Mutual of America Capital Management LLC boosted its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 6.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,093 shares of the company’s stock after purchasing an additional 195 shares during the period. Mutual of America Capital Management LLC’s holdings in Palomar were worth $233,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of PLMR. Prudent Man Advisors LLC purchased a new stake in Palomar during the second quarter valued at approximately $220,000. AlphaCore Capital LLC purchased a new stake in shares of Palomar in the second quarter worth $251,000. FORA Capital LLC purchased a new stake in shares of Palomar in the first quarter worth $292,000. AlphaCrest Capital Management LLC purchased a new stake in shares of Palomar in the first quarter worth $315,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Palomar in the first quarter worth $319,000. Institutional investors own 89.82% of the company’s stock.
Separately, Piper Sandler increased their price objective on shares of Palomar from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, July 9th.
Palomar (NASDAQ:PLMR) last posted its earnings results on Wednesday, August 4th. The company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.03. The company had revenue of $57.72 million during the quarter, compared to analysts’ expectations of $53.72 million. Palomar had a net margin of 5.95% and a return on equity of 4.20%. Palomar’s quarterly revenue was up 33.8% on a year-over-year basis. During the same period last year, the company posted $0.52 earnings per share. On average, sell-side analysts expect that Palomar Holdings, Inc. will post 2.42 earnings per share for the current fiscal year.
In other Palomar news, insider Jon Christianson sold 1,500 shares of the stock in a transaction on Wednesday, September 8th. The shares were sold at an average price of $87.17, for a total transaction of $130,755.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO T Christopher Uchida sold 2,100 shares of the stock in a transaction on Wednesday, June 30th. The shares were sold at an average price of $75.57, for a total transaction of $158,697.00. The disclosure for this sale can be found here. Insiders have sold 28,300 shares of company stock valued at $2,245,682 over the last ninety days. 6.40% of the stock is currently owned by corporate insiders.
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.
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