UBS Asset Management Americas Inc. decreased its position in ProAssurance Co. (NYSE:PRA) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,299 shares of the insurance provider’s stock after selling 1,634 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.11% of ProAssurance worth $3,275,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in shares of ProAssurance by 3.1% in the 4th quarter. BlackRock Inc. now owns 5,573,593 shares of the insurance provider’s stock worth $318,531,000 after buying an additional 169,585 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of ProAssurance by 23.6% in the 4th quarter. Rhumbline Advisers now owns 135,608 shares of the insurance provider’s stock worth $7,750,000 after buying an additional 25,890 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of ProAssurance by 224.0% in the 4th quarter. Arizona State Retirement System now owns 89,745 shares of the insurance provider’s stock worth $5,129,000 after buying an additional 62,045 shares during the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of ProAssurance by 7.2% in the 4th quarter. Eagle Asset Management Inc. now owns 763,740 shares of the insurance provider’s stock worth $43,334,000 after buying an additional 51,022 shares during the last quarter. Finally, Pinebridge Investments L.P. boosted its holdings in shares of ProAssurance by 54.3% in the 4th quarter. Pinebridge Investments L.P. now owns 75,211 shares of the insurance provider’s stock worth $4,299,000 after buying an additional 26,467 shares during the last quarter. 82.60% of the stock is currently owned by institutional investors.
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 sale, the chief executive officer now directly owns 277,772 shares of the company’s stock, valued at $15,280,237.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 39,074 shares of company stock worth $2,149,329. Insiders own 1.80% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of ProAssurance from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Friday, January 5th. Boenning Scattergood reissued a “hold” rating on shares of ProAssurance in a report on Thursday, February 22nd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $55.00 price target on shares of ProAssurance in a report on Tuesday, February 27th. TheStreet downgraded shares of ProAssurance from a “b” rating to a “c+” rating in a report on Friday, March 9th. Finally, Sandler O’Neill reissued a “hold” rating and issued a $50.00 price target on shares of ProAssurance in a report on Friday. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company. ProAssurance has a consensus rating of “Hold” and an average price target of $55.50.
NYSE PRA traded down $0.60 during trading on Friday, hitting $46.15. 275,665 shares of the company’s stock traded hands, compared to its average volume of 221,448. The company has a market cap of $2,488.42, a PE ratio of 22.85 and a beta of 0.56. ProAssurance Co. has a 12-month low of $45.25 and a 12-month high of $63.45. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.26.
ProAssurance (NYSE:PRA) last released its quarterly earnings data on Wednesday, February 21st. The insurance provider reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.07). The business had revenue of $209.12 million for the quarter, compared to analysts’ expectations of $217.03 million. ProAssurance had a net margin of 12.38% and a return on equity of 6.11%. ProAssurance’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same period last year, the company earned $0.83 earnings per share. equities research analysts anticipate that ProAssurance Co. will post 1.88 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Thursday, March 29th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Wednesday, March 28th. ProAssurance’s dividend payout ratio (DPR) is presently 61.39%.
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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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