Palomar (PLMR) Scheduled to Post Earnings on Monday

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

Palomar (NASDAQ:PLMR) last issued its earnings results on Monday, August 5th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.16. Palomar had a return on equity of 20.83% and a net margin of 21.63%. The business had revenue of $123.08 million for the quarter, compared to analysts’ expectations of $338.74 million. During the same period in the previous year, the firm posted $0.72 EPS. The business’s revenue for the quarter 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

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 market cap of $2.21 billion, a PE ratio of 23.32 and a beta of 0.33. The stock has a 50 day moving average price of $95.65 and a 200 day moving average price of $88.82.

Insider Activity at Palomar

In related news, Director Thomas A. Bradley acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average price of $89.42 per share, with a total value of $89,420.00. Following the completion of the acquisition, the director now owns 4,724 shares in the company, valued at approximately $422,420.08. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Palomar news, President Jon Christianson sold 3,805 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $103.04, for a total transaction of $392,067.20. Following the sale, the president now directly owns 51,926 shares of the company’s stock, valued at $5,350,455.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas A. Bradley bought 1,000 shares of the stock in a transaction on Friday, August 9th. The stock was purchased at an average cost of $89.42 per share, with a total value of $89,420.00. Following the completion of the purchase, the director now directly owns 4,724 shares in the company, valued at $422,420.08. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 37,520 shares of company stock worth $3,626,486 over the last 90 days. Company insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. 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 report on Wednesday, October 9th. Truist Financial boosted their target price on Palomar from $100.00 to $112.00 and gave the stock 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 stock an “overweight” rating in a research note on Wednesday, August 7th. Keefe, Bruyette & Woods raised their price objective on shares of Palomar from $96.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Finally, Evercore ISI raised their price target on Palomar from $90.00 to $99.00 and gave the stock an “in-line” rating in a research note on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Palomar has an average rating of “Moderate Buy” and an average price target of $105.50.

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.