DOWLING & PARTN Brokers Lift Earnings Estimates for Palomar

Palomar Holdings, Inc. (NASDAQ:PLMR) – Stock analysts at DOWLING & PARTN boosted their FY2027 earnings estimates for Palomar in a research report issued on Friday, August 14th. DOWLING & PARTN analyst N. Iacoviello now forecasts that the company will post earnings of $10.32 per share for the year, up from their prior forecast of $9.82. The consensus estimate for Palomar’s current full-year earnings is $9.06 per share.

A number of other brokerages also recently commented on PLMR. Keefe, Bruyette & Woods lifted their target price on Palomar from $166.00 to $167.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Zacks Research cut Palomar from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Piper Sandler boosted their price objective on Palomar from $132.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. upped their price objective on Palomar from $150.00 to $167.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Finally, Weiss Ratings raised Palomar from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 18th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $162.75.

Palomar Price Performance

Shares of NASDAQ:PLMR opened at $123.92 on Tuesday. The company has a market cap of $3.26 billion, a PE ratio of 16.66 and a beta of 0.40. Palomar has a fifty-two week low of $100.81 and a fifty-two week high of $147.62. The firm has a 50-day simple moving average of $129.49 and a 200 day simple moving average of $123.74. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.30.

Palomar (NASDAQ:PLMR) last issued its 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. Palomar had a net margin of 18.61% and a return on equity of 23.28%. The company had revenue of $314.42 million for the quarter, compared to analysts’ expectations of $621.52 million. During the same period in the prior year, the company earned $1.76 earnings per share.

Institutional Investors Weigh In On Palomar

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

Insider Transactions at Palomar

In other Palomar news, insider Timothy Carter sold 480 shares of the company’s stock in a transaction that occurred on Sunday, June 28th. The stock was sold at an average price of $124.29, for a total value of $59,659.20. Following the completion of the sale, the insider directly owned 1,670 shares in the company, valued at $207,564.30. This represents a 22.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mac Armstrong sold 3,500 shares of Palomar stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $137.26, for a total value of $480,410.00. Following the transaction, the chief executive officer owned 325,888 shares in the company, valued at approximately $44,731,386.88. This trade represents a 1.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 22,050 shares of company stock valued at $2,875,050. 3.70% of the stock is currently owned by company insiders.

Palomar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $1.80 annualized dividend and a yield of 1.5%. Palomar’s payout ratio is presently 24.19%.

About Palomar

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.