Thrivent Financial for Lutherans Sells 214 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Thrivent Financial for Lutherans cut its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR – Get Rating) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,883 shares of the company’s stock after selling 214 shares during the period. Thrivent Financial for Lutherans owned 0.10% of Palomar worth $1,169,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLMR. UBS Group AG boosted its stake in shares of Palomar by 7,440.0% during the third quarter. UBS Group AG now owns 377 shares of the company’s stock valued at $32,000 after purchasing an additional 372 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Palomar in the first quarter valued at approximately $55,000. Advisor Group Holdings Inc. boosted its stake in Palomar by 34.1% in the first quarter. Advisor Group Holdings Inc. now owns 1,470 shares of the company’s stock valued at $94,000 after acquiring an additional 374 shares in the last quarter. Convergence Investment Partners LLC acquired a new stake in Palomar in the third quarter valued at approximately $129,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Palomar by 65.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,870 shares of the company’s stock valued at $130,000 after acquiring an additional 1,135 shares in the last quarter. 90.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Palomar news, CFO T Christopher Uchida sold 1,000 shares of Palomar stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $55.00, for a total value of $55,000.00. Following the completion of the transaction, the chief financial officer now owns 25,108 shares of the company’s stock, valued at $1,380,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Palomar news, CFO T Christopher Uchida sold 1,000 shares of Palomar stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $55.00, for a total value of $55,000.00. Following the completion of the transaction, the chief financial officer now owns 25,108 shares of the company’s stock, valued at $1,380,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Jon Christianson sold 4,000 shares of Palomar stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $60.00, for a total transaction of $240,000.00. Following the completion of the transaction, the president now directly owns 82,249 shares of the company’s stock, valued at approximately $4,934,940. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of Palomar from a “market perform” rating to an “outperform” rating and raised their target price for the company from $59.00 to $64.00 in a research note on Monday, May 15th. Jefferies Financial Group raised their target price on shares of Palomar from $54.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, April 10th. JPMorgan Chase & Co. decreased their price target on shares of Palomar from $75.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, March 31st. Barclays raised their price target on shares of Palomar from $59.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, April 5th. Finally, Evercore ISI raised their price target on shares of Palomar from $52.00 to $57.00 and gave the stock an “in-line” rating in a report on Thursday, April 13th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.43.

Palomar Price Performance

Shares of Palomar stock opened at $53.05 on Tuesday. The firm has a fifty day moving average price of $52.42 and a 200 day moving average price of $54.02. Palomar Holdings, Inc. has a 1 year low of $43.63 and a 1 year high of $95.20. The stock has a market cap of $1.32 billion, a PE ratio of 24.67 and a beta of 0.04.

Palomar (NASDAQ:PLMR – Get Rating) last issued its earnings results on Wednesday, May 3rd. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.02. Palomar had a net margin of 16.25% and a return on equity of 17.61%. The firm had revenue of $83.94 million during the quarter, compared to analysts’ expectations of $88.35 million. During the same quarter last year, the company posted $0.68 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. As a group, equities analysts expect that Palomar Holdings, Inc. will post 3.26 EPS for the current year.

Palomar Profile

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Palomar Holdings, Inc operates as an insurance holding company. The firm focuses on the residential and commercial earthquake markets in earthquake-exposed states such as California, Oregon, Washington and states with exposure to the New Madrid Seismic Zone. It offers property and casualty insurance.