Russell Investments Group Ltd. lessened its position in shares of ProAssurance Corporation (NYSE:PRA) by 45.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,887 shares of the insurance provider’s stock after selling 33,015 shares during the period. Russell Investments Group Ltd. owned about 0.07% of ProAssurance Corporation worth $2,366,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. lifted its position in shares of ProAssurance Corporation by 1.1% during the 1st quarter. Assetmark Inc. now owns 1,779 shares of the insurance provider’s stock worth $107,000 after buying an additional 20 shares during the last quarter. First Quadrant L P CA raised its position in ProAssurance Corporation by 124.1% in the 2nd quarter. First Quadrant L P CA now owns 2,465 shares of the insurance provider’s stock valued at $150,000 after purchasing an additional 1,365 shares during the last quarter. World Asset Management Inc purchased a new stake in ProAssurance Corporation in the 1st quarter valued at $204,000. Private Advisor Group LLC purchased a new stake in ProAssurance Corporation in the 1st quarter valued at $222,000. Finally, Miles Capital Inc. raised its position in ProAssurance Corporation by 0.3% in the 1st quarter. Miles Capital Inc. now owns 3,681 shares of the insurance provider’s stock valued at $222,000 after purchasing an additional 10 shares during the last quarter. Institutional investors own 79.76% of the company’s stock.
In other ProAssurance Corporation news, insider Edward Lewis Rand, Jr. sold 13,845 shares of the business’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $60.41, for a total value of $836,376.45. Following the transaction, the insider now owns 117,079 shares of the company’s stock, valued at $7,072,742.39. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jeffrey Patton Lisenby sold 4,829 shares of the business’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $61.60, for a total value of $297,466.40. Following the completion of the transaction, the insider now directly owns 50,836 shares in the company, valued at approximately $3,131,497.60. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 7,000 shares of company stock worth $383,125 and sold 28,000 shares worth $1,703,438. Corporate insiders own 1.80% of the company’s stock.
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Shares of ProAssurance Corporation (NYSE:PRA) opened at 53.90 on Friday. The firm has a market capitalization of $2.88 billion, a PE ratio of 19.26 and a beta of 0.54. ProAssurance Corporation has a 52 week low of $50.50 and a 52 week high of $63.53. The company has a 50-day moving average of $55.00 and a 200-day moving average of $58.82.
ProAssurance Corporation (NYSE:PRA) last announced its quarterly earnings results on Monday, August 7th. The insurance provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. ProAssurance Corporation had a return on equity of 6.59% and a net margin of 16.80%. The firm had revenue of $205.58 million for the quarter, compared to analysts’ expectations of $207.14 million. During the same period in the prior year, the business posted $0.67 earnings per share. The business’s revenue was down 4.3% compared to the same quarter last year. On average, equities analysts forecast that ProAssurance Corporation will post $2.13 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Thursday, September 28th. ProAssurance Corporation’s dividend payout ratio (DPR) is 44.60%.
A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of ProAssurance Corporation from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, May 30th. Boenning Scattergood restated a “hold” rating on shares of ProAssurance Corporation in a research report on Tuesday, August 1st. Keefe, Bruyette & Woods assumed coverage on shares of ProAssurance Corporation in a research note on Monday, July 17th. They set a “market perform” rating and a $61.00 price target on the stock. Finally, BidaskClub cut shares of ProAssurance Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $61.00.
About ProAssurance Corporation
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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