ProAssurance Corp. (PRA) Stake Reduced by Nationwide Fund Advisors
Nationwide Fund Advisors reduced its position in ProAssurance Corp. (NYSE:PRA) by 3.6% during the second quarter, Holdings Channel reports. The institutional investor owned 36,009 shares of the company’s stock after selling 1,359 shares during the period. Nationwide Fund Advisors owned 0.07% of ProAssurance Corp. worth $1,928,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of PRA. Loomis Sayles & Co. L P raised its position in ProAssurance Corp. by 1.7% in the first quarter. Loomis Sayles & Co. L P now owns 320,762 shares of the company’s stock worth $16,231,000 after buying an additional 5,412 shares in the last quarter. Goldman Sachs Group Inc. raised its position in ProAssurance Corp. by 14.4% in the first quarter. Goldman Sachs Group Inc. now owns 982,100 shares of the company’s stock worth $49,694,000 after buying an additional 123,421 shares in the last quarter. UBS Group AG raised its position in ProAssurance Corp. by 4.7% in the first quarter. UBS Group AG now owns 40,250 shares of the company’s stock worth $2,037,000 after buying an additional 1,812 shares in the last quarter. State Street Corp raised its position in ProAssurance Corp. by 3.6% in the first quarter. State Street Corp now owns 1,043,072 shares of the company’s stock worth $52,775,000 after buying an additional 35,993 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new position in ProAssurance Corp. during the first quarter worth approximately $951,000. 80.78% of the stock is owned by hedge funds and other institutional investors.
Shares of ProAssurance Corp. (NYSE:PRA) traded up 0.8356% during midday trading on Friday, hitting $54.2899. 9,234 shares of the company’s stock were exchanged. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 27.0099 and a beta of 0.45. The company has a 50-day moving average of $53.45 and a 200-day moving average of $51.67. ProAssurance Corp. has a 52 week low of $45.78 and a 52 week high of $55.43.
ProAssurance Corp. (NYSE:PRA) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.10. The company had revenue of $214.80 million for the quarter, compared to analyst estimates of $202.70 million. ProAssurance Corp. had a net margin of 16.40% and a return on equity of 7.65%. The company’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. Equities research analysts expect that ProAssurance Corp. will post $2.40 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 7th. Stockholders of record on Wednesday, September 28th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Monday, September 26th. ProAssurance Corp.’s payout ratio is presently 61.69%.
Separately, Zacks Investment Research raised shares of ProAssurance Corp. from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Tuesday, August 9th.
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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