Nisa Investment Advisors LLC boosted its position in ProAssurance Co. (NYSE:PRA) by 62.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,900 shares of the insurance provider’s stock after buying an additional 19,500 shares during the period. Nisa Investment Advisors LLC owned approximately 0.10% of ProAssurance worth $2,909,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in ProAssurance by 8.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,067 shares of the insurance provider’s stock worth $126,000 after purchasing an additional 161 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in ProAssurance by 1.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 27,744 shares of the insurance provider’s stock worth $1,687,000 after purchasing an additional 268 shares in the last quarter. M&T Bank Corp boosted its position in ProAssurance by 5.7% in the 2nd quarter. M&T Bank Corp now owns 9,261 shares of the insurance provider’s stock worth $563,000 after purchasing an additional 501 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in ProAssurance by 0.3% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 233,060 shares of the insurance provider’s stock worth $14,170,000 after purchasing an additional 729 shares in the last quarter. Finally, Flinton Capital Management LLC boosted its position in ProAssurance by 55.3% in the 2nd quarter. Flinton Capital Management LLC now owns 2,560 shares of the insurance provider’s stock worth $156,000 after purchasing an additional 912 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.
Shares of ProAssurance Co. (PRA) opened at $55.05 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. ProAssurance Co. has a 52-week low of $50.70 and a 52-week high of $63.45. The company has a market capitalization of $2,945.85, a P/E ratio of 20.46 and a beta of 0.58.
ProAssurance (NYSE:PRA) last released its quarterly earnings data on Monday, November 6th. The insurance provider reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.09. The business had revenue of $228.50 million for the quarter, compared to analyst estimates of $215.12 million. ProAssurance had a return on equity of 6.75% and a net margin of 16.18%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 EPS. sell-side analysts forecast that ProAssurance Co. will post 2.09 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Thursday, December 21st were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Wednesday, December 20th. ProAssurance’s payout ratio is 46.10%.
Several equities research analysts have commented on PRA shares. Zacks Investment Research upgraded ProAssurance from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Wednesday, December 13th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $61.00 price objective on shares of ProAssurance in a research report on Wednesday, December 6th. Finally, Boenning Scattergood restated a “hold” rating on shares of ProAssurance in a research report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $59.50.
In other news, Chairman William Stancil Starnes sold 2,442 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $55.00, for a total transaction of $134,310.00. Following the completion of the transaction, the chairman now directly owns 324,895 shares of the company’s stock, valued at approximately $17,869,225. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 39,074 shares of company stock valued at $2,149,329. Corporate insiders own 1.80% of the company’s stock.
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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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