ProAssurance Corp. (PRA) Shares Sold by Welch Group LLC
Welch Group LLC lowered its position in ProAssurance Corp. (NYSE:PRA) by 45.1% during the second quarter, Holdings Channel reports. The firm owned 25,534 shares of the company’s stock after selling 20,955 shares during the period. Welch Group LLC’s holdings in ProAssurance Corp. were worth $1,367,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of PRA. LS Investment Advisors LLC boosted its stake in ProAssurance Corp. by 3.7% in the second quarter. LS Investment Advisors LLC now owns 1,882 shares of the company’s stock worth $101,000 after buying an additional 67 shares during the period. Quadrant Capital Management LLC purchased a new stake in ProAssurance Corp. during the second quarter worth approximately $202,000. First Quadrant L P CA boosted its stake 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 worth $295,000 after buying an additional 1,100 shares during the period. Creative Planning boosted its stake in ProAssurance Corp. by 63.2% in the second quarter. Creative Planning now owns 6,537 shares of the company’s stock worth $350,000 after buying an additional 2,531 shares during the period. Finally, CIBC World Markets Inc. purchased a new stake in ProAssurance Corp. during the first quarter worth approximately $368,000. Institutional investors and hedge funds own 80.78% of the company’s stock.
Shares of ProAssurance Corp. (NYSE:PRA) traded up 0.10% during trading on Monday, reaching $52.53. The company had a trading volume of 205,041 shares. ProAssurance Corp. has a 52-week low of $45.78 and a 52-week high of $55.43. The stock has a 50 day moving average of $53.59 and a 200 day moving average of $51.50. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 26.13 and a beta of 0.45.
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, beating analysts’ consensus estimates of $0.57 by $0.10. The company earned $214.80 million during the quarter, compared to analysts’ expectations 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 prior year, the company posted $0.64 EPS. Equities research analysts forecast that ProAssurance Corp. will post $2.40 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Wednesday, September 28th will be given a $0.31 dividend. The ex-dividend date is Monday, September 26th. This represents a $1.24 dividend on an annualized basis and a yield of 2.36%. ProAssurance Corp.’s payout ratio is currently 61.69%.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded ProAssurance Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 29th. JMP Securities boosted their price target on ProAssurance Corp. to $57.00 and gave the company an “outperform” rating in a research report on Monday, June 13th.
About ProAssurance Corp.
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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