Palomar (NASDAQ:PLMR) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Palomar (NASDAQ:PLMR) from a hold rating to a strong-buy rating in a research report released on Thursday,Zacks.com reports. Zacks Research also issued estimates for Palomar’s Q1 2026 earnings at $2.00 EPS, Q2 2026 earnings at $2.01 EPS, Q3 2026 earnings at $2.58 EPS, Q4 2026 earnings at $2.40 EPS, FY2026 earnings at $8.99 EPS, Q1 2027 earnings at $2.50 EPS and Q3 2027 earnings at $3.24 EPS.

Several other research firms have also recently weighed in on PLMR. Weiss Ratings cut shares of Palomar from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, April 7th. Evercore started coverage on shares of Palomar in a research report on Monday, February 9th. They set an “outperform” rating and a $150.00 price target on the stock. JPMorgan Chase & Co. increased their price target on Palomar from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Wall Street Zen downgraded Palomar from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. Finally, Keefe, Bruyette & Woods boosted their price objective on Palomar from $183.00 to $186.00 and gave the company an “outperform” rating in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Palomar has an average rating of “Buy” and a consensus target price of $161.75.

Palomar Trading Up 0.9%

Shares of PLMR opened at $132.55 on Thursday. The stock’s 50-day moving average price is $124.08 and its two-hundred day moving average price is $123.92. Palomar has a 12 month low of $107.75 and a 12 month high of $175.85. The company has a market capitalization of $3.51 billion, a PE ratio of 18.46 and a beta of 0.54.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $2.24 earnings per share (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 the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company earned $1.52 earnings per share. Equities research analysts predict that Palomar will post 5.99 EPS for the current fiscal year.

Insider Buying and Selling at Palomar

In other news, President Jon Christianson sold 3,000 shares of the stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $125.00, for a total transaction of $375,000.00. Following the transaction, the president owned 62,919 shares of the company’s stock, valued at $7,864,875. This represents a 4.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 dated 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 completion of the sale, the chief executive officer owned 91,737 shares of the company’s stock, valued at approximately $10,997,431.56. This represents a 11.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 66,632 shares of company stock worth $8,177,085. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Palomar

A number of institutional investors have recently modified their holdings of PLMR. Diversified Trust Co grew its position in Palomar by 15.0% in the 1st quarter. Diversified Trust Co now owns 8,887 shares of the company’s stock valued at $1,062,000 after purchasing an additional 1,156 shares during the period. Rockefeller Capital Management L.P. raised its holdings in Palomar by 81.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 294 shares of the company’s stock worth $40,000 after buying an additional 132 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Palomar during the fourth quarter worth $215,000. Summit Global Investments lifted its stake in shares of Palomar by 1.7% in the fourth quarter. Summit Global Investments now owns 4,646 shares of the company’s stock valued at $626,000 after buying an additional 79 shares in the last quarter. Finally, Caitlin John LLC grew its holdings in shares of Palomar by 23,887.5% during the fourth quarter. Caitlin John LLC now owns 1,919 shares of the company’s stock valued at $259,000 after buying an additional 1,911 shares during the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

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.