ProAssurance Co. (NYSE:PRA) – Analysts at SunTrust Banks reduced their Q1 2018 EPS estimates for ProAssurance in a research report issued to clients and investors on Monday. SunTrust Banks analyst M. Hughes now anticipates that the insurance provider will post earnings per share of $0.39 for the quarter, down from their prior forecast of $0.45. SunTrust Banks also issued estimates for ProAssurance’s Q2 2018 earnings at $0.41 EPS, Q3 2018 earnings at $0.41 EPS and FY2018 earnings at $1.75 EPS.
ProAssurance (NYSE:PRA) last released its earnings results on Wednesday, February 21st. The insurance provider reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.07). The company had revenue of $209.12 million for the quarter, compared to the consensus estimate of $217.03 million. ProAssurance had a net margin of 12.38% and a return on equity of 6.11%. The business’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 EPS.
ProAssurance (PRA) opened at $50.25 on Wednesday. The firm has a market capitalization of $2,670.18, a P/E ratio of 24.73 and a beta of 0.59. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.26. ProAssurance has a 12-month low of $46.90 and a 12-month high of $63.45.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 18th. Stockholders of record on Thursday, March 29th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Wednesday, March 28th. ProAssurance’s dividend payout ratio is currently 62.31%.
In other news, CEO William Stancil Starnes sold 25,896 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $55.01, for a total transaction of $1,424,538.96. Following the transaction, the chief executive officer now owns 277,772 shares of the company’s stock, valued at approximately $15,280,237.72. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 39,074 shares of company stock worth $2,149,329. Corporate insiders own 1.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in PRA. Carillon Tower Advisers Inc. bought a new position in ProAssurance in the 4th quarter valued at $37,292,000. BlackRock Inc. grew its position in ProAssurance by 3.1% in the 4th quarter. BlackRock Inc. now owns 5,573,593 shares of the insurance provider’s stock valued at $318,531,000 after acquiring an additional 169,585 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in ProAssurance in the 4th quarter valued at $8,281,000. Wells Fargo & Company MN grew its position in ProAssurance by 10.7% in the 3rd quarter. Wells Fargo & Company MN now owns 1,313,376 shares of the insurance provider’s stock valued at $71,777,000 after acquiring an additional 127,382 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in ProAssurance by 6.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,563,210 shares of the insurance provider’s stock valued at $89,338,000 after acquiring an additional 93,160 shares during the last quarter. 82.69% of the stock is currently owned by institutional investors.
ProAssurance Company Profile
ProAssurance Corporation (ProAssurance) 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.
Receive News & Ratings for ProAssurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProAssurance and related companies with MarketBeat.com's FREE daily email newsletter.