First Citizens Bank & Trust Co. decreased its position in ProAssurance Corp. (NYSE:PRA) by 9.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,150 shares of the company’s stock after selling 994 shares during the period. First Citizens Bank & Trust Co.’s holdings in ProAssurance Corp. were worth $490,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the company. Aperio Group LLC raised its position in shares of ProAssurance Corp. by 6.7% in the first quarter. Aperio Group LLC now owns 39,929 shares of the company’s stock worth $2,020,000 after buying an additional 2,492 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of ProAssurance Corp. by 19.3% in the first quarter. TIAA CREF Investment Management LLC now owns 190,811 shares of the company’s stock worth $9,655,000 after buying an additional 30,848 shares during the period. Teachers Advisors Inc. raised its position in shares of ProAssurance Corp. by 786.3% in the first quarter. Teachers Advisors Inc. now owns 435,945 shares of the company’s stock worth $22,059,000 after buying an additional 386,757 shares during the period. Prudential Financial Inc. raised its position in shares of ProAssurance Corp. by 4.5% in the first quarter. Prudential Financial Inc. now owns 127,950 shares of the company’s stock worth $6,474,000 after buying an additional 5,510 shares during the period. Finally, BlackRock Inc. raised 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 worth $397,000 after buying an additional 5,047 shares during the period. 80.78% of the stock is currently owned by institutional investors and hedge funds.
ProAssurance Corp. (NYSE:PRA) traded up 0.39% during midday trading on Friday, reaching $54.05. 84,202 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $53.44 and a 200 day moving average price of $51.70. ProAssurance Corp. has a 12 month low of $45.78 and a 12 month high of $55.43. The company has a market cap of $2.88 billion, a P/E ratio of 26.89 and a beta of 0.45.
ProAssurance Corp. (NYSE:PRA) last issued its earnings results on Wednesday, August 3rd. The company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.10. The business had revenue of $214.80 million for the quarter, compared to the consensus estimate of $202.70 million. ProAssurance Corp. had a net margin of 16.40% and a return on equity of 7.65%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 earnings per share. On average, equities analysts anticipate that ProAssurance Corp. will post $2.40 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 7th. Investors of record on Wednesday, September 28th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, September 26th. This represents a $1.24 dividend on an annualized basis and a yield of 2.29%. ProAssurance Corp.’s payout ratio is 61.69%.
Separately, Zacks Investment Research raised shares of ProAssurance Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 29th.
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.
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