Palomar (PLMR) Set to Announce Quarterly Earnings on Monday

Palomar (NASDAQ:PLMR) is scheduled to issue its quarterly earnings data after the market closes on Monday, November 4th. Analysts expect the company to announce earnings of $0.96 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings data on Monday, August 5th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.16. Palomar had a return on equity of 20.83% and a net margin of 21.63%. The company had revenue of $123.08 million during the quarter, compared to the consensus estimate of $338.74 million. During the same quarter in the prior year, the firm earned $0.72 EPS. The company’s quarterly revenue was up 47.0% compared to the same quarter last year. On average, analysts expect Palomar to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Palomar Stock Performance

Shares of NASDAQ:PLMR opened at $88.38 on Friday. Palomar has a one year low of $54.50 and a one year high of $103.40. The stock has a fifty day moving average of $95.65 and a 200-day moving average of $88.91. The company has a market capitalization of $2.21 billion, a PE ratio of 23.32 and a beta of 0.34.

Analysts Set New Price Targets

Several brokerages have issued reports on PLMR. Jefferies Financial Group boosted their target price on shares of Palomar from $110.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Truist Financial boosted their target price on shares of Palomar from $100.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Piper Sandler boosted their target price on shares of Palomar from $99.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of Palomar from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Palomar from $96.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $105.50.

Insider Transactions at Palomar

In other news, CEO Mac Armstrong sold 7,000 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $96.28, for a total value of $673,960.00. Following the transaction, the chief executive officer now directly owns 433,388 shares of the company’s stock, valued at approximately $41,726,596.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Mac Armstrong sold 7,000 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $96.28, for a total value of $673,960.00. Following the transaction, the chief executive officer now directly owns 433,388 shares of the company’s stock, valued at approximately $41,726,596.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Jon Christianson sold 10,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $94.40, for a total transaction of $944,000.00. Following the completion of the transaction, the president now directly owns 51,926 shares in the company, valued at $4,901,814.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,520 shares of company stock valued at $3,626,486. 4.30% of the stock is owned by insiders.

About Palomar

Palomar Holdings, Inc, a specialty insurance company, provides property and casualty insurance to residential and businesses in the United States. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, fronting, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance.