Mutual of America Capital Management LLC Sells 159 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Mutual of America Capital Management LLC trimmed its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 3.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,938 shares of the company’s stock after selling 159 shares during the period. Mutual of America Capital Management LLC’s holdings in Palomar were worth $373,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in Palomar by 48.6% in the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after acquiring an additional 125 shares during the last quarter. Arizona State Retirement System grew its holdings in Palomar by 2.4% during the second quarter. Arizona State Retirement System now owns 6,961 shares of the company’s stock valued at $565,000 after purchasing an additional 164 shares during the period. Covestor Ltd raised its stake in shares of Palomar by 20.2% in the third quarter. Covestor Ltd now owns 1,076 shares of the company’s stock valued at $102,000 after buying an additional 181 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Palomar by 1.6% during the 3rd quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the company’s stock valued at $1,202,000 after buying an additional 200 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Palomar by 15.7% during the 2nd quarter. CWM LLC now owns 1,601 shares of the company’s stock worth $130,000 after acquiring an additional 217 shares during the period. 90.25% of the stock is owned by hedge funds and other institutional investors.

Palomar Stock Down 0.3 %

NASDAQ:PLMR opened at $108.44 on Thursday. Palomar Holdings, Inc. has a twelve month low of $54.50 and a twelve month high of $111.27. The stock has a market cap of $2.87 billion, a P/E ratio of 25.76 and a beta of 0.34. The business’s 50-day moving average price is $97.93 and its two-hundred day moving average price is $91.66.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.20. Palomar had a net margin of 21.55% and a return on equity of 19.65%. The firm had revenue of $148.50 million for the quarter, compared to analyst estimates of $134.72 million. During the same quarter in the prior year, the firm earned $0.80 EPS. On average, equities research analysts expect that Palomar Holdings, Inc. will post 4.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other Palomar news, CEO Mac Armstrong sold 7,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.49, for a total transaction of $668,430.00. Following the completion of the sale, the chief executive officer now directly owns 440,388 shares in the company, valued at $42,052,650.12. This represents a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Jon Christianson sold 10,000 shares of Palomar stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $94.40, for a total value of $944,000.00. Following the completion of the transaction, the president now owns 51,926 shares in the company, valued at approximately $4,901,814.40. This represents a 16.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,326 shares of company stock valued at $3,632,779 over the last 90 days. Insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

PLMR has been the topic of several recent research reports. Keefe, Bruyette & Woods upped their price objective on shares of Palomar from $117.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. boosted their target price on shares of Palomar from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Evercore ISI raised their price target on Palomar from $90.00 to $99.00 and gave the stock an “in-line” rating in a report on Tuesday, August 6th. Piper Sandler boosted their price objective on Palomar from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, Jefferies Financial Group raised their target price on Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $109.00.

About Palomar

Palomar Holdings, Inc, a specialty insurance company, provides property and casualty insurance to residential and businesses in the United States. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, fronting, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance.