California Public Employees Retirement System trimmed its holdings in ProAssurance Co. (NYSE:PRA) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,079 shares of the insurance provider’s stock after selling 3,246 shares during the period. California Public Employees Retirement System owned 0.20% of ProAssurance worth $4,343,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Strs Ohio grew its position in ProAssurance by 25.0% in the fourth quarter. Strs Ohio now owns 1,500 shares of the insurance provider’s stock worth $60,000 after acquiring an additional 300 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of ProAssurance by 95.2% in the third quarter. PNC Financial Services Group Inc. now owns 2,360 shares of the insurance provider’s stock worth $111,000 after buying an additional 1,151 shares during the last quarter. Larson Financial Group LLC acquired a new stake in shares of ProAssurance in the fourth quarter worth $158,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of ProAssurance by 27.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,974 shares of the insurance provider’s stock worth $161,000 after buying an additional 865 shares during the last quarter. Finally, Neuberger Berman Group LLC acquired a new stake in shares of ProAssurance in the third quarter worth $211,000. 83.03% of the stock is owned by institutional investors.
Shares of ProAssurance stock opened at $37.52 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.19. ProAssurance Co. has a 1-year low of $34.95 and a 1-year high of $50.78. The firm has a market capitalization of $2.01 billion, a PE ratio of 25.35 and a beta of 0.65.
ProAssurance (NYSE:PRA) last issued its quarterly earnings data on Thursday, February 21st. The insurance provider reported $0.18 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.18. ProAssurance had a net margin of 5.31% and a return on equity of 5.09%. The business had revenue of $228.92 million during the quarter, compared to analysts’ expectations of $230.73 million. As a group, analysts anticipate that ProAssurance Co. will post 1.4 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders 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 dividend yield of 3.30%. The ex-dividend date is Thursday, March 28th. ProAssurance’s payout ratio is 83.78%.
PRA has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of ProAssurance from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. SunTrust Banks reduced their price objective on shares of ProAssurance to $45.00 and set a “hold” rating for the company in a research note on Friday, December 14th. They noted that the move was a valuation call. Finally, Boenning Scattergood restated a “hold” rating on shares of ProAssurance in a research note on Tuesday, February 26th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. ProAssurance presently has an average rating of “Hold” and a consensus price target of $49.40.
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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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