Piper Sandler Issues Positive Forecast for Palomar (NASDAQ:PLMR) Stock Price

Palomar (NASDAQ:PLMR) had its target price boosted by Piper Sandler from $165.00 to $174.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts also recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Palomar from $167.00 to $156.00 and set an “overweight” rating for the company in a research report on Friday, October 9th. Evercore set a $152.00 target price on shares of Palomar in a report on Friday, July 10th. Zacks Research cut shares of Palomar from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 29th. Truist Financial raised their target price on shares of Palomar from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods lifted their price target on Palomar from $166.00 to $167.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $164.80.

Palomar Stock Up 0.0%

Shares of Palomar stock traded up $0.04 on Friday, reaching $155.71. 537,618 shares of the company were exchanged, compared to its average volume of 237,723. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of 19.49 and a beta of 0.28. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.30. Palomar has a one year low of $100.81 and a one year high of $162.08. The company has a 50-day moving average of $134.99 and a 200 day moving average of $126.88.

Palomar (NASDAQ:PLMR) last released its earnings results on Wednesday, November 4th. The company reported $3.01 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.45. The business had revenue of $386.59 million during the quarter, compared to analysts’ expectations of $754.28 million. Palomar had a net margin of 18.61% and a return on equity of 23.28%. During the same period last year, the business earned $2.01 earnings per share. On average, equities research analysts forecast that Palomar will post 9.27 earnings per share for the current year.

Palomar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Tuesday, November 17th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, November 17th. Palomar’s payout ratio is 22.53%.

Insider Activity at Palomar

In other news, CEO Mac Armstrong sold 3,500 shares of the stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $138.31, for a total value of $484,085.00. Following the transaction, the chief executive officer directly owned 315,388 shares of the company’s stock, valued at $43,621,314.28. This represents a 1.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Jon Christianson sold 528 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $127.75, for a total transaction of $67,452.00. Following the sale, the president owned 66,970 shares of the company’s stock, valued at approximately $8,555,417.50. This represents a 0.78% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 12,115 shares of company stock valued at $1,619,923 in the last ninety days. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PLMR. Diversified Trust Co increased its holdings in shares of Palomar by 14.0% during the third quarter. Diversified Trust Co now owns 9,502 shares of the company’s stock worth $1,172,000 after purchasing an additional 1,170 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Palomar by 600.7% in the third quarter. Russell Investments Group Ltd. now owns 59,247 shares of the company’s stock valued at $7,305,000 after buying an additional 50,791 shares during the period. King Luther Capital Management Corp grew its position in Palomar by 3.6% during the third quarter. King Luther Capital Management Corp now owns 62,954 shares of the company’s stock worth $7,762,000 after buying an additional 2,191 shares in the last quarter. Maryland State Retirement & Pension System grew its position in Palomar by 51.3% during the third quarter. Maryland State Retirement & Pension System now owns 5,860 shares of the company’s stock worth $722,000 after buying an additional 1,986 shares in the last quarter. Finally, Lisanti Capital Growth LLC acquired a new stake in Palomar during the third quarter worth approximately $4,019,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

Key Palomar News

Here are the key news stories impacting Palomar this week:

• Positive Sentiment: Palomar reported adjusted Q3 earnings of $3.01 per share, above analysts’ $2.56 consensus and up from $2.01 a year earlier. Strong premium growth and investment income helped lift results, and the company raised its 2026 earnings guidance. Article: PLMR Q3 Earnings Beat Estimates on Strong Premium Growth
• Positive Sentiment: Analysts raised their targets after the results: Piper Sandler moved its target to $174 and kept an Overweight rating, while Truist raised its target to $175 and maintained a Buy rating. Higher targets may support investor confidence in the growth outlook. Article: Truist Adjusts Price Target on Palomar
• Neutral Sentiment: Palomar also has a quarterly dividend of $0.45 per share scheduled for Dec. 2, with a Nov. 17 record date. The payout offers income to shareholders but is a less direct catalyst than earnings and guidance. Article: Palomar Holdings Company Information

About Palomar

Palomar Holdings, Inc is a specialty insurance company that provides property and casualty insurance products in markets that may be underserved by traditional insurers. The company focuses on risks that are complex, difficult to place or exposed to natural catastrophes, using specialized underwriting and risk-management capabilities.

Its offerings include residential and commercial earthquake insurance, inland marine coverage, specialty property insurance, casualty products, workers’ compensation and other tailored insurance solutions.