Oak Ridge Investments LLC Sells 846 Shares of Palomar Holdings, Inc. (NASDAQ:PLMR)

Oak Ridge Investments LLC lowered its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 1.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 59,028 shares of the company’s stock after selling 846 shares during the quarter. Oak Ridge Investments LLC’s holdings in Palomar were worth $3,957,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Voloridge Investment Management LLC lifted its stake in Palomar by 37.1% during the 4th quarter. Voloridge Investment Management LLC now owns 29,905 shares of the company’s stock valued at $2,657,000 after acquiring an additional 8,087 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Palomar by 2.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 8,914 shares of the company’s stock valued at $598,000 after purchasing an additional 200 shares during the last quarter. BP PLC increased its position in shares of Palomar by 182.4% during the 4th quarter. BP PLC now owns 255,849 shares of the company’s stock valued at $22,730,000 after purchasing an additional 165,253 shares during the last quarter. Rhumbline Advisers increased its position in shares of Palomar by 3.6% during the 4th quarter. Rhumbline Advisers now owns 57,360 shares of the company’s stock valued at $5,096,000 after purchasing an additional 1,988 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Palomar by 26.3% during the 4th quarter. Bank of New York Mellon Corp now owns 689,525 shares of the company’s stock valued at $61,257,000 after purchasing an additional 143,584 shares during the last quarter. Institutional investors and hedge funds own 89.28% of the company’s stock.

In other Palomar news, CFO T Christopher Uchida sold 600 shares of the company’s stock in a transaction that occurred on Monday, March 22nd. The stock was sold at an average price of $70.18, for a total value of $42,108.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Heath A. Fisher sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 19th. The stock was sold at an average price of $64.92, for a total value of $421,980.00. The disclosure for this sale can be found here. Insiders sold a total of 45,300 shares of company stock valued at $3,139,740 over the last three months. 6.40% of the stock is currently owned by insiders.

Palomar stock opened at $75.34 on Friday. The business has a 50 day moving average price of $70.62. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 179.39 and a beta of -0.29. Palomar Holdings, Inc. has a 12-month low of $61.01 and a 12-month high of $121.87.

Palomar (NASDAQ:PLMR) last released its earnings results on Wednesday, May 5th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.22. The company had revenue of $49.98 million during the quarter, compared to analyst estimates of $51.11 million. Palomar had a net margin of 6.26% and a return on equity of 4.16%. On average, sell-side analysts expect that Palomar Holdings, Inc. will post 2.42 EPS for the current fiscal year.

Several research firms have recently commented on PLMR. Barclays raised shares of Palomar from an “equal weight” rating to an “overweight” rating and set a $94.00 price target for the company in a research report on Friday, March 26th. JMP Securities reduced their price target on shares of Palomar from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, April 16th. Finally, Zacks Investment Research raised shares of Palomar from a “sell” rating to a “hold” rating and set a $74.00 price target for the company in a research report on Wednesday, March 17th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Palomar has a consensus rating of “Buy” and a consensus target price of $99.17.

Palomar Profile

Palomar Holdings, Inc, an insurance holding company, provides specialty property insurance to residential and commercial customers. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance, commercial flood, real estate error and omission, and real estate investor products.

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Institutional Ownership by Quarter for Palomar (NASDAQ:PLMR)

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