Principal Financial Group Inc. lessened its stake in ProAssurance Corporation (NYSE:PRA) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 426,134 shares of the insurance provider’s stock after selling 9,275 shares during the quarter. Principal Financial Group Inc. owned about 0.80% of ProAssurance worth $23,288,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP grew its position in shares of ProAssurance by 33.3% during the 1st quarter. Wellington Management Group LLP now owns 7,675 shares of the insurance provider’s stock worth $462,000 after buying an additional 1,916 shares during the period. Morgan Stanley boosted its stake in ProAssurance by 258.0% during the 1st quarter. Morgan Stanley now owns 54,085 shares of the insurance provider’s stock worth $3,259,000 after acquiring an additional 38,976 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in ProAssurance by 0.7% during the 1st quarter. Public Employees Retirement System of Ohio now owns 27,476 shares of the insurance provider’s stock worth $1,655,000 after acquiring an additional 196 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new position in ProAssurance during the 2nd quarter worth approximately $232,000. Finally, First Quadrant L P CA boosted its stake in ProAssurance by 124.1% during the 2nd quarter. First Quadrant L P CA now owns 2,465 shares of the insurance provider’s stock worth $150,000 after acquiring an additional 1,365 shares during the last quarter. Hedge funds and other institutional investors own 80.23% of the company’s stock.
PRA has been the topic of a number of research reports. Buckingham Research initiated coverage on shares of ProAssurance in a research note on Monday, September 11th. They issued a “neutral” rating and a $54.00 price target on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $60.00 price target on shares of ProAssurance in a research note on Monday, October 16th. Boenning Scattergood reissued a “hold” rating on shares of ProAssurance in a research report on Tuesday, November 7th. Finally, Zacks Investment Research raised shares of ProAssurance from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $61.00.
Shares of ProAssurance Corporation (NYSE:PRA) traded down $0.15 on Thursday, reaching $61.50. 121,058 shares of the company were exchanged, compared to its average volume of 152,302. ProAssurance Corporation has a fifty-two week low of $50.70 and a fifty-two week high of $63.53. The firm has a market capitalization of $3,290.00, a P/E ratio of 26.96 and a beta of 0.57. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40.
ProAssurance (NYSE:PRA) last released its quarterly earnings data on Monday, November 6th. The insurance provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.09. ProAssurance had a net margin of 16.18% and a return on equity of 6.75%. The firm had revenue of $228.50 million for the quarter, compared to the consensus estimate of $215.12 million. During the same period in the previous year, the company earned $0.46 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. analysts predict that ProAssurance Corporation will post 2.09 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Thursday, December 21st will be given a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.02%. ProAssurance’s payout ratio is presently 45.93%.
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ProAssurance Corporation (ProAssurance) is a holding company for property and casualty insurance companies. The Company provides professional liability insurance for healthcare professionals and facilities, professional liability insurance for attorneys, liability insurance for medical technology and life sciences risks, and workers’ compensation insurance.
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