Oppenheimer Asset Management Inc. Has $328,000 Stake in Palomar Holdings, Inc. $PLMR

Oppenheimer Asset Management Inc. decreased its stake in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 49.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,129 shares of the company’s stock after selling 2,093 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Palomar were worth $328,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Cookson Peirce & Co. Inc. grew its position in shares of Palomar by 8.1% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 8,351 shares of the company’s stock worth $1,288,000 after buying an additional 624 shares during the period. DekaBank Deutsche Girozentrale grew its position in Palomar by 152.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,779 shares of the company’s stock valued at $274,000 after purchasing an additional 1,073 shares during the period. New York State Teachers Retirement System grew its holdings in shares of Palomar by 1.0% during the second quarter. New York State Teachers Retirement System now owns 22,667 shares of the company’s stock valued at $3,496,000 after buying an additional 225 shares during the last quarter. TD Asset Management Inc acquired a new position in shares of Palomar during the second quarter valued at about $1,000,000. Finally, Axxcess Wealth Management LLC acquired a new position in shares of Palomar during the second quarter valued at about $1,300,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wall Street Analyst Weigh In

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

Palomar Price Performance

PLMR opened at $114.01 on Monday. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of 20.04 and a beta of 0.30. The firm’s fifty day moving average price is $117.28 and its two-hundred day moving average price is $136.51. Palomar Holdings, Inc. has a 1 year low of $85.00 and a 1 year 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 (EPS) for the quarter. The firm had revenue of $65.74 million for the quarter. Palomar had a net margin of 22.71% and a return on equity of 20.35%. As a group, equities analysts anticipate that Palomar Holdings, Inc. will post 5.99 EPS for the current year.

Insider Buying and Selling

In other Palomar news, President Jon Christianson sold 521 shares of Palomar stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $120.13, for a total value of $62,587.73. Following the sale, the president owned 59,036 shares of the company’s stock, valued at approximately $7,091,994.68. The trade was a 0.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard H. Taketa acquired 500 shares of the stock in a transaction on Monday, August 18th. The stock was bought at an average cost of $121.14 per share, for a total transaction of $60,570.00. Following the transaction, the director owned 44,226 shares of the company’s stock, valued at approximately $5,357,537.64. This trade represents a 1.14% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 20,302 shares of company stock worth $2,414,141 in the last ninety days. Corporate insiders own 3.70% 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.