5,253 Shares in Palomar Holdings, Inc. $PLMR Acquired by Bryce Point Capital LLC

Bryce Point Capital LLC purchased a new position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 5,253 shares of the company’s stock, valued at approximately $810,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its position in Palomar by 3.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,461 shares of the company’s stock worth $363,000 after acquiring an additional 90 shares in the last quarter. KBC Group NV lifted its position in Palomar by 9.1% during the 1st quarter. KBC Group NV now owns 1,140 shares of the company’s stock worth $156,000 after acquiring an additional 95 shares in the last quarter. Bank of Montreal Can lifted its position in Palomar by 1.7% during the 2nd quarter. Bank of Montreal Can now owns 5,766 shares of the company’s stock worth $889,000 after acquiring an additional 98 shares in the last quarter. Hohimer Wealth Management LLC lifted its position in Palomar by 3.9% during the 1st quarter. Hohimer Wealth Management LLC now owns 2,617 shares of the company’s stock worth $359,000 after acquiring an additional 99 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Palomar by 14.4% during the 2nd quarter. GAMMA Investing LLC now owns 833 shares of the company’s stock worth $128,000 after acquiring an additional 105 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Mac Armstrong sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $115.31, for a total value of $576,550.00. Following the completion of the sale, the chief executive officer directly owned 367,388 shares in the company, valued at approximately $42,363,510.28. The trade was a 1.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathan Knutzen sold 281 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $120.13, for a total value of $33,756.53. Following the completion of the sale, the insider owned 21,210 shares of the company’s stock, valued at $2,547,957.30. This trade represents a 1.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 20,302 shares of company stock worth $2,414,141. Corporate insiders own 3.70% of the company’s stock.

Palomar Stock Down 0.3%

Shares of PLMR opened at $113.72 on Tuesday. Palomar Holdings, Inc. has a 52-week low of $85.00 and a 52-week high of $175.85. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 19.99 and a beta of 0.30. The business’s 50 day moving average is $117.11 and its two-hundred day moving average is $136.26.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Friday, December 16th. The company reported $0.07 earnings per share for the quarter. Palomar had a return on equity of 20.35% and a net margin of 22.71%.The business had revenue of $65.74 million during the quarter. On average, equities analysts expect that Palomar Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PLMR has been the topic of several recent research reports. Keefe, Bruyette & Woods reduced their price target on Palomar from $204.00 to $172.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Palomar in a research report on Wednesday, October 8th. Piper Sandler cut their target price on Palomar from $177.00 to $151.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 6th. Evercore ISI cut their target price on Palomar from $168.00 to $134.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. cut their target price on Palomar from $158.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, October 9th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $156.67.

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.