Welch Group LLC Boosts Position in ProAssurance Co. (PRA)
Welch Group LLC boosted its stake in shares of ProAssurance Co. (NYSE:PRA) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,528 shares of the insurance provider’s stock after buying an additional 1,039 shares during the quarter. Welch Group LLC owned approximately 0.08% of ProAssurance worth $1,507,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in ProAssurance by 5.6% during the third quarter. Vanguard Group Inc. now owns 5,642,913 shares of the insurance provider’s stock valued at $264,934,000 after buying an additional 300,330 shares during the period. Vanguard Group Inc boosted its position in ProAssurance by 5.6% during the third quarter. Vanguard Group Inc now owns 5,642,913 shares of the insurance provider’s stock worth $264,934,000 after purchasing an additional 300,330 shares during the period. Victory Capital Management Inc. boosted its position in ProAssurance by 0.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,862,071 shares of the insurance provider’s stock worth $75,526,000 after purchasing an additional 6,638 shares during the period. Rehmann Capital Advisory Group boosted its position in ProAssurance by 4,590.9% during the third quarter. Rehmann Capital Advisory Group now owns 1,731,983 shares of the insurance provider’s stock worth $36,889,000 after purchasing an additional 1,695,061 shares during the period. Finally, Royce & Associates LP boosted its position in ProAssurance by 2.5% during the fourth quarter. Royce & Associates LP now owns 1,627,465 shares of the insurance provider’s stock worth $66,010,000 after purchasing an additional 39,052 shares during the period. Institutional investors own 84.54% of the company’s stock.
A number of brokerages have weighed in on PRA. JMP Securities cut their target price on shares of ProAssurance from $50.00 to $45.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 10th. ValuEngine lowered shares of ProAssurance from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Boenning Scattergood reiterated a “hold” rating on shares of ProAssurance in a research report on Tuesday, February 26th. Finally, Zacks Investment Research upgraded shares of ProAssurance from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. ProAssurance presently has a consensus rating of “Hold” and an average price target of $47.00.
ProAssurance (NYSE:PRA) last released its quarterly earnings data on Thursday, February 21st. The insurance provider reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. ProAssurance had a net margin of 5.31% and a return on equity of 5.09%. The company had revenue of $228.92 million during the quarter, compared to analyst estimates of $230.73 million. Sell-side analysts predict that ProAssurance Co. will post 1.4 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Friday, March 29th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Thursday, March 28th. ProAssurance’s dividend payout ratio is currently 83.78%.
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ProAssurance Company Profile
ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers' Compensation Insurance, Segregated Portfolio Cell Reinsurance, and Lloyd's Syndicate segments.
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