ProAssurance Corporation (PRA) Position Boosted by Vanguard Group Inc.

Vanguard Group Inc. increased its holdings in ProAssurance Corporation (NYSE:PRA) by 1.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,051,135 shares of the insurance provider’s stock after buying an additional 50,372 shares during the quarter. Vanguard Group Inc. owned about 9.46% of ProAssurance Corporation worth $307,108,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Miles Capital Inc. lifted its position in ProAssurance Corporation by 0.3% in the first quarter. Miles Capital Inc. now owns 3,681 shares of the insurance provider’s stock worth $222,000 after purchasing an additional 10 shares during the period. Teacher Retirement System of Texas lifted its position in ProAssurance Corporation by 0.7% in the second quarter. Teacher Retirement System of Texas now owns 4,243 shares of the insurance provider’s stock worth $258,000 after purchasing an additional 30 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in ProAssurance Corporation by 0.8% in the first quarter. Municipal Employees Retirement System of Michigan now owns 12,130 shares of the insurance provider’s stock worth $731,000 after purchasing an additional 100 shares during the period. Arizona State Retirement System lifted its position in ProAssurance Corporation by 0.4% in the second quarter. Arizona State Retirement System now owns 27,800 shares of the insurance provider’s stock worth $1,690,000 after purchasing an additional 100 shares during the period. Finally, Hartford Investment Management Co. lifted its position in ProAssurance Corporation by 3.6% in the second quarter. Hartford Investment Management Co. now owns 3,728 shares of the insurance provider’s stock worth $227,000 after purchasing an additional 130 shares during the period. 79.76% of the stock is owned by institutional investors and hedge funds.

A number of research firms have weighed in on PRA. Boenning Scattergood restated a “hold” rating on shares of ProAssurance Corporation in a research report on Tuesday, August 8th. Zacks Investment Research downgraded ProAssurance Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. BidaskClub downgraded ProAssurance Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Keefe, Bruyette & Woods began coverage on ProAssurance Corporation in a research report on Monday, July 17th. They issued a “market perform” rating and a $61.00 target price for the company. Finally, Buckingham Research began coverage on ProAssurance Corporation in a research report on Monday, September 11th. They issued a “neutral” rating and a $54.00 target price for the company. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company has an average rating of “Hold” and a consensus target price of $61.00.

COPYRIGHT VIOLATION NOTICE: “ProAssurance Corporation (PRA) Position Boosted by Vanguard Group Inc.” was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international copyright and trademark laws. The correct version of this piece of content can be viewed at https://ledgergazette.com/2017/10/10/proassurance-corporation-pra-position-boosted-by-vanguard-group-inc.html.

In related news, insider Neil Frank B. O purchased 2,500 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was acquired at an average price of $54.50 per share, with a total value of $136,250.00. Following the completion of the acquisition, the insider now directly owns 104,431 shares in the company, valued at approximately $5,691,489.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Howard H. Friedman purchased 2,000 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was bought at an average cost of $55.00 per share, with a total value of $110,000.00. Following the acquisition, the insider now owns 259,573 shares of the company’s stock, valued at $14,276,515. The disclosure for this purchase can be found here. In the last three months, insiders purchased 7,000 shares of company stock valued at $383,125. 1.80% of the stock is currently owned by company insiders.

Shares of ProAssurance Corporation (NYSE PRA) opened at 55.30 on Tuesday. The firm has a market capitalization of $2.95 billion, a P/E ratio of 19.76 and a beta of 0.54. The firm has a 50-day moving average price of $53.93 and a 200-day moving average price of $58.22. ProAssurance Corporation has a 52-week low of $50.50 and a 52-week high of $63.53.

ProAssurance Corporation (NYSE:PRA) last issued 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. The business had revenue of $205.58 million during the quarter, compared to analyst estimates of $207.14 million. ProAssurance Corporation had a net margin of 16.80% and a return on equity of 6.59%. ProAssurance Corporation’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 earnings per share. On average, equities research analysts anticipate that ProAssurance Corporation will post $2.11 EPS for the current year.

