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

Mutual of America Capital Management LLC trimmed its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 3.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,938 shares of the company’s stock after selling 159 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Palomar were worth $373,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Palomar by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 2,403,520 shares of the company’s stock valued at $201,487,000 after purchasing an additional 40,453 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Palomar by 8.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 21,397 shares of the company’s stock valued at $1,791,000 after acquiring an additional 1,743 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Palomar by 137.1% in the first quarter. Advisors Asset Management Inc. now owns 735 shares of the company’s stock worth $62,000 after acquiring an additional 425 shares during the period. Lazard Asset Management LLC lifted its stake in Palomar by 122.2% in the first quarter. Lazard Asset Management LLC now owns 5,158 shares of the company’s stock worth $432,000 after acquiring an additional 2,837 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new stake in Palomar in the first quarter valued at $59,000. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PLMR shares. Truist Financial raised their target price on shares of Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Jefferies Financial Group raised their price objective on shares of Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price on Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods raised their target price on Palomar from $117.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Evercore ISI upped their price target on Palomar from $90.00 to $99.00 and gave the stock an “in-line” rating in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $109.00.

Insider Buying and Selling

In other Palomar news, President Jon Christianson sold 10,000 shares of Palomar stock in a transaction dated Friday, September 6th. The shares were 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 directly owns 51,926 shares of the company’s stock, valued at approximately $4,901,814.40. The trade was a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO T Christopher Uchida sold 1,111 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $104.00, for a total transaction of $115,544.00. Following the completion of the transaction, the chief financial officer now owns 16,432 shares in the company, valued at approximately $1,708,928. This represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,326 shares of company stock worth $3,632,779 in the last quarter. Corporate insiders own 4.30% of the company’s stock.

Palomar Stock Performance

PLMR stock opened at $108.44 on Thursday. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 25.76 and a beta of 0.34. The firm has a 50 day moving average price of $97.93 and a 200-day moving average price of $91.66. Palomar Holdings, Inc. has a 52-week low of $54.50 and a 52-week high of $111.27.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.20. Palomar had a return on equity of 19.65% and a net margin of 21.55%. The business had revenue of $148.50 million during the quarter, compared to analysts’ expectations of $134.72 million. During the same quarter in the previous year, the business earned $0.80 earnings per share. As a group, sell-side analysts forecast that Palomar Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

Palomar Company Profile

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.