly owned 329,388 shares in the company, valued at $37,207,668.48. This trade represents a 1.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 19,114 shares of company stock worth $2,351,100. 3.70% of the stock is owned by corporate insiders.

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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