Palomar Holdings, Inc. (NASDAQ:PLMR – Get Rating) – Equities research analysts at Zacks Research lowered their Q4 2024 earnings per share estimates for Palomar in a report released on Thursday, June 8th. Zacks Research analyst T. De now anticipates that the company will earn $1.11 per share for the quarter, down from their prior estimate of $1.12. The consensus estimate for Palomar’s current full-year earnings is $3.29 per share. Zacks Research also issued estimates for Palomar’s Q1 2025 earnings at $1.05 EPS.
Several other equities research analysts have also recently weighed in on PLMR. Keefe, Bruyette & Woods increased their price objective on Palomar from $64.00 to $67.00 in a report on Wednesday, May 31st. JPMorgan Chase & Co. decreased their price objective on shares of Palomar from $75.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, March 31st. Barclays raised their price objective on Palomar from $59.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday, April 5th. Jefferies Financial Group increased their target price on shares of Palomar from $54.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, April 10th. Finally, Evercore ISI lifted their price objective on Palomar from $52.00 to $57.00 and gave the company an “in-line” rating in a report on Thursday, April 13th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.86.
Palomar Stock Down 0.6 %
Palomar (NASDAQ:PLMR – Get Rating) last issued its earnings results on Wednesday, May 3rd. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. Palomar had a net margin of 16.25% and a return on equity of 17.61%. The company had revenue of $83.94 million for the quarter, compared to analysts’ expectations of $88.35 million. During the same period in the prior year, the firm earned $0.68 EPS. Palomar’s quarterly revenue was up 9.3% compared to the same quarter last year.
Institutional Trading of Palomar
Hedge funds have recently made changes to their positions in the stock. UBS Group AG raised its stake in Palomar by 7,440.0% during the third quarter. UBS Group AG now owns 377 shares of the company’s stock valued at $32,000 after purchasing an additional 372 shares in the last quarter. FMR LLC grew its position in shares of Palomar by 89.9% in the first quarter. FMR LLC now owns 864 shares of the company’s stock valued at $48,000 after purchasing an additional 409 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Palomar during the first quarter valued at about $55,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Palomar in the fourth quarter valued at $81,000. Finally, Advisor Group Holdings Inc. raised its stake in Palomar by 34.1% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,470 shares of the company’s stock worth $94,000 after acquiring an additional 374 shares in the last quarter. 90.30% of the stock is owned by institutional investors.
Insider Activity
In other Palomar news, CFO T Christopher Uchida sold 1,000 shares of the stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $55.00, for a total transaction of $55,000.00. Following the completion of the transaction, the chief financial officer now owns 25,108 shares in the company, valued at approximately $1,380,940. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, President Jon Christianson sold 2,008 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $60.09, for a total value of $120,660.72. Following the transaction, the president now owns 80,393 shares in the company, valued at $4,830,815.37. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO T Christopher Uchida sold 1,000 shares of the business’s stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $55.00, for a total transaction of $55,000.00. Following the sale, the chief financial officer now directly owns 25,108 shares of the company’s stock, valued at $1,380,940. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,008 shares of company stock worth $285,661. Corporate insiders own 4.40% of the company’s stock.
Palomar Company Profile
Palomar Holdings, Inc operates as an insurance holding company. The firm focuses on the residential and commercial earthquake markets in earthquake-exposed states such as California, Oregon, Washington and states with exposure to the New Madrid Seismic Zone. It offers property and casualty insurance.
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