Palomar Holdings Inc Stock Research

Market Summary

USD47.28-0.54

Market Closed

-1.13%

PLMR Stock Price

PLMR RSI Chart

PLMR Valuation

Market Cap

1.2B

Price/Earnings (Trailing)

21.46

Price/Sales (Trailing)

3.49

EV/EBITDA

14.27

Price/Free Cashflow

8.49

PLMR Price/Sales (Trailing)

PLMR Profitability

EBT Margin

20.65%

Return on Equity

13.56%

Return on Assets

3.99%

Free Cashflow Yield

11.78%

PLMR Fundamentals

PLMR Revenue

Revenue (TTM)

338.2M

Revenue Y/Y

14.2%

Revenue Q/Q

0.65%

PLMR Earnings

Earnings (TTM)

54.9M

Earnings Y/Y

19.1%

Earnings Q/Q

-7.71%

Price Action

52 Week Range

43.6495.20

(Low)(High)

Last 7 days

-8.2%

Last 30 days

-5.9%

Last 90 days

-22.1%

Trailing 12 Months

-26.3%

PLMR Financial Health

PLMR Investor Care

Buy Backs (1Y)

1.15%

Diluted EPS (TTM)

2.15

Peers (Alternatives to Palomar Holdings)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
PGR	80.9B	52.1B	-6.11%	6.42%	112.13	1.63	6.08%	-60.84%
TRV	40.0B	37.8B	-4.33%	-0.47%	14.3	1.06	6.99%	-29.09%
AIG	39.6B	51.6B	3.17%	-5.02%	3.86	0.7	-3.37%	-38.13%
ALL	29.1B	52.9B	-4.41%	-17.00%	-12.17	0.55	4.73%	-167.90%
RE	24.6B	12.4B	-7.03%	24.77%	41.2	1.98	3.58%	-56.71%
HIG	23.3B	22.9B	-3.10%	-4.87%	11.93	1.05	1.76%	-25.56%
Y	11.4B	-	0.57%	29.95%	32.11	0.97	-	-
AFG	9.8B	7.2B	-6.27%	-11.90%	11.95	1.36	8.46%	-56.06%
MID-CAP
RNR	8.4B	6.5B	-10.73%	23.57%	-82.23	1.29	18.12%	27.70%
ESGR	3.9B	1.6B	1.39%	4.74%	-21.82	2.39	-	-308.14%
SMALL-CAP
HMN	1.4B	1.4B	0.35%	-22.92%	-529.92	1	2.59%	-108.90%
PLMR	1.2B	338.2M	-5.93%	-26.34%	21.46	3.49	22.24%	25.58%
PRA	990.7M	1.1B	-31.51%	-45.33%	-2.5K	0.9	-7.68%	-102.27%
JRVR	748.6M	847.3M	2.21%	-24.16%	24.65	0.88	7.01%	151.37%

Financials for Palomar Holdings

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	3.4%	338	327	312	299	277
EBITDA	5.9%	68.00	65.00	59.00	60.00	-
EBITDA Margin	-3.6%	0.21*	0.22*	0.21*	0.22*	-
Earnings Before Taxes	5.2%	71.00	68.00	64.00	59.00	56.00
EBT Margin	-3.9%	0.21*	0.21*	0.21*	0.20*	-
Interest Expenses	106.1%	2.00	1.00	1.00	0.00	0.00
Net Income	5.3%	55.00	52.00	50.00	46.00	44.00
Net Income Margin	-5.1%	0.16*	0.17*	0.16*	0.16*	-
Free Cahsflow	16.7%	169	145	177	149	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	10.3%	1,441	1,306	1,216	1,051	957
Cash Equivalents	18.0%	80.00	68.00	29.00	36.00	47.00
Net PPE	-10.4%	1.00	1.00	1.00	1.00	0.00
Liabilities	12.4%	1,036	922	849	673	577
Shareholder's Equity	5.2%	405	385	368	378	380
Retained Earnings	12.0%	98.00	88.00	80.00	79.00	72.00
Additional Paid-In Capital	1.2%	337	334	330	326	322
Shares Outstanding	-0.3%	25.00	25.00	25.00	25.00	25.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	-17.9%	139	170	145	178	149
Share Based Compensation	-	12.00	-	-	-	-
Cashflow From Investing	12.6%	-137	-156	-163	-172	-113
Cashflow From Financing	523.5%	31.00	5.00	6.00	6.00	-11.94
Buy Backs	-17.9%	28.00	34.00	23.00	20.00	17.00

Risks for PLMR

What is the probability of a big loss on PLMR?

