Latest news with #Palomar
Yahoo
a day ago
- Business
- Yahoo
Looking for a Growth Stock? 3 Reasons Why Palomar (PLMR) is a Solid Choice
Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. However, it isn't easy to find a great growth stock. In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end. However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects. Palomar (PLMR) is on the list of such stocks currently recommended by our proprietary system. In addition to a favorable Growth Score, it carries a top Zacks Rank. Studies have shown that stocks with the best growth features consistently outperform the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy). While there are numerous reasons why the stock of this insurance holding company is a great growth pick right now, we have highlighted three of the most important factors below: Earnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration. While the historical EPS growth rate for Palomar is 54%, investors should actually focus on the projected growth. The company's EPS is expected to grow 36.1% this year, crushing the industry average, which calls for EPS growth of 3.4%. While cash is the lifeblood of any business, higher-than-average cash flow growth is more important and beneficial for growth-oriented companies than for mature companies. That's because, growth in cash flow enables these companies to expand their businesses without depending on expensive outside funds. Right now, year-over-year cash flow growth for Palomar is 45.1%, which is higher than many of its peers. In fact, the rate compares to the industry average of 15%. While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 25.5% over the past 3-5 years versus the industry average of 11.5%. Superiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements. The current-year earnings estimates for Palomar have been revising upward. The Zacks Consensus Estimate for the current year has surged 3.1% over the past month. While the overall earnings estimate revisions have made Palomar a Zacks Rank #2 stock, it has earned itself a Growth Score of B based on a number of factors, including the ones discussed above. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. This combination indicates that Palomar is a potential outperformer and a solid choice for growth investors. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Palomar Holdings, Inc. (PLMR) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
5 days ago
- Business
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Palomar Holdings, Inc. Announces Successful Completion of June 1 Reinsurance Placement
~ Full-Year 2025 Adjusted Net Income Guidance Increased to $195 Million to $205 Million ~ LA JOLLA, Calif., May 29, 2025 (GLOBE NEWSWIRE) -- Palomar Holdings, Inc. (NASDAQ: PLMR) ('Palomar' or the 'Company') today announced the successful completion of certain reinsurance programs incepting June 1, 2025, and increased the Company's full year 2025 adjusted net income guidance. The Company has procured approximately $455 million of incremental limit to support the growth of its Earthquake franchise. Palomar's reinsurance coverage now extends to $3.53 billion for earthquake events and $100 million for continental United States hurricane events. Palomar's per occurrence event retention is $11 million for hurricane events, reduced from $15.5 million the previous treaty year, and $20 million for earthquake events, levels that continue to be meaningfully within management's previously stated guideposts of less than one quarter's adjusted net income and less than 5% of stockholders' equity. The reinsurance program continues to provide ample capacity for the Company's growth in the subject business lines as well as coverage to a level exceeding Palomar's 1:250-year peak zone Probable Maximum Loss. Of note, $525 million of the $3.53 billion earthquake limit was sourced through Palomar's sixth and largest Torrey Pines Re catastrophe bond issuance, which exceeded management's $425 million target and priced at the lower end of the indicated range. Effective June 1st, Palomar also executed the first standalone excess of loss ('XOL') treaty covering the Hawaii hurricane policies issued by Laulima Exchange. This business was previously covered through Palomar's core reinsurance tower, which now consists of over 95% earthquake-only coverage as a result of this change. Laulima's XOL reinsurance program consists of per occurrence coverage up to $735 million with a retention of $1.5 million. 'We are very pleased with the outcome of our June 1 excess of loss placement and remain grateful for the continued support of our broad and diverse reinsurance panel,' commented Mac Armstrong, Palomar's Chairman and Chief Executive Officer. 