Palomar Holdings, Inc. is the holding company of subsidiaries Palomar Specialty Insurance Company, Palomar Specialty Reinsurance Company Bermuda Ltd., Palomar Insurance Agency, Inc. and Palomar Excess and Surplus Insurance Company. Palomar is an innovative insurer that focuses on the provision of specialty property insurance for residential and commercial clients. Palomar's underwriting and analytical expertise allow it to concentrate on certain markets that it believes are underserved by other insurance companies, such as the markets for earthquake, hurricane and flood insurance. Palomar's principal insurance subsidiary, Palomar Specialty Insurance Company, is an admitted carrier in 32 states and has an A.M. Best financial strength rating of 'A-' (Excellent).
Company profile
Ticker
PLMR
Exchange
Website
CEO
Mac Armstrong
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
GC Palomar Holdings
SEC CIK
Corporate docs
Subsidiaries
Palomar Insurance Holdings, Inc • Palomar Specialty Insurance Company • Palomar Excess and Surplus Insurance Company • Palomar Specialty Reinsurance Company ...
PLMR stock data
Analyst ratings and price targets
Current price
Average target
$57.00
Low target
$52.00
High target
$64.00
Evercore ISI Group
Downgraded
$52.00
Piper Sandler
Maintains
$64.00
Jefferies
Initiated
$55.00
Latest filings (excl ownership)
8-K
Investor Presentation December 2022
16 Dec 22
10-Q
2022 Q3
Quarterly report
3 Nov 22
8-K
Palomar Holdings, Inc. Reports Third Quarter 2022 Results
2 Nov 22
8-K
Palomar Holdings, Inc. Announces Third Quarter 2022 Estimated Catastrophe Losses and Financial Results Date and Earnings Call
21 Oct 22
10-Q
2022 Q2
Quarterly report
4 Aug 22
8-K
Palomar Holdings, Inc. Reports Second Quarter 2022 Results
3 Aug 22
8-K
Regulation FD Disclosure
15 Jun 22
8-K
Palomar Holdings, Inc. Announces the Successful Completion of June 1 Reinsurance Renewal
2 Jun 22
8-K
Material Modifications to Rights of Security Holders
27 May 22
10-Q
2022 Q1
Quarterly report
5 May 22
Transcripts
PLMR
Earnings call transcript
2022 Q2
8 Aug 22
PLMR
Earnings call transcript
2022 Q1
8 May 22
PLMR
Earnings call transcript
2021 Q4
17 Feb 22
PLMR
Earnings call transcript
2021 Q3
6 Nov 21
PLMR
Earnings call transcript
2021 Q2
8 Aug 21
PLMR
Earnings call transcript
2021 Q1
8 May 21
PLMR
Earnings call transcript
2020 Q4
27 Feb 21
PLMR
Earnings call transcript
2020 Q3
11 Nov 20
PLMR
Earnings call transcript
2020 Q2
9 Aug 20
PLMR
Earnings call transcript
2020 Q1
10 May 20
Latest ownership filings
4
Jon Christianson
30 Jan 23
4
Mac Armstrong
30 Jan 23
4
T Christopher Uchida
30 Jan 23
4
Jonathan Knutzen
30 Jan 23
4
Michelle Antoinette Johnson
30 Jan 23
4
Angela L. Grant
30 Jan 23
SC 13G/A
BlackRock Inc.
