IBM Retirement Fund lowered its stake in ProAssurance Corp. (NYSE:PRA) by 4.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,305 shares of the company’s stock after selling 235 shares during the period. IBM Retirement Fund’s holdings in ProAssurance Corp. were worth $284,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Quadrant L P CA boosted its position in ProAssurance Corp. by 25.0% in the second quarter. First Quadrant L P CA now owns 5,500 shares of the company’s stock valued at $295,000 after buying an additional 1,100 shares in the last quarter. Creative Planning boosted its position in shares of ProAssurance Corp. by 63.2% in the second quarter. Creative Planning now owns 6,537 shares of the company’s stock valued at $350,000 after buying an additional 2,531 shares during the period. CIBC World Markets Inc. bought a new position in shares of ProAssurance Corp. during the first quarter valued at approximately $368,000. BlackRock Inc. boosted its position in shares of ProAssurance Corp. by 180.1% in the first quarter. BlackRock Inc. now owns 7,850 shares of the company’s stock valued at $397,000 after buying an additional 5,047 shares during the period. Finally, M&T Bank Corp boosted its position in shares of ProAssurance Corp. by 0.4% in the first quarter. M&T Bank Corp now owns 10,256 shares of the company’s stock valued at $519,000 after buying an additional 39 shares during the period. 80.78% of the stock is owned by institutional investors.
Shares of ProAssurance Corp. (NYSE:PRA) traded up 0.85% on Friday, reaching $52.48. The company had a trading volume of 159,401 shares. ProAssurance Corp. has a 12 month low of $45.78 and a 12 month high of $55.43. The stock has a market cap of $2.79 billion, a PE ratio of 26.11 and a beta of 0.42. The stock has a 50-day moving average price of $53.59 and a 200-day moving average price of $51.50.
ProAssurance Corp. (NYSE:PRA) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.10. ProAssurance Corp. had a return on equity of 7.65% and a net margin of 16.40%. The firm earned $214.80 million during the quarter, compared to analyst estimates of $202.70 million. During the same period last year, the company posted $0.64 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts predict that ProAssurance Corp. will post $2.40 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Wednesday, September 28th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Monday, September 26th. ProAssurance Corp.’s dividend payout ratio (DPR) is presently 61.69%.
Several research analysts recently commented on PRA shares. Zacks Investment Research raised ProAssurance Corp. from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Monday, July 11th. JMP Securities increased their price target on ProAssurance Corp. to $57.00 and gave the company an “outperform” rating in a research report on Monday, June 13th.
ProAssurance Corp. Company Profile
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.