Palomar (NASDAQ:PLMR) Upgraded at Zacks Research

Zacks Research upgraded shares of Palomar (NASDAQ:PLMR) from a hold rating to a strong-buy rating in a research report report published 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.

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

Palomar Stock Performance

Shares of NASDAQ:PLMR opened at $132.55 on Thursday. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 18.46 and a beta of 0.54. Palomar has a 1-year low of $107.75 and a 1-year high of $175.85. The company’s fifty day moving average is $124.08 and its two-hundred day moving average is $123.97.

Palomar (NASDAQ:PLMR) last issued its earnings results on Wednesday, February 11th. The company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.18. The company had revenue of $253.36 million for the quarter, compared to analysts’ expectations of $204.58 million. Palomar had a net margin of 22.50% and a return on equity of 22.77%. The firm’s revenue was up 62.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.52 earnings per share. Sell-side analysts expect that Palomar will post 5.99 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Mac Armstrong sold 3,197 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $129.46, for a total value of $413,883.62. Following the sale, the chief executive officer owned 102,059 shares of the company’s stock, valued at $13,212,558.14. This trade represents a 3.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jonathan Knutzen sold 281 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $128.04, for a total transaction of $35,979.24. Following the completion of the sale, the insider directly owned 27,579 shares in the company, valued at approximately $3,531,215.16. This trade represents a 1.01% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 66,632 shares of company stock worth $8,177,085. 3.70% of the stock is owned by company insiders.

Hedge Funds 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 position in Palomar by 49.1% in the 1st quarter. Royal Bank of Canada now owns 2,956 shares of the company’s stock valued at $406,000 after buying an additional 974 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 purchasing an additional 791 shares in the last quarter. NewEdge Advisors LLC bought a new stake in Palomar during the first quarter worth approximately $66,000. United Services Automobile Association bought a new stake in Palomar during the first quarter worth approximately $223,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Palomar by 11.9% during the first 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 purchasing an additional 7,754 shares in the last quarter. Institutional investors own 90.25% of the company’s stock.

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.