Texas Permanent School Fund Has $1.55 Million Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Texas Permanent School Fund lessened its stake in Palomar Holdings, Inc. (NASDAQ:PLMR) by 13.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,417 shares of the company’s stock after selling 2,800 shares during the quarter. Texas Permanent School Fund owned about 0.07% of Palomar worth $1,547,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Group One Trading L.P. acquired a new position in shares of Palomar in the 3rd quarter valued at approximately $79,000. Meeder Asset Management Inc. raised its position in Palomar by 26,240.0% during the third quarter. Meeder Asset Management Inc. now owns 1,317 shares of the company’s stock valued at $138,000 after purchasing an additional 1,312 shares in the last quarter. Contravisory Investment Management Inc. acquired a new position in Palomar during the fourth quarter valued at approximately $121,000. US Bancorp DE raised its position in Palomar by 8.2% during the third quarter. US Bancorp DE now owns 1,473 shares of the company’s stock valued at $154,000 after purchasing an additional 112 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Palomar by 41.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,709 shares of the company’s stock valued at $178,000 after purchasing an additional 498 shares in the last quarter. 90.70% of the stock is owned by institutional investors and hedge funds.

PLMR has been the subject of a number of research analyst reports. Piper Sandler cut Palomar from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $110.00 to $95.00 in a report on Thursday, November 12th. Barclays boosted their target price on Palomar from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $100.17.

In other news, President Heath A. Fisher sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 17th. The stock was sold at an average price of $102.16, for a total value of $664,040.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard H. Taketa purchased 750 shares of the firm’s stock in a transaction on Thursday, December 3rd. The stock was acquired at an average price of $67.00 per share, with a total value of $50,250.00. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 87,100 shares of company stock valued at $8,384,745. Insiders own 7.70% of the company’s stock.

Shares of NASDAQ:PLMR opened at $92.00 on Tuesday. The company has a fifty day moving average of $101.64 and a 200-day moving average of $94.13. The company has a market capitalization of $2.35 billion, a PE ratio of 116.46 and a beta of -0.13. Palomar Holdings, Inc. has a 52-week low of $39.21 and a 52-week high of $121.87.

Palomar Company Profile

Palomar Holdings, Inc provides specialty property insurance. It offers personal and commercial specialty property insurance products, including residential and commercial earthquake, specialty homeowners, commercial all-risk, Hawaii hurricane, residential flood, inland marine, assumed reinsurance, and real estate investor.

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Institutional Ownership by Quarter for Palomar (NASDAQ:PLMR)

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