Minerva Advisors LLC Has $1,519,000 Position in ProAssurance Corp. (PRA)
Minerva Advisors LLC continued to hold its position in ProAssurance Corp. (NYSE:PRA) during the second quarter, Holdings Channel reports. The fund owned 28,358 shares of the company’s stock at the end of the second quarter. ProAssurance Corp. makes up approximately 1.0% of Minerva Advisors LLC’s holdings, making the stock its 26th largest position. Minerva Advisors LLC’s holdings in ProAssurance Corp. were worth $1,519,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. LS Investment Advisors LLC increased its position in shares of 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 in the last quarter. Quadrant Capital Management LLC purchased a new position in shares of ProAssurance Corp. during the second quarter worth $202,000. First Quadrant L P CA increased its position in shares of 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 in the last quarter. Creative Planning increased its position in shares of 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 in the last quarter. Finally, CIBC World Markets Inc. purchased a new position in shares of ProAssurance Corp. during the first quarter worth $368,000. 80.78% of the stock is owned by hedge funds and other institutional investors.
ProAssurance Corp. (NYSE:PRA) traded up 1.64% during midday trading on Friday, reaching $54.61. 69,303 shares of the company’s stock traded hands. The company’s 50-day moving average price is $53.45 and its 200-day moving average price is $51.56. The stock has a market cap of $2.91 billion, a P/E ratio of 27.17 and a beta of 0.45. ProAssurance Corp. has a 52-week low of $45.78 and a 52-week high of $55.43.
ProAssurance Corp. (NYSE:PRA) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.10. ProAssurance Corp. had a net margin of 16.40% and a return on equity of 7.65%. The business earned $214.80 million during the quarter, compared to analysts’ expectations of $202.70 million. During the same quarter in the previous year, the company earned $0.64 EPS. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, equities analysts predict that ProAssurance Corp. will post $2.40 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Wednesday, September 28th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Monday, September 26th. This represents a $1.24 dividend on an annualized basis and a yield of 2.31%. ProAssurance Corp.’s dividend payout ratio is presently 61.69%.
A number of equities analysts recently weighed in on PRA shares. Zacks Investment Research raised shares of ProAssurance Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. JMP Securities lifted their target price on shares of ProAssurance Corp. to $57.00 and gave the stock an “outperform” rating in a research note on Monday, June 13th.
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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