BlackRock Inc. increased its holdings in shares of Palomar Holdings, Inc. (NASDAQ:PLMR – Get Rating) by 5.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 3,785,943 shares of the company’s stock after purchasing an additional 182,164 shares during the period. BlackRock Inc. owned 15.01% of Palomar worth $316,959,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of PLMR. Driehaus Capital Management LLC bought a new position in Palomar during the second quarter worth about $16,239,000. Redwood Investments LLC bought a new position in Palomar during the third quarter worth about $6,933,000. Goldman Sachs Group Inc. grew its holdings in Palomar by 322.8% during the first quarter. Goldman Sachs Group Inc. now owns 88,038 shares of the company’s stock worth $5,634,000 after purchasing an additional 67,213 shares during the period. Lisanti Capital Growth LLC bought a new position in Palomar during the third quarter worth about $4,373,000. Finally, Dimensional Fund Advisors LP grew its holdings in Palomar by 17.6% during the third quarter. Dimensional Fund Advisors LP now owns 259,249 shares of the company’s stock worth $21,707,000 after purchasing an additional 38,798 shares during the period. Institutional investors own 90.30% of the company’s stock.
Insider Activity
In other news, President Jon Christianson sold 4,000 shares of Palomar stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $60.00, for a total value of $240,000.00. Following the completion of the sale, the president now directly owns 82,249 shares in the company, valued at $4,934,940. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.40% of the stock is owned by company insiders.
Analyst Ratings Changes
Palomar Trading Down 6.2 %
NASDAQ PLMR opened at $55.45 on Friday. Palomar Holdings, Inc. has a 1-year low of $43.63 and a 1-year high of $95.20. The company has a 50 day moving average of $53.31 and a 200-day moving average of $65.83. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 27.32 and a beta of 0.06.
Palomar (NASDAQ:PLMR – Get Rating) last released its quarterly earnings results on Wednesday, February 15th. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Palomar had a net margin of 15.95% and a return on equity of 17.13%. The company had revenue of $83.37 million during the quarter, compared to the consensus estimate of $86.32 million. During the same period in the previous year, the business earned $0.74 earnings per share. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. On average, equities research analysts forecast that Palomar Holdings, Inc. will post 3.25 earnings per share for the current year.
Palomar Profile
Palomar Holdings, Inc operates as an insurance holding company. The firm focuses on the residential and commercial earthquake markets in earthquake-exposed states such as California, Oregon, Washington and states with exposure to the New Madrid Seismic Zone. It offers property and casualty insurance.
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