Palomar Holdings Intrinsic Value – Ensign Peak Advisors Inc Reduces Investment in Palomar Holdings, in 2023.
March 16, 2023
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Ensign Peak Advisors Inc has recently announced a decrease in its stock holdings in Palomar Holdings ($NASDAQ:PLMR), Inc. This news was made public in early 2023 and has caused some concern among investors. Palomar Holdings, Inc. is a multibillion-dollar company specializing in financial services, real estate, and technology. This has led to speculation regarding the financial health of Palomar Holdings, Inc. and whether the company will be able to survive the decrease in investments. Despite the reduction in investment, analysts remain optimistic that Palomar Holdings, Inc. will be able to weather the storm and continue to be a successful company.
They point out that the company has a strong track record of financial stability and that the reduction in stock holdings is likely not indicative of a major change in their financial outlook. Investors may be hesitant to invest in Palomar Holdings, Inc. due to the decrease in investments from Ensign Peak Advisors Inc, but they should remember that the company itself is still in good financial health. With the right investments and a focus on continued success, Palomar Holdings, Inc. could still be a viable investment for investors in the future.
Market Price
On Tuesday, Palomar Holdings, Inc. saw its stock open at $56.6 and close at $56.5, up by 3.2% from its last closing price of 54.7. So far, the media coverage of the company has been mostly positive. The reasoning behind the decision is currently unknown, but it has had an effect on investor confidence in the company. Palomar Holdings will need to work to regain investor trust in order to ensure that its stock remains stable and continues to rise going forward. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Palomar Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 327.09 | 52.17 | 15.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Palomar Holdings. More…
| Operations | Investing | Financing |
| 169.58 | -156.81 | 5.02 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Palomar Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.31k | 921.7 | 15.37 |
Key Ratios Snapshot
Some of the financial key ratios for Palomar Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 42.4% | – | 20.9% |
| FCF Margin | ROE | ROA |
| 50.0% | 11.4% | 3.3% |
Analysis – Palomar Holdings Intrinsic Value
At GoodWhale, we have conducted an analysis of PALOMAR HOLDINGS‘s fundamentals and have come to the conclusion that the fair value of their shares is around $114.7. This value was calculated using our proprietary Valuation Line. Currently, PALOMAR HOLDINGS stock is being traded at $56.5, meaning that it is undervalued by 50.7%. Consequently, we believe that PALOMAR HOLDINGS is an attractive investment opportunity for potential investors. More…
Peers
The Company’s segments include Insurance, Reinsurance and Corporate. The Company’s insurance subsidiaries provide property and casualty insurance in the non-standard personal automobile insurance market. The Company’s reinsurance subsidiaries provide excess and surplus lines reinsurance. The Company’s Corporate segment includes the operations of Palomar Specialty Insurance Company (PSIC), which is a captive reinsurance company. The Company’s competitors include United Insurance Holdings Corp, Heritage Insurance Holdings Inc, Universal Insurance Holdings Inc.
– United Insurance Holdings Corp ($NASDAQ:UIHC)
United Insurance Holdings Corp is a property and casualty insurance holding company. The Company through its subsidiaries is engaged in providing property and casualty insurance to policyholders in the United States. As of December 31, 2016, the Company’s primary insurance subsidiaries had an A.M. Best rating of A- (Excellent).
– Heritage Insurance Holdings Inc ($NYSE:HRTG)
Heritage Insurance Holdings Inc is a Florida-based insurance holding company that offers property and casualty insurance in the United States through its subsidiaries. The company has a market cap of $37.99 million and a return on equity of -49.54%. Heritage Insurance Holdings Inc offers a range of personal and commercial insurance products, including home, auto, and business insurance. The company’s products are available through a network of independent insurance agents.
– Universal Insurance Holdings Inc ($NYSE:UVE)
As of 2022, Universal Insurance Holdings Inc has a market cap of 280.44M. The company is a holding company that operates through its subsidiaries to provide property and casualty insurance protection to homeowners, condominium owners, and renters in the United States.
Summary
Palomar Holdings, Inc. has seen an increase in both media exposure and stock price in recent years. In 2023, the prominent asset management firm Ensign Peak Advisors Inc. made a notable move by reducing its investment in Palomar Holdings. Despite this, analysts are still viewing the company as a strong investment opportunity due to its past successes. They point to its strong balance sheet, high shareholder returns and low debt levels as evidence of its potential for future growth.
Additionally, the company’s ongoing technological advancements and its diversified portfolio are viewed as further positive indicators of its continuing success.
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