Wolverine Trading LLC bought a new position in ProAssurance Co. (NYSE:PRA) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,316 shares of the insurance provider’s stock, valued at approximately $247,000.
Several other large investors have also added to or reduced their stakes in PRA. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of ProAssurance by 50.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,109 shares of the insurance provider’s stock worth $178,000 after buying an additional 1,042 shares during the period. Everence Capital Management Inc. purchased a new stake in shares of ProAssurance in the 4th quarter worth about $202,000. Larson Financial Group LLC purchased a new stake in shares of ProAssurance in the 4th quarter worth about $223,000. Magnetar Financial LLC purchased a new stake in shares of ProAssurance in the 3rd quarter worth about $246,000. Finally, Ramsey Quantitative Systems bought a new position in ProAssurance in the 4th quarter worth about $310,000. 82.69% of the stock is currently owned by hedge funds and other institutional investors.
ProAssurance Co. (NYSE PRA) opened at $49.80 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.46 and a quick ratio of 0.46. The stock has a market cap of $2,686.22, a PE ratio of 24.88 and a beta of 0.59. ProAssurance Co. has a one year low of $46.90 and a one year high of $63.45.
ProAssurance (NYSE:PRA) last posted its earnings results on Wednesday, February 21st. The insurance provider reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.07). The company had revenue of $209.12 million for the quarter, compared to the consensus estimate of $217.03 million. ProAssurance had a net margin of 12.38% and a return on equity of 6.11%. ProAssurance’s revenue was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.83 EPS. analysts expect that ProAssurance Co. will post 1.88 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Thursday, March 29th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Wednesday, March 28th. ProAssurance’s dividend payout ratio is currently 62.31%.
A number of brokerages recently issued reports on PRA. Raymond James Financial upgraded shares of ProAssurance from an “underperform” rating to a “market perform” rating in a research note on Wednesday, February 28th. Zacks Investment Research upgraded shares of ProAssurance from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Friday, January 5th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $61.00 price target on shares of ProAssurance in a research note on Wednesday, December 6th. TheStreet cut shares of ProAssurance from a “b” rating to a “c+” rating in a research note on Friday, March 9th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of ProAssurance in a research note on Thursday, February 22nd. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $57.33.
In other ProAssurance news, CEO William Stancil Starnes sold 25,896 shares of the company’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $55.01, for a total transaction of $1,424,538.96. Following the transaction, the chief executive officer now owns 277,772 shares in the company, valued at approximately $15,280,237.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 39,074 shares of company stock worth $2,149,329 in the last 90 days. Company insiders own 1.80% of the company’s stock.
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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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