'Beyond the risk adjusted rate decrease of approximately 10%, this renewal saw Palomar procure incremental earthquake limit to support our growth, maintain our earthquake event retention despite significant year-over-year exposure growth, reduce our wind event retention to $11 million, upsize our Torrey Pines Re catastrophe bond and successfully execute our first standalone Laulima excess of loss treaty. Importantly these initiatives were consummated at attractive prices that should enhance our earnings prospects for the remainder of 2025 and the first half of 2026. As a result, we are raising our full-year 2025 adjusted net income guidance range to $195 million to $205 million from the previously indicated range of $186 million to $200 million.' Other highlights of the Company's reinsurance program include: $1.15 billion of multi-year ILS capacity providing diversifying collateralized reinsurance capital; A reinsurance panel of over 100 reinsurers and ILS investors, including multiple new reinsurers, all of which have an 'A-' (Excellent) or better financial strength rating from A.M. Best and/or S&P (Standard & Poor's) or are fully collateralized; Prepaid reinstatements for substantially all layers that include a reinstatement provision, thereby limiting the pre-tax net loss to $11 million for hurricane events and $20 million for earthquake events, with modest additional reinsurance premium due. Palomar's Chief Risk Officer, Jon Knutzen, added, 'We are grateful for the strong and diversified support we received from the reinsurance market. The continued confidence from both incumbent and new partners is a testament to the strength of our portfolio and the disciplined execution of our risk transfer strategy. The June 1 placement further enhances the stability and predictability of our results, positioning us to deliver increased value to our shareholders over the long term. We appreciate the collaboration and partnership that made this successful outcome possible.' About Palomar Holdings, Inc. Palomar Holdings, Inc. is the holding company of subsidiaries Palomar Specialty Insurance Company ('PSIC'), Palomar Specialty Reinsurance Company Bermuda Ltd. ('PSRE'), Palomar Insurance Agency, Inc., Palomar Excess and Surplus Insurance Company ('PESIC'), Palomar Underwriters Exchange Organization, Inc. ("PUEO"), First Indemnity of America Insurance Co. ("FIA"), and Palomar Crop Insurance Services, Inc. ("PCIS"). Palomar's consolidated results also include Laulima Exchange ("Laulima"), a variable interest entity for which the Company is the primary beneficiary. Palomar is an innovative specialty insurer serving residential and commercial clients in five product categories: Earthquake, Inland Marine and Other Property, Casualty, Fronting, and Crop. Palomar's insurance subsidiaries, PSIC, PSRE, and PESIC, have a financial strength rating of 'A' (Excellent) from A.M. Best. FIA carries an 'A-' (Stable) rating from A.M. Best. To learn more, visit Follow Palomar on LinkedIn: @PLMRInsurance Safe Harbor StatementPalomar cautions you that statements contained in this press release may regard matters that are not historical facts but are forward-looking statements. These statements are based on the company's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by Palomar that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in the Company's business. The forward-looking statements are typically, but not always, identified through use of the words "believe," "expect," "enable," "may," "will," "could," "intends," "estimate," "anticipate," "plan," "predict," "probable," "potential," "possible," "should," "continue," and other words of similar meaning. Actual results could differ materially from the expectations contained in forward-looking statements as a result of several factors, including unexpected expenditures and costs, unexpected results or delays in development and regulatory review, regulatory approval requirements, the frequency and severity of adverse events and competitive conditions. These and other factors that may result in differences are discussed in greater detail in the Company's filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. ContactMedia InquiriesLindsay Conner1-551-206-6217lconner@ Investor RelationsJamie Lillis1-203-428-3223investors@ Source: Palomar Holdings, in to access your portfolio
Yahoo
17-05-2025
- Business
- Yahoo
3 Reasons Why Palomar (PLMR) Is a Great Growth Stock
Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. But finding a great growth stock is not easy at all. By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss. However, the task of finding cutting-edge growth stocks is made easy with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects. Palomar (PLMR) is on the list of such stocks currently recommended by our proprietary system. In addition to a favorable Growth Score, it carries a top Zacks Rank. Studies have shown that stocks with the best growth features consistently outperform the market. And for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better. Here are three of the most important factors that make the stock of this insurance holding company a great growth pick right now. Arguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration. While the historical EPS growth rate for Palomar is 54%, investors should actually focus on the projected growth. The company's EPS is expected to grow 36.1% this year, crushing the industry average, which calls for EPS growth of 3%. While cash is the lifeblood of any business, higher-than-average cash flow growth is more important and beneficial for growth-oriented companies than for mature companies. That's because, growth in cash flow enables these companies to expand their businesses without depending on expensive outside funds. Right now, year-over-year cash flow growth for Palomar is 45.1%, which is higher than many of its peers. In fact, the rate compares to the industry average of 15.6%. While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 25.5% over the past 3-5 years versus the industry average of 11.6%. Beyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements. The current-year earnings estimates for Palomar have been revising upward. The Zacks Consensus Estimate for the current year has surged 3.2% over the past month. Palomar has not only earned a Growth Score of B based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #2 because of the positive earnings estimate revisions. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. This combination positions Palomar well for outperformance, so growth investors may want to bet on it. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Palomar Holdings, Inc. (PLMR) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
