Russell Investments Group Ltd. increased its position in ProAssurance Corporation (NYSE:PRA) by 6.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,221 shares of the insurance provider’s stock after purchasing an additional 2,334 shares during the period. Russell Investments Group Ltd. owned approximately 0.08% of ProAssurance worth $2,253,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in ProAssurance by 8.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,067 shares of the insurance provider’s stock valued at $126,000 after acquiring an additional 161 shares during the period. Flinton Capital Management LLC lifted its stake in ProAssurance by 55.3% during the 2nd quarter. Flinton Capital Management LLC now owns 2,560 shares of the insurance provider’s stock valued at $156,000 after acquiring an additional 912 shares during the period. Riverhead Capital Management LLC lifted its stake in ProAssurance by 60.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,895 shares of the insurance provider’s stock valued at $176,000 after acquiring an additional 1,095 shares during the period. Pacad Investment Ltd. lifted its stake in ProAssurance by 47.6% during the 2nd quarter. Pacad Investment Ltd. now owns 3,100 shares of the insurance provider’s stock valued at $188,000 after acquiring an additional 1,000 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in shares of ProAssurance during the 2nd quarter valued at about $211,000. Institutional investors own 80.17% of the company’s stock.
Shares of ProAssurance Corporation (NYSE:PRA) traded down $0.05 on Friday, reaching $54.95. 129,584 shares of the company’s stock were exchanged, compared to its average volume of 260,081. 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 Corporation has a twelve month low of $50.70 and a twelve month high of $63.45. The stock has a market cap of $2,937.84, a price-to-earnings ratio of 20.43 and a beta of 0.58.
ProAssurance (NYSE:PRA) last announced its quarterly earnings data on Monday, November 6th. The insurance provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. The business had revenue of $228.50 million during the quarter, compared to analyst estimates of $215.12 million. ProAssurance had a net margin of 16.18% and a return on equity of 6.75%. The company’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $0.46 EPS. equities research analysts expect that ProAssurance Corporation will post 2.09 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Thursday, December 21st were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, December 20th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.26%. ProAssurance’s dividend payout ratio is currently 46.10%.
Several equities research analysts have recently commented on PRA shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $60.00 price target on shares of ProAssurance in a research report on Monday, October 16th. Boenning Scattergood reaffirmed 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, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. ProAssurance currently has a consensus rating of “Hold” and a consensus price target of $59.50.
In other news, CEO William Stancil Starnes sold 25,896 shares of the stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $55.01, for a total transaction of $1,424,538.96. Following the completion of the transaction, the chief executive officer now directly owns 277,772 shares in the company, valued at approximately $15,280,237.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.
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ProAssurance Company Profile
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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