77.9%

Probability that Palomar Holdings stock will be more than 20% underwater in next one year

61.8%

Probability that Palomar Holdings stock will be more than 30% underwater in next one year.

59.5%

Probability that Palomar Holdings stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does PLMR drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Palomar Holdings was unfortunately bought at previous high price.

Drawdowns

Returns for PLMR

Cumulative Returns on PLMR

-14.0%

3-Year Cumulative Returns

Which funds bought or sold PLMR recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-23	Capital Impact Advisors, LLC	reduced	-21.5	-22,943	543,499	0.67%
2023-05-22	AMERIPRISE FINANCIAL INC	added	7.7	1,386,480	5,764,480	-%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	reduced	-28.00	-94,000	696,000	-%
2023-05-18	JPMORGAN CHASE & CO	added	60.33	1,376,000	2,812,000	-%
2023-05-17	Thrivent Financial for Lutherans	reduced	-3.39	211,000	1,380,000	-%
2023-05-16	SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC	sold off	-100	-650,710	-	-%
2023-05-16	ATLAS CAPITAL ADVISORS LLC	unchanged	-	3,677,490	20,218,900	3.18%
2023-05-16	SUSQUEHANNA INTERNATIONAL GROUP, LLP	added	32.19	309,261	811,440	-%
2023-05-16	JANE STREET GROUP, LLC	added	57.64	462,285	961,032	-%
2023-05-16	Rockefeller Capital Management L.P.	sold off	-100	-	-	-%

Latest Funds Activity

Are funds buying PLMR calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own PLMR

No. of Funds

Palomar Holdings News

Schedule 13G FIlings of Palomar Holdings

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 10, 2023	amundi	0.0%	914	SC 13G/A
Feb 09, 2023	vanguard group inc	9.02%	2,276,208	SC 13G/A
Jan 23, 2023	blackrock inc.	15.3%	3,868,622	SC 13G/A
Feb 14, 2022	amundi	5.5%	1,393,097	SC 13G/A
Jan 27, 2022	blackrock inc.	14.2%	3,601,274	SC 13G/A
Jan 26, 2022	blackrock inc.	14.2%	3,601,274	SC 13G/A
Feb 16, 2021	price t rowe associates inc /md/	3.8%	989,060	SC 13G/A
Feb 16, 2021	amundi	5.0%	1,275,179	SC 13G
Feb 10, 2021	vanguard group inc	7.28%	1,856,805	SC 13G
Feb 08, 2021	genstar vi gp aiv ltd.	0%	0	SC 13G/A

PLMR Fair Value

Show Fair-Value

Recent SEC filings of Palomar Holdings

View All Filings

Date Filed	Form Type	Document
May 30, 2023	8-K	Current Report
May 26, 2023	4	Insider Trading
May 26, 2023	4	Insider Trading
May 26, 2023	4	Insider Trading
May 26, 2023	4	Insider Trading
May 26, 2023	4	Insider Trading
May 26, 2023	4	Insider Trading
May 25, 2023	8-K	Current Report
May 08, 2023	10-Q	Quarterly Report
May 03, 2023	8-K	Current Report

Latest Insider Trading transactions for PLMR

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-05-25	Notaras Martha	acquired	-	-	1,639	-
2023-05-25	Taketa Richard H	acquired	-	-	1,639	-
2023-05-25	Middleton Daina	acquired	-	-	1,639	-
2023-05-25	DOWDELL ROBERT E	acquired	-	-	1,639	-
2023-05-25	Fallon Catriona M.	acquired	-	-	1,639	-
2023-05-25	Bradley Daryl	acquired	-	-	1,639	-
2023-03-15	Uchida T Christopher	sold	-55,000	55.00	-1,000	chief financial officer
2023-03-15	Uchida T Christopher	acquired	15,000	15.00	1,000	chief financial officer
2023-02-23	Christianson Jon	sold	-240,000	60.00	-4,000	president
2023-02-16	Uchida T Christopher	acquired	30,000	15.00	2,000	chief financial officer

