Swiss National Bank bought a new position in shares of Protective Insurance Corp (NASDAQ:PTVCB) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,600 shares of the company’s stock, valued at approximately $381,000. Swiss National Bank owned about 0.11% of Protective Insurance at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Deprince Race & Zollo Inc. acquired a new position in shares of Protective Insurance during the third quarter worth $8,532,000. First Manhattan Co. acquired a new position in shares of Protective Insurance during the third quarter worth $8,358,000. Torray LLC acquired a new position in shares of Protective Insurance during the third quarter worth $1,736,000. Wells Fargo & Company MN acquired a new position in shares of Protective Insurance during the third quarter worth $1,026,000. Finally, Stone Ridge Asset Management LLC acquired a new position in shares of Protective Insurance during the third quarter worth $478,000. Hedge funds and other institutional investors own 47.99% of the company’s stock.
Separately, TheStreet downgraded shares of Protective Insurance from a “b-” rating to a “c+” rating in a report on Monday, November 19th.
NASDAQ PTVCB opened at $20.57 on Friday. Protective Insurance Corp has a twelve month low of $18.64 and a twelve month high of $25.70.
Protective Insurance (NASDAQ:PTVCB) last posted its quarterly earnings data on Wednesday, November 7th. The company reported ($0.95) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($1.25). The company had revenue of $105.80 million during the quarter. Protective Insurance had a net margin of 1.59% and a negative return on equity of 0.37%.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 4th. Investors of record on Tuesday, November 20th were issued a $0.28 dividend. The ex-dividend date of this dividend was Monday, November 19th. This represents a $1.12 dividend on an annualized basis and a yield of 5.44%.
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About Protective Insurance
Protective Insurance Corporation, through its subsidiaries, engages in marketing and underwriting property and casualty insurance products. The company offers a range of fleet transportation insurance products, including commercial motor vehicle liability, physical damage, and general liability insurance; workers compensation insurance; medical and indemnity insurance products; non-trucking motor vehicle liability insurance; fidelity and surety bonds; and inland marine products consisting of cargo insurance.
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