Research Analysts Set Expectations for Palomar Q4 Earnings

Palomar Holdings, Inc. (NASDAQ:PLMR) – Stock analysts at Zacks Research reduced their Q4 2024 earnings estimates for Palomar in a research note issued to investors on Thursday, November 14th. Zacks Research analyst S. Sarkar now expects that the company will earn $1.23 per share for the quarter, down from their prior estimate of $1.26. The consensus estimate for Palomar’s current full-year earnings is $4.32 per share. Zacks Research also issued estimates for Palomar’s Q2 2025 earnings at $1.30 EPS and Q3 2025 earnings at $1.25 EPS.

PLMR has been the topic of several other research reports. Keefe, Bruyette & Woods raised their price target on Palomar from $117.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Jefferies Financial Group upped their price objective on shares of Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Truist Financial lifted their target price on shares of Palomar from $100.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Piper Sandler raised their price objective on shares of Palomar from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $109.00.

Palomar Stock Performance

Shares of PLMR stock opened at $103.69 on Monday. The company has a market capitalization of $2.74 billion, a PE ratio of 24.63 and a beta of 0.34. Palomar has a 52-week low of $54.50 and a 52-week high of $107.00. The business’s fifty day moving average is $95.77 and its 200 day moving average is $90.21.

Palomar (NASDAQ:PLMR) last posted its earnings results on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.20. The business had revenue of $148.50 million for the quarter, compared to analysts’ expectations of $134.72 million. Palomar had a net margin of 21.55% and a return on equity of 19.65%. During the same period in the prior year, the company posted $0.80 EPS.

Insider Buying and Selling at Palomar

In other news, CFO T Christopher Uchida sold 1,750 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $99.00, for a total transaction of $173,250.00. Following the transaction, the chief financial officer now directly owns 20,594 shares of the company’s stock, valued at approximately $2,038,806. This trade represents a 7.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Jon Christianson sold 2,195 shares of Palomar stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $104.10, for a total value of $228,499.50. Following the completion of the transaction, the president now owns 51,926 shares in the company, valued at approximately $5,405,496.60. This represents a 4.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,076 shares of company stock worth $3,806,029 over the last ninety days. Insiders own 4.30% of the company’s stock.

Institutional Trading of Palomar

Several hedge funds and other institutional investors have recently bought and sold shares of PLMR. Janney Montgomery Scott LLC purchased a new position in shares of Palomar in the first quarter worth $602,000. SG Americas Securities LLC purchased a new position in shares of Palomar in the first quarter valued at about $122,000. Sei Investments Co. raised its stake in shares of Palomar by 1.7% during the first quarter. Sei Investments Co. now owns 73,501 shares of the company’s stock valued at $6,162,000 after acquiring an additional 1,240 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Palomar by 7.4% during the first quarter. ProShare Advisors LLC now owns 4,925 shares of the company’s stock valued at $413,000 after acquiring an additional 339 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of Palomar by 23.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 8,641 shares of the company’s stock worth $724,000 after purchasing an additional 1,650 shares during the period. Institutional investors own 90.25% 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.