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

KBC Group NV raised its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR) by 44.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,045 shares of the company’s stock after acquiring an additional 324 shares during the period. KBC Group NV’s holdings in Palomar were worth $110,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Point72 Asset Management L.P. acquired a new position in shares of Palomar in the 3rd quarter valued at approximately $10,994,000. Soros Fund Management LLC acquired a new position in shares of Palomar in the third quarter valued at approximately $9,467,000. Westfield Capital Management Co. LP increased its position in shares of Palomar by 24.5% during the third quarter. Westfield Capital Management Co. LP now owns 394,408 shares of the company’s stock worth $37,339,000 after acquiring an additional 77,552 shares in the last quarter. Artemis Investment Management LLP raised its holdings in shares of Palomar by 18.7% during the fourth quarter. Artemis Investment Management LLP now owns 455,082 shares of the company’s stock worth $48,052,000 after acquiring an additional 71,806 shares during the period. Finally, International Assets Investment Management LLC lifted its position in Palomar by 9,367.0% in the 3rd quarter. International Assets Investment Management LLC now owns 57,654 shares of the company’s stock valued at $5,458,000 after acquiring an additional 57,045 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors.

Palomar Trading Down 0.7 %

NASDAQ PLMR opened at $109.92 on Friday. The firm has a market capitalization of $2.91 billion, a P/E ratio of 26.11 and a beta of 0.38. The firm’s fifty day moving average price is $106.91 and its two-hundred day moving average price is $99.90. Palomar Holdings, Inc. has a 1 year low of $58.77 and a 1 year high of $112.90.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, CFO T Christopher Uchida sold 1,030 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $110.85, for a total value of $114,175.50. Following the transaction, the chief financial officer now owns 15,994 shares of the company’s stock, valued at approximately $1,772,934.90. This represents a 6.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan Knutzen sold 282 shares of Palomar 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 sale, the insider now directly owns 20,098 shares of the company’s stock, valued at approximately $2,099,437.08. The trade was a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,239 shares of company stock worth $4,374,199. Company insiders own 4.30% of the company’s stock.

Palomar Company 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.