Palomar Holdings, Inc. (PLMR) to Distribute Quarterly Dividend of $0.45 on September 2nd

Palomar Holdings, Inc. (NASDAQ:PLMR) announced a quarterly dividend on Thursday, July 30th. Shareholders of record on Wednesday, August 19th will be paid a dividend of 0.45 per share on Wednesday, September 2nd. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, August 19th.

Palomar Stock Performance

NASDAQ:PLMR opened at $128.21 on Monday. The company has a market cap of $3.37 billion, a P/E ratio of 17.23 and a beta of 0.40. The stock’s fifty day moving average price is $129.14 and its two-hundred day moving average price is $123.73. Palomar has a 1 year low of $100.81 and a 1 year high of $147.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.50 and a quick ratio of 0.50.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $2.36 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the business earned $1.76 earnings per share. As a group, analysts expect that Palomar will post 9.06 EPS for the current year.

Analyst Ratings Changes

PLMR has been the topic of several analyst reports. Zacks Research cut Palomar from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Evercore set a $152.00 price objective on shares of Palomar in a research report on Friday, July 10th. JPMorgan Chase & Co. boosted their price objective on shares of Palomar from $150.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Weiss Ratings raised shares of Palomar from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 18th. Finally, Piper Sandler increased their target price on shares of Palomar from $132.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $162.75.

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.