Victory Capital Management Inc. increased its position in shares of ProAssurance Co. (NYSE:PRA) by 0.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,855,433 shares of the insurance provider’s stock after buying an additional 14,915 shares during the period. Victory Capital Management Inc.’s holdings in ProAssurance were worth $87,112,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. Everence Capital Management Inc. bought a new position in shares of ProAssurance during the third quarter worth about $242,000. Ramsey Quantitative Systems grew its holdings in shares of ProAssurance by 57.7% during the third quarter. Ramsey Quantitative Systems now owns 9,735 shares of the insurance provider’s stock worth $457,000 after buying an additional 3,560 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of ProAssurance by 10.1% during the third quarter. Bank of Montreal Can now owns 360,381 shares of the insurance provider’s stock worth $16,921,000 after buying an additional 33,078 shares in the last quarter. Legacy Private Trust Co. bought a new position in shares of ProAssurance during the third quarter worth about $241,000. Finally, Northern Trust Corp boosted its position in ProAssurance by 59.7% during the second quarter. Northern Trust Corp now owns 922,004 shares of the insurance provider’s stock valued at $32,685,000 after purchasing an additional 344,585 shares during the last quarter. Institutional investors and hedge funds own 84.94% of the company’s stock.
PRA has been the subject of several recent research reports. Zacks Investment Research raised ProAssurance from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Tuesday, September 11th. ValuEngine raised ProAssurance from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Sandler O’Neill reissued a “hold” rating and set a $44.00 price target on shares of ProAssurance in a research report on Thursday, August 9th. Boenning Scattergood reissued a “hold” rating on shares of ProAssurance in a research report on Wednesday, August 8th. Finally, JMP Securities increased their price target on ProAssurance from $50.00 to $52.00 and gave the company a “market outperform” rating in a research report on Friday, September 21st. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $50.50.
Shares of NYSE PRA opened at $44.12 on Monday. ProAssurance Co. has a 52 week low of $34.95 and a 52 week high of $63.45. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.18. The company has a market cap of $2.37 billion, a P/E ratio of 21.84 and a beta of 0.69.
ProAssurance (NYSE:PRA) last issued its quarterly earnings results on Tuesday, August 7th. The insurance provider reported $0.48 EPS for the quarter, beating the consensus estimate of $0.39 by $0.09. ProAssurance had a return on equity of 6.14% and a net margin of 9.67%. The firm had revenue of $248.02 million during the quarter, compared to analysts’ expectations of $219.98 million. During the same period in the prior year, the firm posted $0.40 earnings per share. As a group, equities research analysts anticipate that ProAssurance Co. will post 1.82 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 10th. Stockholders of record on Friday, September 28th were given a $0.31 dividend. The ex-dividend date was Thursday, September 27th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.81%. ProAssurance’s payout ratio is 61.39%.
ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers' Compensation, and Lloyd's Syndicate segments. It offers 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 for employers, groups, and associations.
Further Reading: What are the most popular ETFs
Want to see what other hedge funds are holding PRA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ProAssurance Co. (NYSE:PRA).
Receive News & Ratings for ProAssurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProAssurance and related companies with MarketBeat.com's FREE daily email newsletter.