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New York State Common Retirement Fund Sells 3,570 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

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New York State Common Retirement Fund cut its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR) by 16.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,703 shares of the company’s stock after selling 3,570 shares during the quarter. New York State Common Retirement Fund owned approximately 0.07% of Palomar worth $1,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of PLMR. Russell Investments Group Ltd. boosted its position in Palomar by 79.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 14,272 shares of the company’s stock valued at $1,076,000 after acquiring an additional 6,321 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Palomar by 31.1% during the second quarter. Swiss National Bank now owns 53,500 shares of the company’s stock valued at $4,037,000 after purchasing an additional 12,700 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Palomar by 22.7% during the second quarter. Sei Investments Co. now owns 28,821 shares of the company’s stock valued at $2,163,000 after purchasing an additional 5,340 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of Palomar by 6.7% during the second quarter. Mutual of America Capital Management LLC now owns 3,093 shares of the company’s stock valued at $233,000 after purchasing an additional 195 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of Palomar by 13.7% during the second quarter. State Board of Administration of Florida Retirement System now owns 9,482 shares of the company’s stock valued at $716,000 after purchasing an additional 1,143 shares during the last quarter. 88.32% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:PLMR opened at $53.83 on Friday. Palomar Holdings, Inc. has a 12 month low of $53.58 and a 12 month high of $115.40. The company has a market cap of $1.37 billion, a PE ratio of 51.76 and a beta of -0.06. The company has a 50 day simple moving average of $71.34 and a two-hundred day simple moving average of $78.64.

Palomar (NASDAQ:PLMR) last issued its earnings results on Wednesday, November 3rd. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.13). The firm had revenue of $67.97 million during the quarter, compared to the consensus estimate of $64.71 million. Palomar had a return on equity of 8.82% and a net margin of 12.62%. During the same period in the prior year, the company posted ($0.62) EPS. As a group, equities analysts predict that Palomar Holdings, Inc. will post 1.97 earnings per share for the current year.

In other news, President Heath A. Fisher sold 7,500 shares of the company’s stock in a transaction dated Wednesday, October 20th. The shares were sold at an average price of $80.76, for a total transaction of $605,700.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jon Christianson sold 1,500 shares of the company’s stock in a transaction dated Wednesday, January 5th. The shares were sold at an average price of $60.42, for a total transaction of $90,630.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,500 shares of company stock worth $3,143,620. Corporate insiders own 6.40% of the company’s stock.

Several research firms have recently issued reports on PLMR. Barclays lowered their target price on shares of Palomar from $110.00 to $93.00 and set an “overweight” rating for the company in a report on Thursday, January 6th. JMP Securities upgraded shares of Palomar from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a report on Wednesday, December 15th. Zacks Investment Research upgraded shares of Palomar from a “sell” rating to a “hold” rating and set a $70.00 price objective for the company in a report on Tuesday, December 7th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Palomar from $95.00 to $87.00 and set an “overweight” rating for the company in a report on Thursday, January 6th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Palomar presently has a consensus rating of “Buy” and a consensus price target of $82.60.

Palomar Company Profile

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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