23 Jan 23
4
Jon Christianson
22 Nov 22
4
T Christopher Uchida
22 Nov 22
4
Jonathan Knutzen
22 Nov 22
Financial summary
| Quarter (USD) | Sep 22 | Jun 22 | Mar 22 | Dec 21 | |
|---|---|---|---|---|---|
| Revenue | |||||
| Cost of revenue | |||||
| Operating income | |||||
| Operating margin | |||||
| Net income | |||||
| Net profit margin | |||||
| Cash on hand | |||||
| Change in cash | |||||
| Diluted EPS |
| Annual (USD) | Dec 21 | Dec 20 | Dec 19 | |
|---|---|---|---|---|
| Revenue | ||||
| Cost of revenue | ||||
| Operating income | ||||
| Operating margin | ||||
| Net income | ||||
| Net profit margin | ||||
| Cash on hand | ||||
| Change in cash | ||||
| Diluted EPS |
| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 29.54 mm | 29.54 mm | 29.54 mm | 29.54 mm | 29.54 mm | 29.54 mm |
| Cash burn (monthly) | 2.32 mm | 1.01 mm | (no burn) | (no burn) | (no burn) | (no burn) |
| Cash used (since last report) | 10.03 mm | 4.35 mm | n/a | n/a | n/a | n/a |
| Cash remaining | 19.51 mm | 25.19 mm | n/a | n/a | n/a | n/a |
| Runway (months of cash) | 8.4 | 25.0 | n/a | n/a | n/a | n/a |
Institutional ownership, Q3 2022
85.4% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 180 |
| Opened positions | 34 |
| Closed positions | 22 |
| Increased positions | 69 |
| Reduced positions | 57 |
| 13F shares | Current |
|---|---|
| Total value | 1.81 bn |
| Total shares | 21.56 mm |
| Total puts | 25.00 k |
| Total calls | 24.20 k |
| Total put/call ratio | 1.0 |
| Largest owners | Shares | Value |
|---|---|---|
| BLK Blackrock | 3.79 mm | $316.96 mm |
| Vanguard | 2.22 mm | $185.61 mm |
| Nordea Investment Management Ab | 1.24 mm | $109.00 mm |
| T. Rowe Price Investment Management | 1.05 mm | $88.05 mm |
| Villere ST Denis J & Co | 1.05 mm | $87.65 mm |
| CMTDF Sumitomo Mitsui Trust | 922.92 k | $77.27 mm |
| Champlain Investment Partners | 868.07 k | $72.67 mm |
| Stephens Investment Management | 853.43 k | $71.45 mm |
| Alliancebernstein | 799.37 k | $66.92 mm |
| T. Rowe Price | 548.03 k | $45.88 mm |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 27 Jan 23 | Jonathan Knutzen | Common Stock (RSUs) | Payment of exercise | Dispose F | No | No | 49.179 | 136 | 6.69 k | 11,288 |
| 27 Jan 23 | Jonathan Knutzen | Common Stock (RSUs) | Option exercise | Acquire M | No | No | 0 | 371 | 0.00 | 11,424 |
| 27 Jan 23 | Jonathan Knutzen | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 371 | 0.00 | 371 |
| 27 Jan 23 | Michelle Antoinette Johnson | Common Stock (RSUs) | Payment of exercise | Dispose F | No | No | 49.1759 | 96 | 4.72 k | 2,105 |
| 27 Jan 23 | Michelle Antoinette Johnson | Common Stock (RSUs) | Option exercise | Acquire M | No | No | 0 | 230 | 0.00 | 2,201 |
| 27 Jan 23 | Michelle Antoinette Johnson | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 230 | 0.00 | 231 |
| 27 Jan 23 | Angela L. Grant | Common Stock (RSUs) | Payment of exercise | Dispose F | No | No | 49.18 | 103 | 5.07 k | 1,566 |
| 27 Jan 23 | Angela L. Grant | Common Stock (RSUs) | Option exercise | Acquire M | No | No | 0 | 248 | 0.00 | 1,669 |
| 27 Jan 23 | Angela L. Grant | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 248 | 0.00 | 247 |
| 26 Jan 23 | Jonathan Knutzen | Common Stock (RSUs) | Payment of exercise | Dispose F | No | No | 49.5395 | 323 | 16.00 k | 11,053 |
News
Insurance Stocks Moving In Friday's Intraday Session
20 Jan 23
Palomar Holdings, Inc. Announces New Fronting Partnership With Advanced AgProtection
10 Jan 23
Benzinga's Top Ratings Upgrades, Downgrades For January 10, 2023
10 Jan 23
Evercore ISI Group Downgrades Palomar Hldgs to In-Line, Announces $52 Price Target
10 Jan 23
Insurance Stocks Moving In Thursday's Intraday Session
5 Jan 23