Dynamic Technology Lab Private Ltd Boosts Holdings in Palomar Holdings, Inc. $PLMR

Dynamic Technology Lab Private Ltd boosted its holdings in Palomar Holdings, Inc. (NASDAQ:PLMR) by 175.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,305 shares of the company’s stock after purchasing an additional 4,015 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Palomar were worth $973,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CWM LLC lifted its holdings in shares of Palomar by 20.2% in the first quarter. CWM LLC now owns 1,522 shares of the company’s stock worth $209,000 after buying an additional 256 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Palomar by 29.2% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 69,178 shares of the company’s stock valued at $9,483,000 after acquiring an additional 15,654 shares during the last quarter. Cetera Investment Advisers lifted its stake in Palomar by 12.9% in the 1st quarter. Cetera Investment Advisers now owns 7,078 shares of the company’s stock worth $970,000 after purchasing an additional 811 shares in the last quarter. Navellier & Associates Inc. bought a new position in shares of Palomar during the 1st quarter valued at about $639,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Palomar by 3.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,102 shares of the company’s stock valued at $1,111,000 after purchasing an additional 270 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on PLMR shares. Evercore ISI decreased 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. Piper Sandler reduced their price objective on Palomar from $177.00 to $151.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 6th. JPMorgan Chase & Co. increased their target price on Palomar from $137.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Keefe, Bruyette & Woods boosted their price target on shares of Palomar from $164.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Palomar in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $157.67.

Palomar Stock Performance

NASDAQ:PLMR opened at $122.81 on Friday. The firm has a market capitalization of $3.25 billion, a PE ratio of 21.58 and a beta of 0.25. The stock’s fifty day moving average is $118.11 and its 200 day moving average is $134.17. Palomar Holdings, Inc. has a fifty-two week low of $98.42 and a fifty-two week high of $175.85.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings data on Friday, December 16th. The company reported $0.07 earnings per share for the quarter. Palomar had a net margin of 22.71% and a return on equity of 20.35%. The business had revenue of $65.74 million for the quarter. Equities analysts forecast that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Insider Activity

In related news, CEO Mac Armstrong sold 5,000 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $116.02, for a total value of $580,100.00. Following the sale, the chief executive officer directly owned 372,388 shares of the company’s stock, valued at $43,204,455.76. This represents a 1.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jonathan Knutzen sold 281 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $128.84, for a total value of $36,204.04. Following the transaction, the insider owned 21,565 shares of the company’s stock, valued at $2,778,434.60. This trade represents a 1.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 14,803 shares of company stock valued at $1,734,471. 3.70% of the stock is currently owned by company 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.