KBC Group NV Has $156,000 Position in Palomar Holdings, Inc. (NASDAQ:PLMR)

KBC Group NV grew its stake in Palomar Holdings, Inc. (NASDAQ:PLMR) by 9.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,140 shares of the company’s stock after purchasing an additional 95 shares during the period. KBC Group NV’s holdings in Palomar were worth $156,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PLMR. Smartleaf Asset Management LLC raised its holdings in Palomar by 536.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 414 shares of the company’s stock valued at $43,000 after buying an additional 349 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in Palomar in the 1st quarter valued at approximately $46,000. Jones Financial Companies Lllp raised its holdings in Palomar by 63.2% in the 4th quarter. Jones Financial Companies Lllp now owns 493 shares of the company’s stock valued at $52,000 after buying an additional 191 shares during the last quarter. NBC Securities Inc. bought a new position in Palomar in the 1st quarter valued at approximately $53,000. Finally, USA Financial Formulas bought a new position in Palomar in the 1st quarter valued at approximately $55,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Palomar Stock Up 1.7%

NASDAQ:PLMR opened at $146.10 on Monday. The company has a fifty day moving average of $158.02 and a 200-day moving average of $135.11. The firm has a market capitalization of $3.91 billion, a P/E ratio of 29.16 and a beta of 0.46. Palomar Holdings, Inc. has a twelve month low of $79.82 and a twelve month high of $175.85.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Monday, May 5th. The company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.26. The company had revenue of $174.63 million during the quarter, compared to analyst estimates of $161.97 million. Palomar had a net margin of 21.99% and a return on equity of 20.56%. During the same quarter in the previous year, the business posted $1.09 EPS. On average, analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PLMR. Truist Financial raised their price objective on shares of Palomar from $150.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 15th. Piper Sandler raised their price target on shares of Palomar from $171.00 to $177.00 and gave the stock an “overweight” rating in a report on Friday, May 30th. JPMorgan Chase & Co. upgraded shares of Palomar from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $115.00 to $150.00 in a report on Tuesday, April 8th. Wall Street Zen lowered shares of Palomar from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Evercore ISI raised their price target on shares of Palomar from $163.00 to $168.00 and gave the stock an “in-line” rating in a report on Friday, May 30th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Palomar presently has an average rating of “Moderate Buy” and a consensus target price of $174.17.

Insider Activity

In related news, CEO Mac Armstrong sold 5,000 shares of Palomar stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $158.14, for a total value of $790,700.00. Following the completion of the sale, the chief executive officer owned 387,388 shares of the company’s stock, valued at approximately $61,261,538.32. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO T Christopher Uchida sold 500 shares of Palomar stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $158.69, for a total transaction of $79,345.00. Following the completion of the sale, the chief financial officer directly owned 7,420 shares of the company’s stock, valued at approximately $1,177,479.80. The trade was a 6.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,175 shares of company stock worth $3,420,251 in the last quarter. 3.70% of the stock is owned by corporate insiders.

Palomar Profile

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.