Victory Capital Management Inc. lowered its holdings in ProAssurance Co. (NYSE:PRA) by 36.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,188,295 shares of the insurance provider’s stock after selling 673,776 shares during the period. Victory Capital Management Inc. owned approximately 2.22% of ProAssurance worth $41,127,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Boston Partners raised its stake in shares of ProAssurance by 3.0% in the first quarter. Boston Partners now owns 726,025 shares of the insurance provider’s stock valued at $25,127,000 after acquiring an additional 21,116 shares during the last quarter. Texas Permanent School Fund raised its stake in shares of ProAssurance by 3.8% in the first quarter. Texas Permanent School Fund now owns 36,418 shares of the insurance provider’s stock valued at $1,260,000 after acquiring an additional 1,319 shares during the last quarter. Rhumbline Advisers raised its stake in shares of ProAssurance by 1.2% in the first quarter. Rhumbline Advisers now owns 159,746 shares of the insurance provider’s stock valued at $5,529,000 after acquiring an additional 1,900 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of ProAssurance by 375.0% in the first quarter. Quadrant Capital Group LLC now owns 855 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 675 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of ProAssurance by 0.3% in the first quarter. Bank of Montreal Can now owns 338,751 shares of the insurance provider’s stock valued at $11,724,000 after acquiring an additional 943 shares during the last quarter. Institutional investors own 80.23% of the company’s stock.
PRA stock traded up $0.47 during trading on Thursday, hitting $39.00. The company had a trading volume of 5,478 shares, compared to its average volume of 295,355. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.37 and a quick ratio of 0.37. ProAssurance Co. has a 12 month low of $34.11 and a 12 month high of $49.47. The stock has a market capitalization of $2.06 billion, a PE ratio of 26.38 and a beta of 0.65.
ProAssurance (NYSE:PRA) last posted its quarterly earnings data on Thursday, April 25th. The insurance provider reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.23). ProAssurance had a return on equity of 3.98% and a net margin of 7.01%. The company had revenue of $268.88 million during the quarter, compared to the consensus estimate of $238.55 million. During the same quarter last year, the firm earned $0.40 EPS. The business’s revenue for the quarter was up 33.8% on a year-over-year basis. As a group, equities analysts expect that ProAssurance Co. will post 0.72 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Friday, March 29th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Thursday, March 28th. ProAssurance’s dividend payout ratio (DPR) is presently 83.78%.
PRA has been the subject of a number of research analyst reports. Boenning Scattergood reiterated a “hold” rating on shares of ProAssurance in a research note on Tuesday, February 26th. ValuEngine upgraded shares of ProAssurance from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, 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 note on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $47.00.
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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