ProAssurance Co. (NYSE:PRA) – Equities researchers at SunTrust Banks decreased their Q1 2018 earnings estimates for ProAssurance in a research report issued to clients and investors on Monday. SunTrust Banks analyst M. Hughes now expects that the insurance provider will post earnings per share of $0.39 for the quarter, down from their previous estimate of $0.45. SunTrust Banks also issued estimates for ProAssurance’s Q2 2018 earnings at $0.41 EPS, Q3 2018 earnings at $0.41 EPS and FY2018 earnings at $1.75 EPS.
ProAssurance (NYSE:PRA) last announced its quarterly earnings results on Wednesday, February 21st. The insurance provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.07). ProAssurance had a return on equity of 6.11% and a net margin of 12.38%. The firm had revenue of $209.12 million during the quarter, compared to analysts’ expectations of $217.03 million. During the same period in the previous year, the company posted $0.83 earnings per share. The company’s quarterly revenue was down 12.0% compared to the same quarter last year.
Shares of ProAssurance (PRA) opened at $50.25 on Wednesday. ProAssurance has a fifty-two week low of $46.90 and a fifty-two week high of $63.45. The stock has a market cap of $2,670.18, a PE ratio of 24.73 and a beta of 0.59. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.46 and a quick ratio of 0.46.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Thursday, March 29th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Wednesday, March 28th. ProAssurance’s dividend payout ratio (DPR) is 62.31%.
In related news, Chairman William Stancil Starnes sold 2,442 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $55.00, for a total value of $134,310.00. Following the transaction, the chairman now directly owns 324,895 shares in the company, valued at $17,869,225. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 39,074 shares of company stock worth $2,149,329. 1.80% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of PRA. JPMorgan Chase & Co. grew its position in ProAssurance by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 2,142,632 shares of the insurance provider’s stock valued at $116,988,000 after acquiring an additional 24,219 shares during the last quarter. GSA Capital Partners LLP bought a new position in ProAssurance during the third quarter valued at approximately $1,565,000. Sei Investments Co. grew its position in ProAssurance by 3.2% during the third quarter. Sei Investments Co. now owns 281,413 shares of the insurance provider’s stock valued at $15,379,000 after acquiring an additional 8,675 shares during the last quarter. Susquehanna International Group LLP grew its position in ProAssurance by 10.4% during the third quarter. Susquehanna International Group LLP now owns 67,361 shares of the insurance provider’s stock valued at $3,681,000 after acquiring an additional 6,367 shares during the last quarter. Finally, Pinebridge Investments L.P. grew its position in ProAssurance by 54.3% during the fourth quarter. Pinebridge Investments L.P. now owns 75,211 shares of the insurance provider’s stock valued at $4,299,000 after acquiring an additional 26,467 shares during the last quarter. Institutional investors own 82.69% of the company’s stock.
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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