Virginia Retirement Systems ET AL bought a new position in ProAssurance Corp. (NYSE:PRA) during the second quarter, Holdings Channel reports. The institutional investor bought 16,900 shares of the company’s stock, valued at approximately $905,000.
Several other large investors have also recently bought and sold shares of the company. LS Investment Advisors LLC boosted its position in shares of ProAssurance Corp. by 3.7% in the second quarter. LS Investment Advisors LLC now owns 1,882 shares of the company’s stock worth $101,000 after buying an additional 67 shares during the last quarter. Quadrant Capital Management LLC bought a new position in shares of ProAssurance Corp. during the second quarter worth approximately $202,000. Calvert Investment Management Inc. bought a new position in shares of ProAssurance Corp. during the second quarter worth approximately $220,000. Neuberger Berman Group LLC bought a new position in shares of ProAssurance Corp. during the second quarter worth approximately $263,000. Finally, First Quadrant L P CA boosted its position in shares of ProAssurance Corp. by 25.0% in the second quarter. First Quadrant L P CA now owns 5,500 shares of the company’s stock worth $295,000 after buying an additional 1,100 shares during the last quarter. 80.78% of the stock is owned by institutional investors.
ProAssurance Corp. (NYSE:PRA) opened at 52.48 on Friday. ProAssurance Corp. has a 52-week low of $45.78 and a 52-week high of $55.43. The firm has a 50-day moving average price of $53.59 and a 200-day moving average price of $51.50. The company has a market cap of $2.79 billion, a PE ratio of 26.11 and a beta of 0.42.
ProAssurance Corp. (NYSE:PRA) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The firm earned $214.80 million during the quarter, compared to the consensus estimate of $202.70 million. ProAssurance Corp. had a return on equity of 7.65% and a net margin of 16.40%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. On average, analysts forecast that ProAssurance Corp. will post $2.40 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Wednesday, September 28th will be paid a $0.31 dividend. The ex-dividend date is Monday, September 26th. This represents a $1.24 dividend on an annualized basis and a yield of 2.36%. ProAssurance Corp.’s dividend payout ratio (DPR) is presently 61.69%.
A number of research analysts recently commented on PRA shares. Zacks Investment Research upgraded ProAssurance Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 29th. JMP Securities raised their price target on ProAssurance Corp. to $57.00 and gave the stock an “outperform” rating in a research report on Monday, June 13th.
About ProAssurance Corp.
ProAssurance Corporation 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.
Want to see what other hedge funds are holding PRA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ProAssurance Corp. (NYSE:PRA).
Receive News & Ratings for ProAssurance Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProAssurance Corp. and related companies with MarketBeat.com's FREE daily email newsletter.