Palomar (PLMR) Stock Price, News & Analysis

Company Overview

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. 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 and changed its name to Palomar Holdings, Inc. The company was incorporated in 2013 and is headquartered in La Jolla, California.

Key Stats

• Today's Range: $102.71 to $104.53
• 50-Day Range: $88.38 to $112.17
• 52-Week Range: $54.50 to $112.90
• Volume: 29,003 shs
• Average Volume: 163,525 shs
• Market Capitalization: $2.74 billion
• P/E Ratio: 24.58
• Dividend Yield: N/A
• Price Target: $111.67
• Consensus Rating: Moderate Buy

Palomar Stock Analysis - MarketRank™

Palomar scored higher than 49% of companies evaluated by MarketBeat, and ranked 705th out of 935 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 1.3 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Palomar has received a consensus rating of Moderate Buy. The company's average rating score is 2.57, and is based on 4 buy ratings, 3 hold ratings, and no sell ratings.

Amount of Analyst Coverage

Palomar has only been the subject of 4 research reports in the past 90 days.

Earnings and Valuation

• Score: 3.1 / 5
• Proj. Earnings Growth: 24.94%

Earnings Growth

Earnings for Palomar are expected to grow by 24.94% in the coming year, from $4.33 to $5.41 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Palomar is 24.63, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 112.48.

Price to Earnings Ratio vs. Sector

The P/E ratio of Palomar is 24.63, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 24.98.

Price to Book Value per Share Ratio

Palomar has a P/B Ratio of 5.43. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

1.54% of the outstanding shares of Palomar have been sold short.

Short Interest Ratio / Days to Cover

Palomar has a short interest ratio ("days to cover") of 2.6, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Palomar has recently increased by 14.04%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Palomar does not currently pay a dividend.

Dividend Growth

Palomar does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

1.54% of the outstanding shares of Palomar have been sold short.

Short Interest Ratio / Days to Cover

Palomar has a short interest ratio ("days to cover") of 2.6, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Palomar has recently increased by 14.04%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 2.8 / 5
• News Sentiment: 1.00

News Sentiment

Palomar has a news sentiment score of 1.00. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.72 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 9 news articles for Palomar this week, compared to 5 articles on an average week.

Search Interest

Only 1 people have searched for PLMR on MarketBeat in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Palomar insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $2,802,955.00 in company stock.

Percentage Held by Insiders

Only 4.30% of the stock of Palomar is held by insiders.

Percentage Held by Institutions

90.25% of the stock of Palomar is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

PLMR Stock Analysis - Frequently Asked Questions

How have PLMR shares performed this year?

Palomar's stock was trading at $55.50 at the beginning of 2024. Since then, PLMR stock has increased by 86.8% and is now trading at $103.68.
View the best growth stocks for 2024 here.

How were Palomar's earnings last quarter?

Palomar Holdings, Inc. (NASDAQ:PLMR) released its earnings results on Monday, November, 4th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.20. The company had revenue of $148.50 million for the quarter, compared to analyst estimates of $134.72 million. Palomar had a trailing twelve-month return on equity of 19.65% and a net margin of 21.55%.

When did Palomar IPO?

Palomar (PLMR) raised $63 million in an initial public offering on Wednesday, April 17th 2019. The company issued 5,600,000 shares at a price of $5.00-$17.62 per share. Barclays, J.P. Morgan and Keefe, Woods & Bruyette (A Stifel Company) acted as the underwriters for the IPO and Evercore ISI, William Blair, Sandler O'Neill + Partners and SunTrust Robinson Humphrey were co-managers.

Who are Palomar's major shareholders?

Palomar's top institutional investors include Champlain Investment Partners LLC (4.50%), State Street Corp (4.15%), Stephens Investment Management Group LLC (3.49%) and Sumitomo Mitsui Trust Group Inc. (2.58%). Insiders that own company stock include Mac Armstrong, Jon Christianson, T Christopher Uchida, Jonathan Knutzen, Angela L Grant, Michelle Antoinette Johnson, William Bold and Heath A Fisher.
View institutional ownership trends.

How do I buy shares of Palomar?

Shares of PLMR stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Palomar own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Palomar investors own include NVIDIA (NVDA), Meta Platforms (META), Advanced Micro Devices (AMD), Broadcom (AVGO), ServiceNow (NOW), Adobe (ADBE) and Arista Networks (ANET).

Company Calendar

• Last Earnings: 11/04/2024
• Today: 12/23/2024
• Fiscal Year End: 12/31/2024

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Finance
• Industry: Fire, marine, & casualty insurance
• Sub-Industry: Insurance
• Current Symbol: NASDAQ:PLMR
• CUSIP: N/A
• CIK: 1761312
• Web: www.palomarspecialty.com
• Phone: (619) 567-5290
• Fax: 619-567-6954
• Employees: 150
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $111.67
• High Stock Price Target: $136.00
• Low Stock Price Target: $99.00
• Potential Upside/Downside: +6.4%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.57
• Research Coverage: 7 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $4.21
• Trailing P/E Ratio: 24.92
• Forward P/E Ratio: 24.23
• P/E Growth: N/A
• Net Income: $79.20 million
• Net Margins: 21.55%
• Pretax Margin: 27.74%
• Return on Equity: 19.65%
• Return on Assets: 5.51%

Debt

• Debt-to-Equity Ratio: N/A
• Current Ratio: 0.54
• Quick Ratio: 0.54

Sales & Book Value

• Annual Sales: $503.54 million
• Price / Sales: 5.52
• Cash Flow: $3.27 per share
• Price / Cash Flow: 32.06
• Book Value: $19.08 per share
• Price / Book: 5.50

Miscellaneous

• Outstanding Shares: 26,466,000
• Free Float: 25,328,000
• Market Cap: $2.78 billion
• Optionable: Optionable
• Beta: 0.36