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PLMR

Palomar

$29.80

-0.14 (-0.47%)

16:20
08/12/19
08/12
16:20
08/12/19
16:20

Palomar reports Q2 EPS 30c, consensus 29c

Reports Q2 revenue $25.9M, consensus $. "We are pleased with our second quarter results, highlighted by gross written premium growth of 56.2%, year over year, driven by strong performance across all of our product lines. Additionally, we successfully renewed $470 million of our core reinsurance program at June 1, 2019 and purchased $200 million of incremental limit at the top of our reinsurance tower, expanding our coverage for earthquake events up to $1.05 billion. We continue to pursue what we believe is a substantial market opportunity while maintaining a thoughtful and conservative risk transfer strategy. Our retention remains at $5.0 million per earthquake or wind event, which not only provides loss protection but also strong visibility into our earnings," commented Mac Armstrong, Chief Executive Officer and Founder. "Our core products continued to demonstrate high retention, improving pricing trends, and strong new business activity. In addition, we maintained our focus on developing innovative products that address underserved markets and saw increasing contributions from several of our newer product offerings including our recently launched Inland Marine and Assumed Reinsurance divisions. Looking forward, we believe we are well positioned for growth as we continue to scale our existing lines of business, introduce new products and expand our geographic footprint."

  • 13

    Aug

  • 04

    Sep

PLMR Palomar
$29.80

-0.14 (-0.47%)

05/13/19
RHCO
05/13/19
INITIATION
Target $27
RHCO
Buy
Palomar initiated with a Buy at SunTrust
SunTrust analyst Mark Hughes initiated Palomar with a Buy rating and a price target of $27, citing its position as a "differentiated growth company" with high returns on capital and a valuation at a "material discount". The analyst notes that the revenue opportunity in the Property & Casualty insurance market undergoing "emerging fundamental tailwinds" is about $20B, adding that his assumed 15-times forward earnings multiple still offers a "meaningful discount" relative to Palomar's peers. Hughes is also positive on the company's strategy of targeting catastrophe-exposed end markets where competition is moderate and where its advanced technology is advantageous.
05/14/19
WBLR
05/14/19
INITIATION
WBLR
Outperform
Palomar initiated with an Outperform at William Blair
William Blair analyst Adam Klauber started Palomar Holdings with an Outperform rating calling the company a "high-growth tech-enabled" insurer.
05/15/19
WBLR
05/15/19
INITIATION
WBLR
Outperform
Palomar one of the best growth stories in insurance, says William Blair
William Blair analyst Adam Klauber last night initiated coverage of Palomar Holdings with an Outperform rating. The company's analytical underwriting approach creates a material pricing advantage over peers and helps drive peer-leading underwriting margins, Klauber tells investors in a research note. He believes Palomar represents one of the best growth opportunities in the insurance sector, with estimated earnings growth of 27% in 2020 and mid-teens over the longer term.
05/15/19
05/15/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Target Hospitality (TH) initiated with a Buy at Stifel. 2. Palomar (PLMR) initiated with an Outperform at William Blair. 3. MKS Instruments (MKSI) initiated with a Positive at Susquehanna. 4. Pinduoduo (PDD) initiated with a Buy at BofA/Merrill. 5. Four Corners Property Trust (FCPT) initiated with an Equal Weight at Barclays. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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NTLA

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NVLN

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LMT

Lockheed Martin

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ONCS

OncoSec

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TNXP

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  • 25

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S&P 500

$0.00

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ATIS

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CVEO

Civeo

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AGO

Assured Guaranty

$42.56

-1.09 (-2.50%)

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