Thrivent Financial for Lutherans Has $3.11 Million Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Thrivent Financial for Lutherans raised its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) by 58.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,837 shares of the company's stock after purchasing an additional 12,147 shares during the period. Thrivent Financial for Lutherans owned 0.13% of Palomar worth $3,109,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Palomar during the 3rd quarter worth about $25,000. GAMMA Investing LLC lifted its holdings in shares of Palomar by 48.6% during the third quarter. GAMMA Investing LLC now owns 382 shares of the company's stock worth $36,000 after buying an additional 125 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Palomar by 490.9% in the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company's stock valued at $43,000 after acquiring an additional 378 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Palomar in the second quarter worth $49,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Palomar during the first quarter worth $59,000. Institutional investors own 90.25% of the company's stock.

Analysts Set New Price Targets

PLMR has been the subject of a number of research reports. Piper Sandler increased their price target on shares of Palomar from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Keefe, Bruyette & Woods lifted their target price on Palomar from $117.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Jefferies Financial Group raised their price objective on Palomar from $110.00 to $113.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Evercore ISI boosted their price objective on Palomar from $90.00 to $99.00 and gave the company an "in-line" rating in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. raised their target price on Palomar from $93.00 to $100.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Three 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, Palomar has a consensus rating of "Moderate Buy" and an average price target of $109.00.

Insider Activity

In other Palomar news, President Jon Christianson sold 2,195 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $104.10, for a total value of $228,499.50. Following the completion of the sale, the president now owns 51,926 shares in the company, valued at approximately $5,405,496.60. This trade represents a 4.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO T Christopher Uchida sold 1,030 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $97.65, for a total transaction of $100,579.50. Following the transaction, the chief financial officer now owns 17,543 shares in the company, valued at $1,713,073.95. The trade was a 5.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,326 shares of company stock worth $3,632,779. Insiders own 4.30% of the company's stock.

Palomar Stock Down 0.2 %

NASDAQ:PLMR traded down $0.23 during trading hours on Tuesday, reaching $108.80. The company had a trading volume of 218,083 shares, compared to its average volume of 163,830. The firm has a market capitalization of $2.88 billion, a PE ratio of 25.79 and a beta of 0.34. The stock has a 50-day moving average of $97.48 and a two-hundred day moving average of $91.37. Palomar Holdings, Inc. has a one year low of $54.50 and a one year high of $110.98.

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

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.