The business also recently declared a quarterly dividend, which

A number of other hedge funds have also modified their holdings of the stock. Miles Capital Inc. lifted its position in ProAssurance Corporation by 0.3% in the first quarter. Miles Capital Inc. now owns 3,681 shares of the insurance provider’s stock worth $222,000 after purchasing an additional 10 shares during the period. Teacher Retirement System of Texas lifted its position in ProAssurance Corporation by 0.7% in the second quarter. Teacher Retirement System of Texas now owns 4,243 shares of the insurance provider’s stock worth $258,000 after purchasing an additional 30 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in ProAssurance Corporation by 0.8% in the first quarter. Municipal Employees Retirement System of Michigan now owns 12,130 shares of the insurance provider’s stock worth $731,000 after purchasing an additional 100 shares during the period. Arizona State Retirement System lifted its position in ProAssurance Corporation by 0.4% in the second quarter. Arizona State Retirement System now owns 27,800 shares of the insurance provider’s stock worth $1,690,000 after purchasing an additional 100 shares during the period. Finally, Hartford Investment Management Co. lifted its position in ProAssurance Corporation by 3.6% in the second quarter. Hartford Investment Management Co. now owns 3,728 shares of the insurance provider’s stock worth $227,000 after purchasing an additional 130 shares during the period. 79.76% of the stock is owned by institutional investors and hedge funds.

A number of research firms have weighed in on PRA. Boenning Scattergood restated a “hold” rating on shares of ProAssurance Corporation in a research report on Tuesday, August 8th. Zacks Investment Research downgraded ProAssurance Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. BidaskClub downgraded ProAssurance Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Keefe, Bruyette & Woods began coverage on ProAssurance Corporation in a research report on Monday, July 17th. They issued a “market perform” rating and a $61.00 target price for the company. Finally, Buckingham Research began coverage on ProAssurance Corporation in a research report on Monday, September 11th. They issued a “neutral” rating and a $54.00 target price for the company. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company has an average rating of “Hold” and a consensus target price of $61.00.

COPYRIGHT VIOLATION NOTICE: “ProAssurance Corporation (PRA) Position Boosted by Vanguard Group Inc.” was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international copyright and trademark laws. The correct version of this piece of content can be viewed at https://ledgergazette.com/2017/10/10/proassurance-corporation-pra-position-boosted-by-vanguard-group-inc.html.

In related news, insider Neil Frank B. O purchased 2,500 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was acquired at an average price of $54.50 per share, with a total value of $136,250.00. Following the completion of the acquisition, the insider now directly owns 104,431 shares in the company, valued at approximately $5,691,489.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Howard H. Friedman purchased 2,000 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was bought at an average cost of $55.00 per share, with a total value of $110,000.00. Following the acquisition, the insider now owns 259,573 shares of the company’s stock, valued at $14,276,515. The disclosure for this purchase can be found here. In the last three months, insiders purchased 7,000 shares of company stock valued at $383,125. 1.80% of the stock is currently owned by company insiders.

Shares of ProAssurance Corporation (NYSE PRA) opened at 55.30 on Tuesday. The firm has a market capitalization of $2.95 billion, a P/E ratio of 19.76 and a beta of 0.54. The firm has a 50-day moving average price of $53.93 and a 200-day moving average price of $58.22. ProAssurance Corporation has a 52-week low of $50.50 and a 52-week high of $63.53.

ProAssurance Corporation (NYSE:PRA) last issued 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. The business had revenue of $205.58 million during the quarter, compared to analyst estimates of $207.14 million. ProAssurance Corporation had a net margin of 16.80% and a return on equity of 6.59%. ProAssurance Corporation’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 earnings per share. On average, equities research analysts anticipate that ProAssurance Corporation will post $2.11 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, September 28th. ProAssurance Corporation’s dividend payout ratio is currently 44.60%.

ProAssurance Corporation Company Profile

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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Institutional Ownership by Quarter for ProAssurance Corporation (NYSE:PRA)

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