Wolverine Trading LLC bought a new position in shares of ProAssurance Co. (NYSE:PRA) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,316 shares of the insurance provider’s stock, valued at approximately $247,000.
A number of other institutional investors and hedge funds also recently modified their holdings of PRA. Crossmark Global Holdings Inc. purchased a new stake in ProAssurance in the third quarter worth about $652,000. State Board of Administration of Florida Retirement System lifted its holdings in ProAssurance by 1.7% in the third quarter. State Board of Administration of Florida Retirement System now owns 87,227 shares of the insurance provider’s stock worth $4,767,000 after buying an additional 1,490 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in ProAssurance by 56.1% in the third quarter. BNP Paribas Arbitrage SA now owns 24,726 shares of the insurance provider’s stock worth $1,351,000 after buying an additional 8,882 shares during the period. Sei Investments Co. lifted its holdings in ProAssurance by 3.2% in the third quarter. Sei Investments Co. now owns 281,413 shares of the insurance provider’s stock worth $15,379,000 after buying an additional 8,675 shares during the period. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in ProAssurance by 58.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 20,040 shares of the insurance provider’s stock worth $1,095,000 after buying an additional 7,420 shares during the period. Institutional investors and hedge funds own 82.60% of the company’s stock.
Several analysts have commented on PRA shares. Zacks Investment Research lowered shares of ProAssurance from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Raymond James Financial upgraded shares of ProAssurance from an “underperform” rating to a “market perform” rating in a report on Wednesday, February 28th. SunTrust Banks lowered shares of ProAssurance from a “buy” rating to a “hold” rating in a report on Wednesday. Sandler O’Neill restated a “hold” rating and issued a $50.00 price objective on shares of ProAssurance in a report on Friday. Finally, TheStreet lowered shares of ProAssurance from a “b” rating to a “c+” rating in a report on Friday, March 9th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $55.50.
PRA stock opened at $46.15 on Friday. ProAssurance Co. has a 52-week low of $45.25 and a 52-week high of $63.45. The company has a market cap of $2,488.42, a PE ratio of 22.85 and a beta of 0.56. 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 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). ProAssurance had a net margin of 12.38% and a return on equity of 6.11%. The business had revenue of $209.12 million for the quarter, compared to analysts’ expectations of $217.03 million. During the same quarter in the previous year, the business posted $0.83 earnings per share. ProAssurance’s revenue for the quarter was down 12.0% on a year-over-year basis. sell-side analysts predict that ProAssurance Co. will post 1.88 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 18th. Stockholders of record on Thursday, March 29th will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, March 28th. This represents a $1.24 annualized dividend and a dividend yield of 2.69%. ProAssurance’s payout ratio is 61.39%.
In other news, CEO William Stancil Starnes sold 25,896 shares of ProAssurance stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 277,772 shares in the company, valued at $15,280,237.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 39,074 shares of company stock valued at $2,149,329 over the last quarter. 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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