Zacks Research Has Positive View of Palomar FY2027 Earnings

Palomar Holdings, Inc. (NASDAQ:PLMR) – Zacks Research increased their FY2027 earnings per share estimates for Palomar in a research note issued on Friday, April 17th. Zacks Research analyst Team now expects that the company will post earnings per share of $10.39 for the year, up from their prior forecast of $10.26. Zacks Research has a “Strong-Buy” rating on the stock. The consensus estimate for Palomar’s current full-year earnings is $8.97 per share. Zacks Research also issued estimates for Palomar’s Q4 2027 earnings at $2.28 EPS and FY2028 earnings at $11.31 EPS.

PLMR has been the subject of several other research reports. Evercore assumed coverage on Palomar in a research report on Monday, February 9th. They set an “outperform” rating and a $150.00 price objective for the company. Weiss Ratings lowered Palomar from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, April 7th. Wall Street Zen lowered Palomar from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. JPMorgan Chase & Co. raised their price objective on Palomar from $155.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on Palomar from $183.00 to $186.00 and gave the company an “outperform” rating in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $161.75.

Palomar Trading Down 0.1%

Shares of Palomar stock opened at $132.41 on Monday. The firm has a market capitalization of $3.51 billion, a P/E ratio of 18.44 and a beta of 0.54. The business has a fifty day simple moving average of $124.19 and a two-hundred day simple moving average of $124.22. Palomar has a 12 month low of $107.75 and a 12 month high of $175.85.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.18. The company had revenue of $253.36 million during the quarter, compared to analyst estimates of $204.58 million. Palomar had a return on equity of 22.77% and a net margin of 22.50%.The firm’s revenue was up 62.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.52 earnings per share.

Insider Buying and Selling at Palomar

In other news, President Jon Christianson sold 3,000 shares of the firm’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $125.00, for a total transaction of $375,000.00. Following the completion of the transaction, the president directly owned 62,919 shares in the company, valued at $7,864,875. This trade represents a 4.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mac Armstrong sold 11,484 shares of the firm’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $119.88, for a total value of $1,376,701.92. Following the transaction, the chief executive officer owned 91,737 shares of the company’s stock, valued at $10,997,431.56. The trade was a 11.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 66,632 shares of company stock valued at $8,177,085 over the last 90 days. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Palomar

Several institutional investors and hedge funds have recently modified their holdings of PLMR. Royal Bank of Canada increased its holdings in shares of Palomar by 49.1% during the first quarter. Royal Bank of Canada now owns 2,956 shares of the company’s stock valued at $406,000 after acquiring an additional 974 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Palomar by 5.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,427 shares of the company’s stock valued at $2,115,000 after acquiring an additional 791 shares in the last quarter. NewEdge Advisors LLC bought a new stake in Palomar in the 1st quarter worth about $66,000. United Services Automobile Association bought a new stake in Palomar in the 1st quarter worth about $223,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Palomar by 11.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,661 shares of the company’s stock worth $9,960,000 after buying an additional 7,754 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors.

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.