About Palomar Holdings

Mac Armstrong

www.PalomarSpecialty.com

150

Palomar Holdings, Inc., an insurance holding company, provides specialty property insurance to residential and commercial customers. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance, commercial flood, real estate error and omission, and real estate investor products. It markets and distributes its products through retail agents, wholesale brokers, program administrators, and carrier partnerships. The company was formerly known as GC Palomar Holdings. Palomar Holdings, Inc. was incorporated in 2013 and is headquartered in La Jolla, California.

PLMR Income Statement

2023-03-31

Condensed Consolidated Statements of Income and Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues:
Gross written premiums	$ 250,112	$ 170,934
Ceded written premiums	(170,344)	(89,552)
Net written premiums	79,768	81,382
Change in unearned premiums	3,473	(5,350)
Net earned premiums	83,241	76,032
Net investment income	5,120	2,579
Net realized and unrealized gains (losses) on investments	146	(1,278)
Commission and other income	695	777
Total revenues	89,202	78,110
Expenses:
Losses and loss adjustment expenses	20,652	14,954
Acquisition expenses, net of ceding commissions and fronting fees	25,679	28,054
Other underwriting expenses	19,222	15,925
Interest expense	1,020	93
Total expenses	66,573	59,026
Income before income taxes	22,629	19,084
Income tax expense	5,316	4,547
Net income	17,313	14,537
Other comprehensive income (loss), net:
Net unrealized gains (losses) on securities available for sale	5,474	(18,463)
Net comprehensive income (loss)	$ 22,787	$ (3,926)
Per Share Data:
Basic earnings per share	$ 0.69	$ 0.57
Diluted earnings per share	$ 0.68	$ 0.56
Weighted-average common shares outstanding:
Basic (in shares)	24,969,703	25,362,179
Diluted (in shares)	25,442,902	25,899,290

PLMR Balance Sheet

2023-03-31

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Investments:
Fixed maturity securities available for sale, at fair value (amortized cost: $594,736 in 2023; $561,580 in 2022)	$ 554,489	$ 515,064
Equity securities, at fair value (cost: $42,352 in 2023; $42,352 in 2022)	39,356	38,576
Total investments	593,845	553,640
Cash and cash equivalents	80,295	68,108
Restricted cash	65	56
Accrued investment income	4,077	3,777
Premiums receivable	187,910	162,858
Deferred policy acquisition costs, net of ceding commissions and fronting fees	54,187	56,740
Reinsurance recoverable on paid losses and loss adjustment expenses	45,801	39,718
Reinsurance recoverable on unpaid losses and loss adjustment expenses	183,601	153,895
Ceded unearned premiums	232,425	204,084
Prepaid expenses and other assets	41,291	44,088
Deferred tax assets, net	9,005	10,622
Property and equipment, net	540	603
Intangible assets, net	7,948	8,261
Total assets	1,440,990	1,306,450
Liabilities:
Accounts payable and other accrued liabilities	19,401	25,760
Reserve for losses and loss adjustment expenses	264,967	231,415
Unearned premiums	496,182	471,314
Ceded premium payable	173,035	146,127
Funds held under reinsurance treaty	11,356	10,680
Borrowings from credit agreements	71,400	36,400
Total liabilities	1,036,341	921,696
Stockholders' equity:
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, 0 shares issued and outstanding as of March 31, 2023 and December 31, 2022
Common stock, $0.0001 par value, 500,000,000 shares authorized, 24,942,196 and 25,027,467 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively	3	3
Additional paid-in capital	337,492	333,558
Accumulated other comprehensive loss	(31,041)	(36,515)
Retained earnings	98,195	87,708
Total stockholders' equity	404,649	384,754
Total liabilities and stockholders' equity	$ 1,440,990	$ 1,306,450