Zacks Research Estimates Palomar’s Q2 Earnings (NASDAQ:PLMR)

Palomar Holdings, Inc. (NASDAQ:PLMR) – Analysts at Zacks Research lifted their Q2 2027 EPS estimates for shares of Palomar in a report issued on Thursday, October 1st. Zacks Research analyst Team now anticipates that the company will post earnings of $2.30 per share for the quarter, up from their previous forecast of $2.24. Zacks Research currently has a “Strong-Buy” rating on the stock. The consensus estimate for Palomar’s current full-year earnings is $9.30 per share. Zacks Research also issued estimates for Palomar’s Q1 2028 earnings at $2.88 EPS, Q2 2028 earnings at $2.79 EPS and FY2028 earnings at $10.81 EPS.

Palomar (NASDAQ:PLMR) last released its quarterly earnings results on Tuesday, August 4th. The company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.17. The company had revenue of $314.42 million during the quarter, compared to analysts’ expectations of $621.52 million. Palomar had a return on equity of 23.28% and a net margin of 18.61%.During the same quarter in the prior year, the firm posted $1.76 EPS.

A number of other research firms have also issued reports on PLMR. Piper Sandler increased their price target on Palomar from $132.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Weiss Ratings upgraded shares of Palomar from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 24th. Keefe, Bruyette & Woods raised their target price on shares of Palomar from $166.00 to $167.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Evercore set a $152.00 price target on shares of Palomar in a research note on Friday, July 10th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Palomar from $150.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat.com, Palomar currently has a consensus rating of “Buy” and an average price target of $162.75.

Palomar Trading Up 0.4%

Shares of PLMR opened at $126.49 on Friday. Palomar has a 52-week low of $100.81 and a 52-week high of $147.62. The firm’s fifty day moving average is $132.20 and its two-hundred day moving average is $125.32. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.30. The stock has a market cap of $3.33 billion, a PE ratio of 17.00 and a beta of 0.35.

Institutional Trading of Palomar

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Palomar in the second quarter valued at $556,348,000. Jupiter Topco LLC acquired a new position in Palomar in the second quarter valued at $132,166,000. Freestone Grove Partners LP purchased a new position in shares of Palomar during the second quarter worth about $78,657,000. Bank of New York Mellon Corp purchased a new position in shares of Palomar during the second quarter worth about $30,966,000. Finally, Empowered Funds LLC acquired a new stake in shares of Palomar during the second quarter worth about $24,691,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Mac Armstrong sold 3,500 shares of the firm’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $134.98, for a total transaction of $472,430.00. Following the sale, the chief executive officer owned 318,888 shares of the company’s stock, valued at approximately $43,043,502.24. This trade represents a 1.09% decrease in their position. The sale was disclosed in a legal filing 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, insider Jonathan Knutzen sold 296 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $127.75, for a total value of $37,814.00. Following the sale, the insider owned 28,250 shares of the company’s stock, valued at approximately $3,608,937.50. The trade was a 1.04% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 16,322 shares of company stock worth $2,198,116. 3.70% of the stock is currently owned by company insiders.

Palomar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were issued a $0.45 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.4%. Palomar’s dividend payout ratio is presently 24.19%.

Key Palomar News

Here are the key news stories impacting Palomar this week:

• Positive Sentiment: Zacks raised its FY2027 EPS estimate to $10.19 from $10.01 and increased quarterly estimates for Q1, Q2 and Q3 2027. The firm also lifted its Q3 2028 estimate to $2.29 from $2.26.
• Positive Sentiment: Zacks increased its FY2028 EPS forecast to $10.81 from $10.74 and raised its Q2 2028 estimate to $2.79 from $2.69. These revisions point to expectations for continued earnings growth beyond the current year.
• Positive Sentiment: The “Strong Buy” upgrade provides an additional bullish catalyst and may attract investor interest, particularly because analysts expect Palomar’s earnings to rise from the current-year consensus of $9.31 per share to $10.19 in FY2027 and $10.81 in FY2028.
• Neutral Sentiment: The estimate changes are from the same research firm rather than broad-based revisions across Wall Street, so the impact may be limited unless other analysts follow with upgrades or higher forecasts.
• Negative Sentiment: Zacks made modest reductions to its FY2026 EPS estimate, to $9.17 from $9.18, and its Q1 2028 estimate, to $2.88 from $2.92. These small cuts partially offset the broader pattern of upward revisions.

Palomar Company Profile

Palomar Holdings, Inc is a specialty insurance company that provides property and casualty insurance products for risks that may be underserved by standard insurance carriers. The company focuses on markets where specialized underwriting expertise is important, including catastrophe-exposed property and other complex commercial and personal insurance risks.

Its offerings include commercial and residential property coverage, casualty insurance, specialty programs, and other products designed for areas such as earthquake, wind, flood, and other natural catastrophe exposures.