Palomar Holdings, Inc. (PLMR) has been trading above its 50-day simple moving average (SMA), signaling a short-term bullish trend. Its share price, as of Jan. 15, 2025, was $107.11, down 5.1% from its 52-week high of $112.90.The 50-day SMA is a key indicator for traders and analysts to identify support and resistance levels. It is considered particularly important as this is the first marker of an uptrend or downtrend.With a market capitalization of $2.83 billion, Palomar is set to gain from new business, s ...

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LA JOLLA, Calif., Jan. 02, 2025 (GLOBE NEWSWIRE) -- Palomar Holdings, Inc. (NASDAQ: PLMR) (“Palomar” or the “Company”) today announced the completion of the Company’s acquisition of First Indemnity of America Insurance Company (“FIA”), effective January 1, 2025. “I am very excited to announce the completion of our acquisition of FIA and to welcome FIA’s management team, employees and insureds to Palomar,” commented Mac Armstrong, Palomar’s Chairman and Chief Executive Officer. “This transaction provides us ...

Palomar Holdings, Inc. (PLMR) shares have rallied 102.1% year to date (YTD) compared with the industry's growth of 28.2%. The Finance sector and the Zacks S&P 500 composite have returned 21% and 27.8%, respectively, YTD. With a market capitalization of $2.96 billion, the average volume of shares traded in the last three months was 0.15 million.PLMR Outperforms Industry, Sector, S&P YTDImage Source: Zacks Investment ResearchShares of PLMR closed at $112.17 on Monday, near its 52-week high of $112.47. This pr ...

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It has been about a month since the last earnings report for Palomar (PLMR) . Shares have added about 19.8% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Palomar due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Palomar Q3 Earnings, Revenues Top Estimates on Highe ...

Palomar Holdings, Inc. (PLMR) shares have rallied 86.8% year to date (YTD) compared with the industry's growth of 31.5%. The Finance sector and the Zacks S&P 500 composite have returned 21.3% and 23.4%, respectively, YTD. With a market capitalization of $2.74 billion, the average volume of shares traded in the last three months was 0.15 million.PLMR Outperforms Industry, Sector, S&P YTDImage Source: Zacks Investment ResearchShares of PLMR closed at $103.69 on Friday, near its 52-week high of $107.00. This p ...

LA JOLLA, Calif., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Palomar Holdings, Inc. (NASDAQ: PLMR) (the “Company”) today announced that Benson Latham has been appointed Executive Vice President, Head of Crop, where he will be responsible for leading Palomar’s rapidly growing Crop franchise. Benson Latham is a 30-year veteran of the Crop insurance industry and joins Palomar from Great American Insurance Company. Mr. Latham began his career at ProAg, where he helped build a large-scale Crop franchise with over 400 emp ...

Table of Contents Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.0001 per share PLMR The Nasdaq Stock Market LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the tran ...

Financial Data and Key Metrics Changes - Adjusted net income for Q3 2024 was $32.4 million, or $1.23 per share, representing a 39% increase from $23.3 million, or $0.92 per share, in Q3 2023 [45] - Adjusted underwriting income increased to $31 million from $25 million year-over-year [46] - Adjusted combined ratio was 77.1% for Q3 2024, up from 70.9% in Q3 2023, while the adjusted return on equity was 21%, down from 22.3% [46][47] Business Line Data and Key Metrics Changes - Earthquake business gross written premium grew by 19%, with residential earthquake business showing strong new business growth and high policy retention [15] - Casualty premiums increased by 91% year-over-year, with standout classes like real estate errors and omissions growing by 40% [26] - Crop premiums reached $60 million in Q3, with year-to-date premiums exceeding $100 million compared to $12.1 million last year [33][35] Market Data and Key Metrics Changes - The company experienced a 32% increase in gross written premiums, totaling $415 million in Q3 2024 [48] - Hawaii Hurricane premiums grew by 74% in Q3, driven by a 23% rate increase approved in the previous quarter [23] - The attritional loss ratio for Q3 was 20.2%, reflecting strong performance in property lines despite elevated catastrophe losses [54][105] Company Strategy and Development Direction - The company aims to achieve strong premium growth across its portfolio, focusing on segments with the best risk-adjusted returns [9] - A strategic imperative includes navigating market dislocation and diversifying the business, supported by a $160 million equity issuance [10] - The company is committed to delivering consistent earnings and scaling the organization, with significant investments in talent acquisition [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining high teen growth rates for the earthquake business, despite competitive pressures [64] - The company anticipates a favorable trend in net earned premium ratios moving forward, expecting Q3 to be the low point [68] - Management highlighted the importance of diversifying into crop insurance as a stabilizing factor against property market volatility [78] Other Important Information - The company raised $160 million through equity issuance to strengthen its balance sheet and support growth initiatives [10] - The acquisition of FIA, a surety insurer, is expected to close in early 2025, with no financial contribution anticipated in Q4 2024 [41] - The company’s stockholder's equity reached $703.3 million, reflecting consistent profitable growth [59] Q&A Session Summary Question: Growth prospects for the earthquake business next year - Management feels positive about growth prospects, expecting 18% to 20% growth for 2024, with a balanced approach between residential and commercial segments [64] Question: Impact of mix of business versus pricing on earned premium ratio - The increase in the earned premium ratio is attributed to a combination of rate, mix, and strong performance in excess of loss placements [66][68] Question: Profitability of property businesses over time - The property portfolio has generally been profitable, with some underperformers being monitored and exposure reduced [77] Question: Crop business as a diversifier - The crop business is viewed as a strong diversifier, uncorrelated with property market cycles, and expected to contribute steadily to earnings [78][79] Question: Catastrophe losses and expected levels - Management expects catastrophe losses to stabilize around 3 to 4 points on the combined ratio, with adjustments made to reduce exposure [84] Question: Underwriting expense ratio expectations - The underwriting expense ratio is expected to stabilize in the mid-6% to 7% range as the business scales, with ongoing investments in talent [86][87]