24-04-2025
- Entertainment
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Mediawan Scores Key Licensing Deals on Bille August's ‘The Count of Monte Cristo' in U.S., U.K. and More Key Territories (EXCLUSIVE)
Mediawan has scored a raft of major licensing deals on 'The Count of Monte Cristo,' the highly anticipated epic series directed by two-time Palme d'Or winner Bille August. A lushly lensed adaptation of Alexandre Dumas' iconic masterpiece, the series will have a gala premiere on closing night of Canneseries where it will play out of competition in the Lumière Theatre, in the presence of August, and his key cast, Sam Claflin ('Peaky Blinders') and Ana Girardot ('The Returned'). More from Variety French Production Reached Near Record in 2024, While Streamers' Financing Skyrocketed by 60% Canneseries Industry: Soo Hugh, Beau Willimon, Jane Tranter, Eric Rochant, Malin Sarah Gozin to Talk at First Edition Canneseries Unveils Lineup, Including J.J. Abrams' 'Duster,' 'The Walking Dead: Dead City,' 'The Agency' Produced by Palomar and DEMD Productions, two Mediawan companies, 'The Count of Monte Cristo' has lured PBS Masterpiece in the U.S. and UKTV in the U.K., along with TVE in Spain, RTS in Switzerland, and the Nordic PSB alliance which includes SVT, NRK, DR, YLE and RUV. The eight-episode series will also be broadcast in Eastern European countries, including Poland with TVP, Hungary with TV2, and the Czech Republic with Ceska TV. Mediawan is also in negotiation to close more major territories. Claflin stars in 'The Count of Monte Cristo' as Edmond Dantes, a nineteen-year-old sailor who was falsely accused of treason and is imprisoned without trial in the Château d'If, a grim island fortress off Marseille. After many years of captivity he finally escapes and, under the identity of the Count of Monte Cristo, he plans to take revenge on those who have wrongly accused him. 'The Count of Monte Cristo' already premiered in Italy where it broke rating records. On Rai1, the miniseries was a massive success, attracting nearly 6 million viewers, a 30.5% market share. Mediawan said the ratings on Rai marked the broadcaster's highest score on that slot within the last three years. The show was commissioned by France Télévisions in France and RAI in Italy, and distributed worldwide by Mediawan Rights in cooperation with CAA for North America and with the participation of Entourage Vleeschhouwer, Mediawan Rights' managing director, said the show's 'global resonance underscores Mediawan Rights' enduring commitment to supporting the best talents and the best IPs.' Vleeschhouwer said 'The Count of Monte Cristo' taps into the 'needs of a dynamic global market' for 'appealing premium content.' Nicola Serra, Palomar CEO, praised the series' 'wonderful talents.' 'Their amazing work made this show a worldwide event for a global audience. We hope they will love the show as much as we loved to make it,' said Serra. August, the revered Danish filmmaker whose credits include 'Pelle the Conqueror,' 'The Best Intentions' and 'Les Misérables,' shot the series on location in Europe over five-months. 'The Count of Monte Cristo' is the first international series of that caliber fully produced as well as distributed by Mediawan, and financed with Entourage. Best of Variety New Movies Out Now in Theaters: What to See This Week What's Coming to Disney+ in April 2025 The Best Celebrity Memoirs to Read This Year: From Chelsea Handler to Anthony Hopkins
Yahoo
24-03-2025
- Business
- Yahoo
Palomar to buy crop insurer Advanced AgProtection
Palomar Holdings has agreed to acquire Advanced AgProtection (AAP), a specialised crop managing general agent based in Texas. This acquisition is due to be finalised during the second quarter of 2025 (Q2 2025). Palomar invested in AAP in 2023, marking the start of their alliance. The company uses AAP Policy Processing System (APPS) to service crop insurance policies. Commenting on the latest deal, Palomar president Jon Christianson said: 'Building on our successful collaboration with Advanced AgProtection over the last two years, this acquisition marks a natural progression for Palomar and our crop franchise. 'AAP's platform will provide the infrastructure for continued growth as Palomar establishes itself as a preferred and emerging leader in the crop marketplace. Our teams are energised by the opportunities this combination brings. We are thrilled to welcome the AAP team to Palomar.' Palomar Holdings encompasses a range of subsidiaries including Palomar Specialty Insurance Company, Palomar Specialty Reinsurance Company Bermuda, Palomar Insurance Agency as well as Palomar Excess and Surplus Insurance Company. Additionally, it comprises Palomar Underwriters Exchange Organisation, Palomar Crop Insurance Services and First Indemnity of America Insurance Company. The acquisition of AAP follows Palomar purchase of First Indemnity of America Insurance Company (FIA), which supported its foray into the surety market. FIA was established in 1979 and began operations by writing surety bonds in New Jersey. "Palomar to buy crop insurer Advanced AgProtection " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
