LPL Financial LLC grew its position in shares of ProAssurance Co. (NYSE:PRA) by 11.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,348 shares of the insurance provider’s stock after purchasing an additional 1,041 shares during the period. LPL Financial LLC’s holdings in ProAssurance were worth $591,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of ProAssurance by 50.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,109 shares of the insurance provider’s stock valued at $178,000 after purchasing an additional 1,042 shares in the last quarter. Everence Capital Management Inc. purchased a new position in shares of ProAssurance during the 4th quarter valued at $202,000. Larson Financial Group LLC purchased a new position in shares of ProAssurance during the 4th quarter valued at $223,000. Wolverine Trading LLC purchased a new position in shares of ProAssurance during the 4th quarter valued at $247,000. Finally, Ramsey Quantitative Systems purchased a new position in shares of ProAssurance during the 4th quarter valued at $310,000. Hedge funds and other institutional investors own 82.56% of the company’s stock.
A number of research analysts have recently commented on the stock. Sandler O’Neill restated a “hold” rating and set a $50.00 price target on shares of ProAssurance in a research report on Friday, April 6th. Zacks Investment Research upgraded shares of ProAssurance from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Friday, January 5th. Raymond James Financial upgraded shares of ProAssurance from an “underperform” rating to a “market perform” rating in a research report on Wednesday, February 28th. TheStreet lowered shares of ProAssurance from a “b” rating to a “c+” rating in a research report on Friday, March 9th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $55.00 target price on shares of ProAssurance in a research report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $54.75.
Shares of NYSE:PRA opened at $47.15 on Tuesday. ProAssurance Co. has a 52-week low of $45.20 and a 52-week high of $63.45. The firm has a market capitalization of $2,459.02, a P/E ratio of 23.34 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 announced its earnings results on Wednesday, February 21st. The insurance provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.07). ProAssurance had a return on equity of 6.11% and a net margin of 12.38%. The company had revenue of $209.12 million during the quarter, compared to analysts’ expectations of $217.03 million. During the same quarter last year, the firm posted $0.83 earnings per share. The firm’s revenue 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Thursday, March 29th will be given a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.24 annualized dividend and a yield of 2.63%. ProAssurance’s dividend payout ratio (DPR) is presently 61.39%.
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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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