Texas Permanent School Fund Corp Has $10.55 Million Position in Palomar Holdings, Inc. $PLMR

by · The Cerbat Gem

Texas Permanent School Fund Corp increased its stake in Palomar Holdings, Inc. (NASDAQ:PLMR – Free Report) by 252.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 68,408 shares of the company’s stock after acquiring an additional 49,015 shares during the period. Texas Permanent School Fund Corp’s holdings in Palomar were worth $10,552,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Osaic Holdings Inc. increased its stake in shares of Palomar by 93.7% in the 2nd quarter. Osaic Holdings Inc. now owns 19,370 shares of the company’s stock valued at $2,933,000 after buying an additional 9,371 shares during the period. Orion Porfolio Solutions LLC lifted its stake in shares of Palomar by 55.3% during the second quarter. Orion Porfolio Solutions LLC now owns 9,826 shares of the company’s stock valued at $1,516,000 after acquiring an additional 3,500 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Palomar by 0.6% in the second quarter. Thrivent Financial for Lutherans now owns 28,411 shares of the company’s stock valued at $4,382,000 after acquiring an additional 178 shares during the last quarter. Hollencrest Capital Management increased its position in Palomar by 56.5% in the second quarter. Hollencrest Capital Management now owns 313 shares of the company’s stock worth $48,000 after purchasing an additional 113 shares during the period. Finally, Public Sector Pension Investment Board raised its holdings in Palomar by 8.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 91,179 shares of the company’s stock worth $14,064,000 after purchasing an additional 7,010 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Palomar from $164.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Palomar in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on shares of Palomar from $137.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Wall Street Zen raised Palomar from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Finally, Evercore ISI reduced their price target on Palomar from $168.00 to $134.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 1st. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $157.67.

View Our Latest Analysis on Palomar

Insiders Place Their Bets

In related news, CFO T Christopher Uchida sold 782 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $128.84, for a total value of $100,752.88. Following the completion of the transaction, the chief financial officer directly owned 7,916 shares in the company, valued at approximately $1,019,897.44. The trade was a 8.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mac Armstrong sold 5,000 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $116.02, for a total value of $580,100.00. Following the sale, the chief executive officer directly owned 372,388 shares of the company’s stock, valued at approximately $43,204,455.76. The trade was a 1.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 19,803 shares of company stock valued at $2,348,771 in the last three months. Insiders own 3.70% of the company’s stock.

Palomar Stock Performance

Shares of NASDAQ:PLMR opened at $125.52 on Tuesday. The company has a 50 day moving average price of $120.18 and a two-hundred day moving average price of $129.51. The company has a market capitalization of $3.33 billion, a PE ratio of 19.58 and a beta of 0.50. Palomar Holdings, Inc. has a 52 week low of $98.42 and a 52 week high of $175.85.

Palomar (NASDAQ:PLMR – Get Free Report) last announced its quarterly earnings results on Friday, December 16th. The company reported $0.07 earnings per share for the quarter. Palomar had a net margin of 22.59% and a return on equity of 21.93%. The company had revenue of $65.74 million for the quarter. On average, sell-side analysts forecast that Palomar Holdings, Inc. will post 5.99 earnings per share for the current year.

Palomar Company Profile

(Free Report)

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.

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