Thrivent Financial for Lutherans Sells 3,633 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Thrivent Financial for Lutherans reduced its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 11.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,204 shares of the company's stock after selling 3,633 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.11% of Palomar worth $3,084,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp boosted its stake in Palomar by 3.0% in the third quarter. State Street Corp now owns 1,097,702 shares of the company's stock worth $103,919,000 after purchasing an additional 32,151 shares in the last quarter. Geode Capital Management LLC lifted its position in Palomar by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 600,092 shares of the company's stock worth $56,822,000 after buying an additional 18,335 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Palomar by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company's stock worth $12,133,000 after acquiring an additional 11,140 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of Palomar in the third quarter worth about $1,711,000. Finally, Principal Financial Group Inc. grew its stake in shares of Palomar by 5.6% during the fourth quarter. Principal Financial Group Inc. now owns 147,540 shares of the company's stock valued at $15,579,000 after purchasing an additional 7,875 shares during the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

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Insider Activity at Palomar

In related news, CEO Mac Armstrong sold 4,170 shares of the firm's stock in a transaction on Wednesday, January 1st. The shares were sold at an average price of $105.86, for a total value of $441,436.20. Following the completion of the transaction, the chief executive officer now directly owns 56,936 shares of the company's stock, valued at approximately $6,027,244.96. This trade represents a 6.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO T Christopher Uchida sold 394 shares of the business's stock in a transaction on Sunday, January 26th. The stock was sold at an average price of $101.69, for a total transaction of $40,065.86. Following the transaction, the chief financial officer now owns 16,943 shares in the company, valued at approximately $1,722,933.67. The trade was a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,455 shares of company stock valued at $3,911,340. Insiders own 4.30% of the company's stock.

Palomar Stock Performance

PLMR stock traded up $0.17 during mid-day trading on Friday, hitting $136.77. 191,182 shares of the company were exchanged, compared to its average volume of 170,637. The firm has a market cap of $3.65 billion, a P/E ratio of 30.53 and a beta of 0.33. Palomar Holdings, Inc. has a 1-year low of $74.09 and a 1-year high of $138.69. The firm's 50 day simple moving average is $120.94 and its 200 day simple moving average is $108.23.

Palomar (NASDAQ:PLMR - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $0.13. Palomar had a net margin of 21.23% and a return on equity of 19.76%. On average, equities research analysts predict that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PLMR. JMP Securities reaffirmed a "market perform" rating on shares of Palomar in a research note on Thursday, February 13th. Piper Sandler increased their price target on Palomar from $133.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Truist Financial raised their price target on Palomar from $112.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Finally, Keefe, Bruyette & Woods upped their price objective on Palomar from $152.00 to $155.00 and gave the company an "outperform" rating in a report on Friday, March 21st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Palomar presently has a consensus rating of "Moderate Buy" and an average price target of $127.83.

Palomar 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.