KBC Group NV Acquires 324 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

KBC Group NV grew its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 44.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,045 shares of the company’s stock after acquiring an additional 324 shares during the quarter. KBC Group NV’s holdings in Palomar were worth $110,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PLMR. State Street Corp increased its position in Palomar by 3.0% during the 3rd quarter. State Street Corp now owns 1,097,702 shares of the company’s stock worth $103,919,000 after purchasing an additional 32,151 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Palomar by 3.2% during the third quarter. Geode Capital Management LLC now owns 600,092 shares of the company’s stock worth $56,822,000 after buying an additional 18,335 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Palomar by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 128,165 shares of the company’s stock valued at $12,133,000 after acquiring an additional 11,140 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Palomar by 58.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 32,837 shares of the company’s stock valued at $3,109,000 after acquiring an additional 12,147 shares in the last quarter. Finally, HighTower Advisors LLC bought a new stake in Palomar during the 3rd quarter worth $1,711,000. Institutional investors own 90.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Keefe, Bruyette & Woods increased their target price on Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Piper Sandler raised their price objective on shares of Palomar from $119.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Palomar currently has an average rating of “Moderate Buy” and an average target price of $115.50.

Palomar Price Performance

NASDAQ PLMR opened at $109.92 on Friday. The stock has a market capitalization of $2.91 billion, a P/E ratio of 26.11 and a beta of 0.38. The business has a 50 day simple moving average of $106.91 and a 200 day simple moving average of $99.90. Palomar Holdings, Inc. has a one year low of $58.77 and a one year high of $112.90.

Insider Activity

In other news, CEO Mac Armstrong sold 7,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $103.04, for a total transaction of $721,280.00. Following the completion of the sale, the chief executive officer now directly owns 419,388 shares of the company’s stock, valued at $43,213,739.52. The trade was a 1.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jonathan Knutzen sold 282 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $104.46, for a total value of $29,457.72. Following the completion of the sale, the insider now directly owns 20,098 shares of the company’s stock, valued at approximately $2,099,437.08. This trade represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,239 shares of company stock worth $4,374,199 in the last quarter. 4.30% 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.