Cim Investment Mangement Inc. Sells 259 Shares of ProAssurance Corporation (PRA)
Cim Investment Mangement Inc. lowered its stake in shares of ProAssurance Corporation (NYSE:PRA) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,180 shares of the insurance provider’s stock after selling 259 shares during the period. Cim Investment Mangement Inc.’s holdings in ProAssurance Corporation were worth $497,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in PRA. BlackRock Inc. raised its stake in shares of ProAssurance Corporation by 23,830.8% in the first quarter. BlackRock Inc. now owns 5,194,417 shares of the insurance provider’s stock valued at $312,963,000 after buying an additional 5,172,711 shares during the period. FMR LLC raised its stake in shares of ProAssurance Corporation by 17.7% in the first quarter. FMR LLC now owns 2,082,159 shares of the insurance provider’s stock valued at $125,450,000 after buying an additional 313,514 shares during the period. Vanguard Group Inc. raised its stake in shares of ProAssurance Corporation by 5.5% in the first quarter. Vanguard Group Inc. now owns 5,000,763 shares of the insurance provider’s stock valued at $301,296,000 after buying an additional 258,955 shares during the period. Epoch Investment Partners Inc. raised its stake in shares of ProAssurance Corporation by 151.8% in the first quarter. Epoch Investment Partners Inc. now owns 298,849 shares of the insurance provider’s stock valued at $18,005,000 after buying an additional 180,151 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of ProAssurance Corporation by 54.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 470,404 shares of the insurance provider’s stock valued at $28,600,000 after buying an additional 166,561 shares during the period. Institutional investors own 79.76% of the company’s stock.
ProAssurance Corporation (NYSE PRA) opened at 53.35 on Thursday. ProAssurance Corporation has a one year low of $50.50 and a one year high of $63.53. The firm’s 50-day moving average is $58.17 and its 200 day moving average is $59.20. The stock has a market cap of $2.85 billion, a P/E ratio of 19.06 and a beta of 0.51.
ProAssurance Corporation (NYSE:PRA) last released its quarterly earnings results on Monday, August 7th. The insurance provider reported $0.40 EPS for the quarter, topping the Thomson Reuters’ 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 quarter in the prior year, the business earned $0.67 earnings per share. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, analysts anticipate that ProAssurance Corporation will post $2.14 EPS for the current fiscal year.
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Several analysts recently issued reports on PRA shares. Zacks Investment Research lowered shares of ProAssurance Corporation from a “buy” rating to a “hold” rating in a research report on Monday, June 5th. BidaskClub lowered shares of ProAssurance Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Keefe, Bruyette & Woods started coverage on shares of ProAssurance Corporation in a research report on Monday, July 17th. They set a “market perform” rating and a $61.00 target price for the company. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $63.33.
In related news, insider Neil Frank B. O purchased 2,500 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was acquired at an average price of $54.75 per share, for a total transaction of $136,875.00. Following the completion of the purchase, the insider now directly owns 101,931 shares of the company’s stock, valued at $5,580,722.25. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Edward Lewis Rand, Jr. sold 3,155 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $60.11, for a total value of $189,647.05. Following the sale, the insider now owns 120,014 shares of the company’s stock, valued at approximately $7,214,041.54. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 7,000 shares of company stock valued at $383,125 and have sold 28,000 shares valued at $1,703,438. 1.80% of the stock is owned by corporate insiders.
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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