ProAssurance Co. (PRA) To Go Ex-Dividend on September 28th

ProAssurance Co. (NYSE:PRAGet Rating) announced a quarterly dividend on Friday, September 9th, Wall Street Journal reports. Stockholders of record on Thursday, September 29th will be given a dividend of 0.05 per share by the insurance provider on Thursday, October 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Wednesday, September 28th.

ProAssurance has decreased its dividend by an average of 5.7% per year over the last three years. ProAssurance has a payout ratio of 160.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect ProAssurance to earn $1.23 per share next year, which means the company may not be able to cover its $1.94 annual dividend with an expected future payout ratio of 157.7%.

ProAssurance Stock Up 0.4 %

Shares of PRA opened at $21.30 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.36. ProAssurance has a 52-week low of $20.37 and a 52-week high of $27.55. The company has a market cap of $1.15 billion, a PE ratio of 29.58 and a beta of 0.28. The business has a fifty day moving average of $22.46 and a 200 day moving average of $23.46.

ProAssurance (NYSE:PRAGet Rating) last released its quarterly earnings results on Monday, August 8th. The insurance provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.21. The firm had revenue of $255.80 million during the quarter, compared to analysts’ expectations of $314.59 million. ProAssurance had a net margin of 3.37% and a return on equity of 5.37%. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 EPS. On average, sell-side analysts expect that ProAssurance will post 0.97 EPS for the current year.

Analysts Set New Price Targets

Separately, raised shares of ProAssurance from a “sell” rating to a “hold” rating in a research report on Thursday, July 21st.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Legal & General Group Plc boosted its stake in shares of ProAssurance by 0.3% during the second quarter. Legal & General Group Plc now owns 152,905 shares of the insurance provider’s stock valued at $3,613,000 after purchasing an additional 514 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of ProAssurance by 1.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 46,823 shares of the insurance provider’s stock valued at $1,291,000 after acquiring an additional 591 shares during the period. Lazard Asset Management LLC bought a new position in shares of ProAssurance in the 1st quarter worth $31,000. Captrust Financial Advisors lifted its stake in shares of ProAssurance by 3.1% during the 1st quarter. Captrust Financial Advisors now owns 70,383 shares of the insurance provider’s stock worth $1,895,000 after purchasing an additional 2,107 shares during the last quarter. Finally, UBS Group AG boosted its position in ProAssurance by 13.2% during the first quarter. UBS Group AG now owns 23,720 shares of the insurance provider’s stock valued at $638,000 after purchasing an additional 2,770 shares in the last quarter. 87.31% of the stock is currently owned by hedge funds and other institutional investors.

About ProAssurance

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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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Dividend History for ProAssurance (NYSE:PRA)

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