Sep. 3 at 2:19 PM
$PLMR High-growth niche insurer (flood & earthquake). Fundamentals remain very strong – rev & FCF growing ~50% YoY, net income +60% YoY. Recent selloff looks like an overreaction, forward P/E ~15 = attractive.
Catalysts: Successful reinsurance placement, strong Residential EQ growth, Neptune partnership (2026 driver), $ 150M buyback, raised guidance, ROE >20% & rising, new product lines scaling fast. Mgmt tone = confident & offensive.
Risks: Pricing/market pressure, catastrophe exposure (in guidance), recent analyst downgrades = short-term headwind.
Exit: Target
$180 near term, but
$200–300 LT is realistic if growth continues.
