Royce & Associates LP Has $58.50 Million Stake in ProAssurance Co. (PRA)

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Royce & Associates LP lifted its position in shares of ProAssurance Co. (NYSE:PRA) by 3.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,690,159 shares of the insurance provider’s stock after purchasing an additional 62,694 shares during the period. Royce & Associates LP’s holdings in ProAssurance were worth $58,496,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. CIBC Asset Management Inc raised its stake in ProAssurance by 56.7% in the fourth quarter. CIBC Asset Management Inc now owns 6,885 shares of the insurance provider’s stock worth $279,000 after buying an additional 2,490 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in ProAssurance by 67.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 45,578 shares of the insurance provider’s stock worth $1,849,000 after buying an additional 18,430 shares in the last quarter. Deutsche Bank AG raised its stake in ProAssurance by 14.8% in the fourth quarter. Deutsche Bank AG now owns 189,527 shares of the insurance provider’s stock worth $7,685,000 after buying an additional 24,451 shares in the last quarter. Larson Financial Group LLC bought a new position in ProAssurance in the fourth quarter worth about $158,000. Finally, Morgan Stanley raised its stake in ProAssurance by 46.0% in the third quarter. Morgan Stanley now owns 237,490 shares of the insurance provider’s stock worth $11,149,000 after buying an additional 74,795 shares in the last quarter. Institutional investors own 80.14% of the company’s stock.

PRA has been the subject of a number of research reports. ValuEngine raised shares of ProAssurance from a “hold” rating to a “buy” rating in a research note on Wednesday. Boenning Scattergood reissued a “hold” rating on shares of ProAssurance in a research note on Tuesday, February 26th. JMP Securities decreased their price target on shares of ProAssurance from $50.00 to $45.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 10th. Finally, Keefe, Bruyette & Woods downgraded shares of ProAssurance from a “market perform” rating to an “underperform” rating and set a $33.00 target price for the company. in a research note on Monday, May 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $44.20.

Shares of NYSE PRA traded up $0.91 on Friday, reaching $38.45. 197,523 shares of the company’s stock traded hands, compared to its average volume of 302,350. ProAssurance Co. has a 12 month low of $34.11 and a 12 month high of $49.47. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 25.98 and a beta of 0.65. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.37 and a current ratio of 0.37.

ProAssurance (NYSE:PRA) last announced its earnings results on Thursday, April 25th. The insurance provider reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.23). ProAssurance had a net margin of 7.01% and a return on equity of 3.98%. The business had revenue of $268.88 million for the quarter, compared to the consensus estimate of $238.55 million. During the same period in the prior year, the business posted $0.40 EPS. ProAssurance’s revenue for the quarter was up 33.8% on a year-over-year basis. On average, analysts forecast that ProAssurance Co. will post 0.48 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Thursday, June 13th. ProAssurance’s dividend payout ratio is 83.78%.

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ProAssurance Company Profile

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 Insurance, Segregated Portfolio Cell Reinsurance, and Lloyd's Syndicate segments.

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Institutional Ownership by Quarter for ProAssurance (NYSE:PRA)

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