DB:PH8

Stock Analysis Report

Palomar Holdings

Executive Summary

Palomar Holdings, Inc. provides specialty property insurance.

Snowflake

Fundamentals

Overvalued with weak fundamentals.


Similar Companies

Share Price & News

How has Palomar Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

9.3%

PH8

2.6%

DE Insurance

1.7%

DE Market


1 Year Return

n/a

PH8

23.6%

DE Insurance

7.2%

DE Market

Return vs Industry: Insufficient data to determine how PH8 performed against the German Insurance industry.

Return vs Market: Insufficient data to determine how PH8 performed against the German Market.


Shareholder returns

PH8IndustryMarket
7 Day9.3%2.6%1.7%
30 Day25.0%3.9%2.4%
90 Day67.7%3.9%2.3%
1 Yearn/a29.0%23.6%10.6%7.2%
3 Yearn/a69.7%49.2%18.4%8.1%
5 Yearn/a119.2%75.5%42.3%22.9%

Price Volatility Vs. Market

How volatile is Palomar Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Palomar Holdings undervalued compared to its fair value and its price relative to the market?

32.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PH8 (€39.8) is trading below our estimate of fair value (€58.85)

Significantly Below Fair Value: PH8 is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: Insufficient data to calculate PH8's PE Ratio to determine if it is good value compared to the Insurance industry average.

PE vs Market: Insufficient data to calculate PH8's PE Ratio to determine if it is good value compared to the German market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate PH8's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: Insufficient data to calculate PH8's PB Ratio to determine if it is good value.


Next Steps

Future Growth

How is Palomar Holdings forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

3.7%

Forecasted Insurance industry annual growth in earnings


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if PH8's forecast earnings growth is above the savings rate (0.2%).

Earnings vs Market: Insufficient data to determine if PH8's earnings are forecast to grow faster than the German market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: Insufficient data to determine if PH8's revenue is forecast to grow faster than the German market.

High Growth Revenue: Insufficient data to determine if PH8's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PH8's Return on Equity is forecast to be low in 3 years time (19.4%).


Next Steps

Past Performance

How has Palomar Holdings performed over the past 5 years?

1.3%

Historical Insurance annual earnings growth


In this section we usually display a company’s past earnings and revenues to help investors visualise the trend through time. We also gauge the company’s performance by benchmarking its returns and growth to its industry peers and the wider market. However, Palomar Holdings has not provided sufficient past data to assess its track record.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have historical data.


Next Steps

Financial Health

How is Palomar Holdings's financial position? (This company is analysed differently as a bank or financial institution)


In this section we usually analyse Palomar Holdings's finance health to determine how well-positioned it is against times of financial distress, in particular, its ability to manage its cash and debt levels. Palomar Holdings has not provided adequate balance sheet data, its financial health cannot be properly assessed as it.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have financial information.


Next Steps

  • Take a look at our analysis of PH8’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  • Investors tend to look at the financial health of a company this size in order to assess the sustainability of its current operations. Palomar Holdings's cash and debt levels may be found in its annual reports archived here.
  • Financial health is measured at one point in time, so the latest financial report is the best representation of the company’s current financial status. Check when Palomar Holdings's financial data was last updated here.
  • Explore more healthy companies in the Insurance industry.

Dividend

What is Palomar Holdings's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.5%markettop25%3.8%industryaverage3.9%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate PH8's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate PH8's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if PH8's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PH8's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of PH8's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

What is the CEO of Palomar Holdings's salary, the management and board of directors tenure and is there insider trading?

5.7yrs

Average management tenure


CEO

Mac Armstrong 0

5.7yrs

Tenure

US$852,057

Compensation

Mr. David McDonald Armstrong, also known as Mac, is Founder, Chairman and Chief Executive Officer at Palomar Insurance Holdings, Inc. He founded Palomar Specialty Insurance Company in 1963 and serves as it ...


CEO Compensation Analysis

Compensation vs. Market: Insufficient data to establish whether Mac's total compensation is reasonable compared to companies of similar size in the German market.

