JPMorgan Chase & Co. lifted its position in shares of ProAssurance Corporation (NYSE:PRA) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,142,632 shares of the insurance provider’s stock after acquiring an additional 24,219 shares during the quarter. JPMorgan Chase & Co. owned approximately 4.01% of ProAssurance worth $116,988,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of PRA. Teacher Retirement System of Texas lifted its holdings in ProAssurance by 0.7% during the 2nd 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 in the last quarter. Arizona State Retirement System lifted its holdings in ProAssurance by 0.4% during the 2nd 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 in the last quarter. Hartford Investment Management Co. lifted its holdings in ProAssurance by 3.6% during the 2nd 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 in the last quarter. World Asset Management Inc lifted its holdings in ProAssurance by 4.0% during the 2nd quarter. World Asset Management Inc now owns 3,515 shares of the insurance provider’s stock worth $214,000 after purchasing an additional 134 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in ProAssurance by 8.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,067 shares of the insurance provider’s stock worth $126,000 after purchasing an additional 161 shares in the last quarter. Institutional investors own 80.23% of the company’s stock.
Shares of ProAssurance Corporation (NYSE PRA) traded down $0.15 during midday trading on Tuesday, hitting $61.05. The company had a trading volume of 145,100 shares, compared to its average volume of 152,265. The stock has a market cap of $3,269.01, a PE ratio of 26.61 and a beta of 0.58. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. ProAssurance Corporation has a 52 week low of $50.70 and a 52 week high of $63.53.
ProAssurance (NYSE:PRA) last announced its quarterly earnings data on Monday, November 6th. The insurance provider reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.09. ProAssurance had a return on equity of 6.75% and a net margin of 16.18%. The company had revenue of $228.50 million for the quarter, compared to analysts’ expectations of $215.12 million. During the same period last year, the firm posted $0.46 EPS. ProAssurance’s revenue for the quarter was up 1.9% compared to the same quarter last year. sell-side analysts anticipate that ProAssurance Corporation will post 2.09 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Thursday, December 21st will be given a dividend of $0.31 per share. The ex-dividend date is Wednesday, December 20th. This represents a $1.24 annualized dividend and a yield of 2.03%. ProAssurance’s payout ratio is 46.10%.
PRA has been the topic of a number of recent research reports. Buckingham Research initiated coverage on ProAssurance in a report on Monday, September 11th. They set a “neutral” rating and a $54.00 price objective on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $60.00 price target on shares of ProAssurance in a report on Monday, October 16th. Boenning Scattergood reaffirmed a “hold” rating on shares of ProAssurance in a report on Tuesday, November 7th. Finally, Zacks Investment Research raised ProAssurance from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $61.00.
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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