ProAssurance Corporation (PRA) Shares Bought by Prudential Financial Inc.
Prudential Financial Inc. boosted its position in shares of ProAssurance Corporation (NYSE:PRA) by 4.0% during the first quarter, Holdings Channel reports. The institutional investor owned 101,820 shares of the insurance provider’s stock after buying an additional 3,910 shares during the period. Prudential Financial Inc.’s holdings in ProAssurance Corporation were worth $6,135,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in PRA. Russell Investments Group Ltd. purchased a new position in shares of ProAssurance Corporation during the fourth quarter worth $4,139,000. Karp Capital Management Corp purchased a new position in shares of ProAssurance Corporation during the first quarter worth $6,052,000. Two Sigma Investments LP boosted its position in shares of ProAssurance Corporation by 169.2% in the fourth quarter. Two Sigma Investments LP now owns 24,551 shares of the insurance provider’s stock worth $1,380,000 after buying an additional 15,431 shares in the last quarter. Norges Bank purchased a new position in shares of ProAssurance Corporation during the fourth quarter worth $32,640,000. Finally, Swiss National Bank boosted its position in shares of ProAssurance Corporation by 0.8% in the first quarter. Swiss National Bank now owns 88,100 shares of the insurance provider’s stock worth $5,308,000 after buying an additional 700 shares in the last quarter. 81.96% of the stock is currently owned by institutional investors.
ProAssurance Corporation (NYSE:PRA) opened at 61.40 on Tuesday. The company’s 50 day moving average price is $59.63 and its 200-day moving average price is $58.63. The stock has a market capitalization of $3.28 billion, a PE ratio of 18.96 and a beta of 0.50. ProAssurance Corporation has a one year low of $50.50 and a one year high of $63.53.
ProAssurance Corporation (NYSE:PRA) last announced its quarterly earnings results on Thursday, May 4th. The insurance provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. ProAssurance Corporation had a return on equity of 7.19% and a net margin of 19.25%. The company had revenue of $223 million during the quarter, compared to analyst estimates of $211.53 million. During the same period in the prior year, the company earned $0.46 earnings per share. The firm’s revenue was up 15.3% on a year-over-year basis. Analysts expect that ProAssurance Corporation will post $2.33 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 12th. Investors of record on Tuesday, June 27th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Friday, June 23rd. ProAssurance Corporation’s payout ratio is presently 38.39%.
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A number of equities analysts recently weighed in on PRA shares. Zacks Investment Research cut ProAssurance Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, February 28th. BidaskClub raised ProAssurance Corporation from a “sell” rating to a “hold” rating in a report on Friday. Finally, Boenning Scattergood reissued a “neutral” rating on shares of ProAssurance Corporation in a report on Monday, April 17th.
ProAssurance Corporation Company Profile
ProAssurance Corporation (ProAssurance) 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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