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Palomar Holdings, Inc.
NASDAQ: PLMR Financials Insurance 🔎 Screen
🏹 Trader: 🚀 Stage 2 + Near High 📈 Stage 2 🎯 Near 52W High | BRS 69 Forming View all →
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$3.6B
Market Cap
18.8
P/E
0.79
PEG
23.5%
ROCE
23.6%
ROE
0.01
D/E
29.0%
OPM
-8.2%
% from 52W High
70
α RS
🔍 PLMR is showing a high-conviction setup because it matches 6 of 39 tracked screener presets, RS Rating is 70, and it's within 8.2% of its 52-week high. Net: Broad signal stack, not a recommendation. ? Conviction RS Rating 52W High
Sources
Conviction 6/39 · RS Rating 70 · 8.2% from 52W high
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🌏 Global Investor Returns
Currency-adjusted total returns for PLMR including FX impact
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📈 Price History
Ratio Health
Excellent
Good
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By Category
📊 Sector Averages
About

Palomar Holdings, Inc., a specialty insurance company, provides property and casualty insurance to individuals and businesses in the United States. The company offers personal and commercial specialty insurance products, including residential and commercial earthquake; fronting; and inland marine and other property products, such as inland marine, Hawaii hurricane, excess national property, residential flood, and other property products, as well as assumed reinsurance and crop insurance products. It markets and distributes its products through retail agents, program administrators, wholesale brokers, and strategic 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 Ratios Snapshot
📈 Growth Pattern
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Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 148.6K $17.8M 0.02% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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📊 MIXED Palomar Q1 2026: Adjusted net income $63.1M, up 23% YoY
Revenue & Profitability
Q1 2026: Gross earned premiums $629.8 million (up 42% YoY); net earned premiums $261.4 million (up 59% YoY); adjusted net income $63.1 million ($2.31 per share), up 23% YoY; adjusted underwriting income $62.8 million, up 22% YoY. Catastrophe losses were $0.3 million in the quarter, with $3 million from Hawaii flooding offset by favorable prior-year development of $10.3 million. Net investment income was $18 million, up 49% YoY.
Outlook
Management is confident in sustained profitable growth and attractive returns, raising full-year 2026 adjusted net income guidance to $262-$278 million (from $260-$275 million). Market conditions are dynamic: property pricing remains competitive (double-digit declines on large commercial accounts), casualty pricing varies (healthcare liability seeing 35% rate increases but moderating in several lines), and commercial earthquake rates are decreasing approximately 18% on renewals. Residential earthquake and admitted property markets remain favorable.
Growth Drivers
Growth is broad-based across all five product categories. Crop gross written premium rose 82% YoY, with guidance raised to 35% growth for 2026. Surety and credit increased 131% YoY, supported by the Gray Surety acquisition and T-listing authority of over $72 million. Inland marine and property grew 47%, led by builders risk and a new construction engineering line. Casualty premium increased 55%, driven by new underwriting talent, geographic expansion, and a sports and entertainment general liability program. Earthquake grew 3% despite commercial pressure, with residential earthquake performing well (97% premium retention).
Balance Sheet & CapEx
The company is investing in talent, technology, and systems to support a scalable platform, including the opening of an underwriting office in the Northeast and hires in crop. AI-enabled processes are being deployed across underwriting, claims, and operations using both third-party tools and internally developed solutions. No specific CapEx dollar amounts were provided.
Margins
The adjusted combined ratio was 76% in Q1 2026, compared to 68.5% in Q1 2025, primarily due to a higher loss ratio. Full-year 2026 adjusted combined ratio is expected to be in the mid-70s. The loss ratio (including catastrophes) is expected in the mid-to-upper 30s for 2026. Acquisition expense ratio was 14% of gross earned premiums (expected slight improvement for full year), and other underwriting expense ratio was 8.5% (also expected to improve). Operating leverage is expected over time as the organization scales.
Key Risks
Risks flagged include catastrophe exposure (annual load of $8-$12 million, in line with Q1 flooding in Hawaii), drought conditions impacting winter wheat in Oklahoma and Kansas, continued commercial earthquake pricing pressure, and potential tariff/energy price impacts on crop (though deemed minimal by management). Casualty pricing moderation could pressure returns, and the company noted it will non-renew accounts if pricing does not meet return requirements.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-05
Record Q2 results featured 31% adjusted net income growth and a 27% rise in gross written premium, driven by a diversified specialty portfolio and strong segment performance. Full-year guidance was raised, with continued capital returns via share repurchases and a new dividend.
Q1 2026 Q1 2026 2026-05-07
Q1 2026 saw robust premium and earnings growth, with strong performance across all specialty lines and continued disciplined underwriting. Guidance for 2026 was raised, reflecting confidence in sustained profitability and capital strength.
Q4 2025 Q4 2025 2026-02-12
Record 2025 results included 32% gross written premium and 62% adjusted net income growth, with strong performance across all segments and a 26% ROE. 2026 guidance targets 24% adjusted net income growth, continued margin expansion, and further diversification, supported by the Gray Surety acquisition.
Q3 2025 Q3 2025 2025-11-07
Record Q3 results with 44% premium and 70% adjusted net income growth, driven by diversified specialty lines and strong segment performance. 2025 guidance raised, Gray Surety acquisition announced, and capital position remains robust.
Q2 2025 Q2 2025 2025-08-05
Q2 2025 saw 29% premium growth and 52% higher adjusted net income, with strong results across earthquake, property, casualty, and crop lines. Guidance for 2025 was raised, reflecting over 50% expected net income growth and ROE above 20%.
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📊 Analysis Methodology

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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