ProAssurance Corporation (PRA) Shares Sold by Rhumbline Advisers
Rhumbline Advisers decreased its stake in ProAssurance Corporation (NYSE:PRA) by 4.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,154 shares of the insurance provider’s stock after selling 5,017 shares during the period. Rhumbline Advisers owned 0.20% of ProAssurance Corporation worth $6,637,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in PRA. Miles Capital Inc. raised its stake in shares of ProAssurance Corporation by 0.3% in the first quarter. Miles Capital Inc. now owns 3,681 shares of the insurance provider’s stock valued at $222,000 after buying an additional 10 shares in the last quarter. Assetmark Inc. raised its position in ProAssurance Corporation by 1.1% in the first quarter. Assetmark Inc. now owns 1,779 shares of the insurance provider’s stock worth $107,000 after buying an additional 20 shares in the last quarter. Teacher Retirement System of Texas raised 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 buying an additional 30 shares in the last quarter. M&T Bank Corp raised its position in ProAssurance Corporation by 0.5% in the first quarter. M&T Bank Corp now owns 8,760 shares of the insurance provider’s stock worth $528,000 after buying an additional 40 shares in the last quarter. Finally, Bridgeworth LLC raised its position in ProAssurance Corporation by 1.3% in the first quarter. Bridgeworth LLC now owns 5,978 shares of the insurance provider’s stock worth $359,000 after buying an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 79.76% of the company’s stock.
ProAssurance Corporation (NYSE:PRA) opened at 53.30 on Tuesday. The firm has a 50-day moving average of $58.17 and a 200-day moving average of $59.20. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 19.04 and a beta of 0.51. ProAssurance Corporation has a 1-year low of $50.50 and a 1-year high of $63.53.
ProAssurance Corporation (NYSE:PRA) last released its quarterly earnings results on Monday, August 7th. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. ProAssurance Corporation had a return on equity of 6.59% and a net margin of 16.80%. The business had revenue of $205.58 million during the quarter, compared to analysts’ expectations of $207.14 million. During the same period in the previous year, the business posted $0.67 earnings per share. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, analysts expect that ProAssurance Corporation will post $2.14 earnings per share for the current year.
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A number of research firms have commented on PRA. BidaskClub lowered shares of ProAssurance Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research upgraded shares of ProAssurance Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 1st. Boenning Scattergood restated a “hold” rating on shares of ProAssurance Corporation in a research note on Tuesday, August 8th. Finally, Keefe, Bruyette & Woods began coverage on shares of ProAssurance Corporation in a research note on Monday, July 17th. They issued a “market perform” rating and a $61.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. ProAssurance Corporation has an average rating of “Hold” and an average price target of $63.33.
In other news, insider Neil Frank B. O acquired 2,500 shares of the company’s stock in a transaction on Friday, August 18th. The stock was purchased at an average cost of $54.50 per share, with a total value of $136,250.00. Following the acquisition, the insider now owns 104,431 shares of the company’s stock, valued at approximately $5,691,489.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey Patton Lisenby sold 4,829 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $61.60, for a total value of $297,466.40. Following the sale, the insider now directly owns 50,836 shares of the company’s stock, valued at $3,131,497.60. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 7,000 shares of company stock valued at $383,125 and sold 28,000 shares valued at $1,703,438. Insiders own 1.80% of the company’s stock.
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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