2024-02-20 09:20:35 ET
Summary
- Palomar achieved an impressive +17% earnings beat for Q4 2023, as the company's earthquake and casualty insurance businesses witnessed strong growth.
- PLMR is anticipating a solid +20% bottom line expansion in the current fiscal year, based on the company's management guidance.
- I remain bullish on Palomar stock, as the company's favorable FY 2024 financial guidance has yet to be completely reflected in its P/E and P/B valuation metrics.
Elevator Pitch
I continue to rate Palomar Holdings ( PLMR ) as a Buy. My prior update published on September 14, 2023 touched on PLMR's favorable corporate developments and the company's stance regarding share repurchases....
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Palomar: Positive Guidance Isn't Fully Priced In