OxFORD Asset Management LLP Has $2.71 Million Holdings in ProAssurance Corporation (PRA)
OxFORD Asset Management LLP raised its stake in shares of ProAssurance Corporation (NYSE:PRA) by 63.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,515 shares of the insurance provider’s stock after buying an additional 17,268 shares during the quarter. OxFORD Asset Management LLP owned about 0.08% of ProAssurance Corporation worth $2,707,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ProAssurance Corporation by 8.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,067 shares of the insurance provider’s stock valued at $126,000 after buying an additional 161 shares during the period. First Quadrant L P CA lifted its holdings in shares of ProAssurance Corporation by 124.1% in the second quarter. First Quadrant L P CA now owns 2,465 shares of the insurance provider’s stock worth $150,000 after buying an additional 1,365 shares in the last quarter. Riverhead Capital Management LLC lifted its holdings in shares of ProAssurance Corporation by 60.8% in the second quarter. Riverhead Capital Management LLC now owns 2,895 shares of the insurance provider’s stock worth $176,000 after buying an additional 1,095 shares in the last quarter. Pacad Investment Ltd. lifted its holdings in shares of ProAssurance Corporation by 47.6% in the second quarter. Pacad Investment Ltd. now owns 3,100 shares of the insurance provider’s stock worth $188,000 after buying an additional 1,000 shares in the last quarter. Finally, World Asset Management Inc purchased a new stake in shares of ProAssurance Corporation in the first quarter worth about $204,000. 79.76% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently commented on PRA. Boenning Scattergood reaffirmed a “hold” rating on shares of ProAssurance Corporation in a research note on Tuesday, August 1st. BidaskClub lowered shares of ProAssurance Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Zacks Investment Research upgraded shares of ProAssurance Corporation from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research note on Wednesday, July 5th. Keefe, Bruyette & Woods started coverage on shares of ProAssurance Corporation in a research note on Monday, July 17th. They issued a “market perform” rating and a $61.00 target price on the stock. Finally, Buckingham Research began coverage on shares of ProAssurance Corporation in a research note on Monday, September 11th. They issued a “neutral” rating and a $54.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $61.00.
In other ProAssurance Corporation news, insider Howard H. Friedman bought 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was purchased at an average price of $55.00 per share, for a total transaction of $110,000.00. Following the completion of the transaction, the insider now owns 259,573 shares of the company’s stock, valued at approximately $14,276,515. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey Patton Lisenby sold 6,171 shares of the stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $61.57, for a total value of $379,948.47. Following the sale, the insider now owns 44,238 shares of the company’s stock, valued at approximately $2,723,733.66. The disclosure for this sale can be found here. Insiders bought 7,000 shares of company stock worth $383,125 over the last 90 days. Company insiders own 1.80% of the company’s stock.
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ProAssurance Corporation (NYSE PRA) opened at 55.30 on Wednesday. The company’s 50-day moving average price is $53.88 and its 200 day moving average price is $58.34. ProAssurance Corporation has a 52-week low of $50.50 and a 52-week high of $63.53. The stock has a market capitalization of $2.95 billion, a PE ratio of 19.76 and a beta of 0.54.
ProAssurance Corporation (NYSE:PRA) last issued its quarterly earnings results on Monday, August 7th. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 return on equity of 6.59% and a net margin of 16.80%. ProAssurance Corporation’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 EPS. Equities analysts forecast that ProAssurance Corporation will post $2.11 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be given a $0.31 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.24 annualized dividend and a dividend yield of 2.24%. ProAssurance Corporation’s payout ratio is 44.60%.
ProAssurance Corporation 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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