Zacks Research Has Optimistic Outlook of Palomar Q2 Earnings

Key Points

• Zacks Research raised its Q2 2028 earnings estimate for Palomar to $2.27 per share from $2.24, while keeping a Hold rating on the stock.
• Palomar’s most recent quarterly results beat profit expectations, reporting $2.31 EPS versus $2.17 expected, and revenue rose 59.7% year over year to $278.94 million.
• Analyst sentiment remains generally positive, with a Moderate Buy consensus and an average price target of $147.75, though several firms have recently trimmed their targets.

Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) - Equities research analysts at Zacks Research upped their Q2 2028 earnings estimates for Palomar in a report released on Monday, June 29th. Zacks Research analyst Team now expects that the company will post earnings per share of $2.27 for the quarter, up from their previous estimate of $2.24. Zacks Research has a "Hold" rating on the stock. The consensus estimate for Palomar's current full-year earnings is $8.93 per share.

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

Palomar Stock Performance

Shares of PLMR stock opened at $133.69 on Thursday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.31. The company has a market cap of $3.54 billion, a PE ratio of 18.62 and a beta of 0.41. The company's fifty day simple moving average is $115.25 and its 200-day simple moving average is $122.64. Palomar has a 52 week low of $100.81 and a 52 week high of $150.20.

Palomar (NASDAQ:PLMR - Get Free Report) last announced 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. Palomar had a net margin of 20.11% and a return on equity of 22.62%. The firm had revenue of $278.94 million for the quarter, compared to analysts' expectations of $557.79 million. During the same period in the previous year, the company posted $1.87 earnings per share. Palomar's revenue was up 59.7% compared to the same quarter last year.

Institutional Investors Weigh In On Palomar

Hedge funds and other institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC boosted its stake in shares of Palomar by 250.1% during the 4th quarter. Janus Henderson Group PLC now owns 795,625 shares of the company's stock valued at $107,237,000 after buying an additional 568,360 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Palomar by 290.2% in the second quarter. Alliancebernstein L.P. now owns 497,080 shares of the company's stock valued at $76,675,000 after acquiring an additional 369,697 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Palomar by 72.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 785,165 shares of the company's stock valued at $105,809,000 after acquiring an additional 328,993 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in Palomar by 290.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 308,734 shares of the company's stock valued at $41,605,000 after acquiring an additional 229,681 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in Palomar during the 1st quarter valued at $23,317,000. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, President Jon Christianson sold 3,000 shares of the stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $125.00, for a total value of $375,000.00. Following the completion of the transaction, the president owned 62,919 shares of the company's stock, valued at approximately $7,864,875. This represents a 4.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mac Armstrong sold 3,500 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 329,388 shares of the company's stock, valued at $37,207,668.48. This 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. Insiders have sold 19,114 shares of company stock worth $2,351,100 in the last quarter. 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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