Insider Buying: PICO Holdings (PICO) Director Acquires $56,569.50 in Stock

PICO Holdings (NASDAQ:PICO) Director Dorothy Ann Timian-Palmer bought 4,835 shares of the business’s stock in a transaction on Wednesday, April 11th. The stock was acquired at an average cost of $11.70 per share, for a total transaction of $56,569.50. Following the completion of the transaction, the director now owns 200 shares in the company, valued at $2,340. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

PICO stock opened at $12.70 on Thursday. The company has a market cap of $289.40, a P/E ratio of 39.06 and a beta of 1.24. PICO Holdings has a 12-month low of $10.60 and a 12-month high of $20.20.

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PICO (NASDAQ:PICO) last posted its quarterly earnings results on Thursday, March 1st. The financial services provider reported ($0.08) earnings per share (EPS) for the quarter. The firm had revenue of $1.24 million for the quarter. PICO had a net margin of 1.28% and a return on equity of 1.75%.

A number of brokerages have issued reports on PICO. BidaskClub raised PICO from a “sell” rating to a “hold” rating in a research report on Tuesday, April 10th. TheStreet raised PICO from a “d” rating to a “c-” rating in a research report on Monday, April 2nd.

Hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new stake in shares of PICO during the 4th quarter valued at approximately $110,000. Raymond James & Associates acquired a new stake in shares of PICO during the 4th quarter valued at approximately $131,000. MetLife Investment Advisors LLC acquired a new stake in shares of PICO during the 4th quarter valued at approximately $155,000. Clarus Wealth Advisors acquired a new stake in shares of PICO during the 4th quarter valued at approximately $208,000. Finally, Nisa Investment Advisors LLC raised its position in shares of PICO by 122.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 19,500 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 10,740 shares in the last quarter. 70.87% of the stock is currently owned by institutional investors and hedge funds.

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About PICO

PICO Holdings, Inc engages in the water resource and water storage activities in the southwestern United States. It engages in selling its water rights and storage credits in Arizona, Colorado, Nevada, and New Mexico. The Company sells its water rights to real estate developers, power generating facilities, or other commercial and industrial users, as well as to water utilities, municipalities, and other government agencies; and sells its stored water to state agencies, commercial developers, or municipalities for their commercial projects or communities.

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