Wedbush Securities Inc. bought a new stake in Protective Insurance Corp (NASDAQ:PTVCB) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 31,477 shares of the company’s stock, valued at approximately $722,000. Wedbush Securities Inc. owned approximately 0.21% of Protective Insurance at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. American International Group Inc. purchased a new position in shares of Protective Insurance in the 3rd quarter valued at about $146,000. Rhumbline Advisers acquired a new stake in Protective Insurance in the 3rd quarter valued at about $219,000. Citadel Advisors LLC acquired a new stake in Protective Insurance in the 3rd quarter valued at about $266,000. Penbrook Management LLC acquired a new stake in Protective Insurance in the 3rd quarter valued at about $286,000. Finally, Alliancebernstein L.P. acquired a new stake in Protective Insurance in the 3rd quarter valued at about $311,000. Institutional investors and hedge funds own 47.99% of the company’s stock.
Separately, TheStreet cut shares of Protective Insurance from a “b-” rating to a “c+” rating in a research note on Monday, November 19th.
Shares of NASDAQ PTVCB opened at $20.39 on Friday. Protective Insurance Corp has a 52 week low of $18.64 and a 52 week high of $25.70.
Protective Insurance (NASDAQ:PTVCB) last issued its quarterly earnings data on Wednesday, November 7th. The company reported ($0.95) EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($1.25). The business 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 4th. Investors of record on Tuesday, November 20th were paid 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 5.49%.
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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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