Wells Fargo & Company MN Trims Stake in Protective Insurance Co. (NASDAQ:PTVCB)


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Wells Fargo & Company MN decreased its position in shares of Protective Insurance Co. (NASDAQ:PTVCB) by 10.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,718 shares of the company’s stock after selling 9,471 shares during the period. Wells Fargo & Company MN owned 0.56% of Protective Insurance worth $1,093,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Raymond James & Associates boosted its stake in shares of Protective Insurance by 7.7% during the third quarter. Raymond James & Associates now owns 12,824 shares of the company’s stock worth $168,000 after buying an additional 919 shares during the period. Penbrook Management LLC purchased a new stake in Protective Insurance during the 4th quarter valued at approximately $104,000. Finally, BlackRock Inc. lifted its position in Protective Insurance by 3.2% during the 4th quarter. BlackRock Inc. now owns 980,254 shares of the company’s stock worth $13,440,000 after acquiring an additional 30,398 shares during the period. Institutional investors own 45.77% of the company’s stock.

Shares of Protective Insurance stock opened at $22.96 on Thursday. The firm has a market cap of $325.02 million, a price-to-earnings ratio of -85.04 and a beta of 0.56. Protective Insurance Co. has a 52-week low of $11.69 and a 52-week high of $23.17. The company’s 50-day simple moving average is $22.96 and its 200-day simple moving average is $16.38.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 10th. Shareholders of record on Friday, March 5th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.74%. The ex-dividend date was Thursday, March 4th.

Protective Insurance Company Profile

Protective Insurance Corporation, through its subsidiaries, engages in marketing and underwriting of property and casualty insurance products. It offers commercial automobile insurance products, such as commercial motor vehicle liability, physical damage, and general liability insurance; workers compensation insurance; medical and indemnity insurance products; non-trucking motor vehicle liability insurance; fidelity and surety bonds; and inland marine insurance products consisting of cargo insurance, as well as workers' compensation insurance for the commercial automobile industry.

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Institutional Ownership by Quarter for Protective Insurance (NASDAQ:PTVCB)

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