Insider Selling: ProAssurance Corporation (PRA) Chairman Sells 10,736 Shares of Stock

ProAssurance Corporation (NYSE:PRA) Chairman William Stancil Starnes sold 10,736 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $55.00, for a total value of $590,480.00. Following the completion of the sale, the chairman now owns 267,036 shares of the company’s stock, valued at approximately $14,686,980. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

William Stancil Starnes also recently made the following trade(s):

  • On Friday, January 12th, William Stancil Starnes sold 25,896 shares of ProAssurance stock. The shares were sold at an average price of $55.01, for a total value of $1,424,538.96.
  • On Wednesday, January 10th, William Stancil Starnes sold 2,442 shares of ProAssurance stock. The shares were sold at an average price of $55.00, for a total value of $134,310.00.

Shares of ProAssurance Corporation (PRA) traded up $0.20 during trading hours on Wednesday, reaching $55.15. 302,050 shares of the company were exchanged, compared to its average volume of 242,764. The company has a market capitalization of $2,950.00, a P/E ratio of 20.43 and a beta of 0.58. ProAssurance Corporation has a 52 week low of $50.70 and a 52 week high of $63.45. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22.

ProAssurance (NYSE:PRA) last issued its quarterly earnings data on Monday, November 6th. The insurance provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. The company had revenue of $228.50 million during the quarter, compared to the consensus estimate of $215.12 million. ProAssurance had a net margin of 16.18% and a return on equity of 6.75%. ProAssurance’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 earnings per share. equities analysts anticipate that ProAssurance Corporation will post 2.09 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Thursday, December 21st were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Wednesday, December 20th. ProAssurance’s dividend payout ratio (DPR) is 45.93%.

A number of analysts recently issued reports on PRA shares. Zacks Investment Research lowered ProAssurance from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $61.00 price target on shares of ProAssurance in a report on Wednesday, December 6th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of ProAssurance in a report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. ProAssurance has a consensus rating of “Hold” and an average price target of $59.50.

Large investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in ProAssurance by 8.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,067 shares of the insurance provider’s stock worth $126,000 after buying an additional 161 shares in the last quarter. Flinton Capital Management LLC raised its stake in ProAssurance by 55.3% in the second quarter. Flinton Capital Management LLC now owns 2,560 shares of the insurance provider’s stock worth $156,000 after buying an additional 912 shares in the last quarter. Riverhead Capital Management LLC raised its stake in ProAssurance by 60.8% in the second quarter. Riverhead Capital Management LLC now owns 2,895 shares of the insurance provider’s stock worth $176,000 after buying an additional 1,095 shares in the last quarter. Verition Fund Management LLC bought a new position in ProAssurance in the second quarter worth approximately $211,000. Finally, FineMark National Bank & Trust bought a new position in ProAssurance in the third quarter worth approximately $223,000. 80.13% of the stock is owned by institutional investors.

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About ProAssurance

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.

Insider Buying and Selling by Quarter for ProAssurance (NYSE:PRA)

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