Aperio Group LLC cut its stake in shares of ProAssurance Co. (NYSE:PRA) by 4.2% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 63,311 shares of the insurance provider’s stock after selling 2,772 shares during the period. Aperio Group LLC owned approximately 0.12% of ProAssurance worth $3,074,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in ProAssurance by 3.1% during the 4th quarter. BlackRock Inc. now owns 5,573,593 shares of the insurance provider’s stock worth $318,531,000 after acquiring an additional 169,585 shares in the last quarter. Victory Capital Management Inc. lifted its position in ProAssurance by 11.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,743,480 shares of the insurance provider’s stock worth $84,646,000 after acquiring an additional 180,270 shares in the last quarter. Wells Fargo & Company MN lifted its position in ProAssurance by 6.0% during the 1st quarter. Wells Fargo & Company MN now owns 1,294,935 shares of the insurance provider’s stock worth $62,869,000 after acquiring an additional 73,287 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in ProAssurance by 7.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,211,339 shares of the insurance provider’s stock worth $69,229,000 after acquiring an additional 79,302 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its position in ProAssurance by 7.2% during the 4th quarter. Eagle Asset Management Inc. now owns 763,740 shares of the insurance provider’s stock worth $43,334,000 after acquiring an additional 51,022 shares in the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.
In other ProAssurance news, Director Magnus James Gorrie acquired 2,000 shares of the company’s stock in a transaction on Wednesday, June 13th. The shares were bought at an average cost of $39.20 per share, for a total transaction of $78,400.00. Following the acquisition, the director now directly owns 14,231 shares of the company’s stock, valued at $557,855.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is owned by insiders.
PRA stock opened at $37.85 on Friday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.24. ProAssurance Co. has a 52-week low of $37.80 and a 52-week high of $63.45. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 18.74 and a beta of 0.50.
ProAssurance (NYSE:PRA) last posted its quarterly earnings data on Thursday, May 3rd. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.04). ProAssurance had a return on equity of 5.64% and a net margin of 9.20%. The business had revenue of $201.03 million for the quarter, compared to analysts’ expectations of $219.42 million. During the same quarter in the prior year, the firm earned $0.62 earnings per share. ProAssurance’s revenue for the quarter was down 9.9% compared to the same quarter last year. equities analysts forecast that ProAssurance Co. will post 1.77 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 10th. Shareholders of record on Friday, June 22nd will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Thursday, June 21st. This represents a $1.24 annualized dividend and a yield of 3.28%. ProAssurance’s dividend payout ratio is presently 61.39%.
Several equities analysts recently commented on the company. Boenning Scattergood reissued a “hold” rating on shares of ProAssurance in a research report on Friday, May 4th. ValuEngine lowered ProAssurance from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Keefe, Bruyette & Woods set a $52.00 price target on ProAssurance and gave the stock a “hold” rating in a research report on Tuesday, April 10th. Sandler O’Neill reissued a “hold” rating and set a $50.00 price target on shares of ProAssurance in a research report on Friday, April 6th. Finally, SunTrust Banks downgraded ProAssurance from a “buy” rating to a “hold” rating in a report on Wednesday, April 4th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The company has an average rating of “Hold” and a consensus price target of $54.75.
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.
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