Zurcher Kantonalbank Zurich Cantonalbank Buys 161 Shares of ProAssurance Corporation (PRA)
Zurcher Kantonalbank Zurich Cantonalbank grew its stake in ProAssurance Corporation (NYSE:PRA) by 8.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,067 shares of the insurance provider’s stock after acquiring an additional 161 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ProAssurance Corporation were worth $126,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of PRA. BlackRock Inc. increased its stake in shares of ProAssurance Corporation by 23,830.8% in the 1st quarter. BlackRock Inc. now owns 5,194,417 shares of the insurance provider’s stock worth $312,963,000 after acquiring an additional 5,172,711 shares during the last quarter. FMR LLC increased its stake in shares of ProAssurance Corporation by 17.7% in the 1st quarter. FMR LLC now owns 2,082,159 shares of the insurance provider’s stock worth $125,450,000 after acquiring an additional 313,514 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of ProAssurance Corporation by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 5,000,763 shares of the insurance provider’s stock worth $301,296,000 after acquiring an additional 258,955 shares during the last quarter. Epoch Investment Partners Inc. increased its stake in shares of ProAssurance Corporation by 151.8% in the 1st quarter. Epoch Investment Partners Inc. now owns 298,849 shares of the insurance provider’s stock worth $18,005,000 after acquiring an additional 180,151 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of ProAssurance Corporation by 54.8% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 470,404 shares of the insurance provider’s stock worth $28,600,000 after acquiring an additional 166,561 shares during the last quarter. 79.76% of the stock is owned by institutional investors and hedge funds.
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Shares of ProAssurance Corporation (NYSE:PRA) opened at 54.05 on Friday. The firm has a market capitalization of $2.89 billion, a P/E ratio of 19.31 and a beta of 0.54. ProAssurance Corporation has a 12 month low of $50.50 and a 12 month high of $63.53. The company’s 50 day moving average price is $54.54 and its 200-day moving average price is $58.71.
ProAssurance Corporation (NYSE:PRA) last issued its quarterly earnings data on Monday, August 7th. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. ProAssurance Corporation had a return on equity of 6.59% and a net margin of 16.80%. The business had revenue of $205.58 million for the quarter, compared to the consensus estimate of $207.14 million. During the same period in the prior year, the business earned $0.67 earnings per share. The business’s revenue was down 4.3% on a year-over-year basis. On average, equities analysts predict that ProAssurance Corporation will post $2.13 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be given a $0.31 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.24 annualized dividend and a dividend yield of 2.28%. ProAssurance Corporation’s dividend payout ratio is currently 44.60%.
A number of brokerages have issued reports on PRA. Boenning Scattergood reaffirmed a “hold” rating on shares of ProAssurance Corporation in a research note on Tuesday, August 1st. BidaskClub downgraded ProAssurance Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Zacks Investment Research raised ProAssurance Corporation from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research note on Wednesday, July 5th. Finally, Keefe, Bruyette & Woods began coverage on ProAssurance Corporation in a research note on Monday, July 17th. They issued a “market perform” rating and a $61.00 target price for the company. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $61.00.
In other ProAssurance Corporation news, insider Howard H. Friedman bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was purchased at an average cost of $55.00 per share, for a total transaction of $110,000.00. Following the completion of the purchase, the insider now owns 259,573 shares of the company’s stock, valued at approximately $14,276,515. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Edward Lewis Rand, Jr. sold 13,845 shares of the company’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $60.41, for a total value of $836,376.45. Following the completion of the transaction, the insider now owns 117,079 shares of the company’s stock, valued at $7,072,742.39. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 7,000 shares of company stock worth $383,125 and sold 28,000 shares worth $1,703,438. 1.80% of the stock is owned by corporate insiders.
ProAssurance Corporation 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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