Compensation vs Earnings: Insufficient data to compare Mac's compensation with company performance.


Management Age and Tenure

5.7yrs

Average Tenure

45.5yo

Average Age

Experienced Management: PH8's management team is seasoned and experienced (5.7 years average tenure).


Board Age and Tenure

0.6yrs

Average Tenure

59.5yo

Average Age

Experienced Board: PH8's board of directors are not considered experienced ( 0.6 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: PH8 insiders have only sold shares in the past 3 months.


Recent Insider Transactions

SellUS$24,410,53502 Oct 19
Genstar Capital, LLC
EntityCompany
Shares763,115
Max PriceUS$31.99
SellUS$780,02802 Oct 19
Genstar Capital Management, LLC
EntityCompany
Shares24,385
Max PriceUS$31.99
SellUS$160,480,60230 Sep 19
Genstar Capital, LLC
EntityCompany
Shares4,993,922
Max PriceUS$32.14
SellUS$5,128,06830 Sep 19
Genstar Capital Management, LLC
EntityCompany
Shares159,578
Max PriceUS$32.14
SellUS$499,86828 Sep 19
Andrew Robinson
EntityIndividual
Role
Senior Key Executive
Chief Underwriting Officer
Shares15,000
Max PriceUS$33.32
SellUS$1,332,98028 Sep 19
D. Armstrong
EntityIndividual
Role
Chief Executive Officer
Co-Founder
Shares40,000
Max PriceUS$33.32
SellUS$1,166,35828 Sep 19
Heath Fisher
EntityIndividual
Role
President
Co-Founder & President
Shares35,000
Max PriceUS$33.32
SellUS$216,60928 Sep 19
Jon Christianson
EntityIndividual
Role
Chief Operating Officer
Chief Operating Officer
Shares6,500
Max PriceUS$33.32

Ownership Breakdown


Management Team

  • Mac Armstrong

    Co-Founder

    • Tenure: 5.7yrs
    • Compensation: US$852.06k
  • Heath Fisher (45yo)

    Co-Founder & President

    • Tenure: 5.7yrs
    • Compensation: US$607.00k
  • Jon Christianson (39yo)

    Chief Operating Officer

    • Tenure: 5.7yrs
    • Compensation: US$498.52k
  • Andy Robinson (56yo)

    Chief Underwriting Officer

    • Tenure: 5.7yrs
  • Chris Uchida (46yo)

    CFO & Corporate Secretary

    • Tenure: 2.1yrs

Board Members

  • J. Clark

    Chairman of the Board

    • Tenure: 0.6yrs
  • Mac Armstrong

    Co-Founder

    • Tenure: 5.7yrs
    • Compensation: US$852.06k
  • Bob Dowdell (73yo)

    Director

    • Tenure: 0.6yrs
    • Compensation: US$25.00k
  • George Estes (71yo)

    Director

    • Tenure: 0.6yrs
    • Compensation: US$100.00k
  • Rick Taketa (47yo)

    Director

    • Tenure: 0.6yrs
    • Compensation: US$25.00k
  • Catriona Fallon (48yo)

    Director

    • Tenure: 0.4yrs
  • Geoff Miller

    Director

    • Tenure: 0.6yrs

Company Information

Palomar Holdings, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Palomar Holdings, Inc.
  • Ticker: PH8
  • Exchange: DB
  • Founded: 2013
  • Industry: Property and Casualty Insurance
  • Sector: Insurance
  • Market Cap: US$1.058b
  • Listing Market Cap: US$949.846m
  • Shares outstanding: 23.47m
  • Website: https://www.palomarspecialty.com

Location

  • Palomar Holdings, Inc.
  • 7979 Ivanhoe Avenue
  • Suite 500
  • La Jolla
  • California
  • 92037
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PLMRNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDApr 2019
PH8DB (Deutsche Boerse AG)YesCommon StockDEEURApr 2019

Biography

Palomar Holdings, Inc. provides specialty property insurance. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, specialty ho ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/22 22:19
End of Day Share Price2019/10/22 00:00
Earnings2017/12/31
Annual Earnings2017/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.