Northern Trust Corp increased its holdings in ProAssurance Corporation (NYSE:PRA) by 25.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 550,333 shares of the insurance provider’s stock after acquiring an additional 109,999 shares during the period. Northern Trust Corp owned about 1.03% of ProAssurance Corporation worth $33,462,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PRA. UBS Asset Management Americas Inc. grew its holdings in shares of ProAssurance Corporation by 14.1% in the first quarter. UBS Asset Management Americas Inc. now owns 44,995 shares of the insurance provider’s stock valued at $2,711,000 after acquiring an additional 5,574 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of ProAssurance Corporation by 4.0% in the first quarter. Prudential Financial Inc. now owns 101,820 shares of the insurance provider’s stock valued at $6,135,000 after acquiring an additional 3,910 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in shares of ProAssurance Corporation by 34.5% in the first quarter. Neuberger Berman Group LLC now owns 6,637 shares of the insurance provider’s stock valued at $400,000 after acquiring an additional 1,703 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in shares of 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 valued at $731,000 after acquiring an additional 100 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its holdings in shares of ProAssurance Corporation by 27.0% in the first quarter. OppenheimerFunds Inc. now owns 10,745 shares of the insurance provider’s stock valued at $647,000 after acquiring an additional 2,286 shares in the last quarter. 79.76% of the stock is owned by institutional investors.

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

Several equities analysts have recently issued reports on PRA shares. BidaskClub lowered ProAssurance Corporation from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Zacks Investment Research raised ProAssurance Corporation from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a report on Wednesday, July 5th. Keefe, Bruyette & Woods started coverage on ProAssurance Corporation in a report on Monday, July 17th. They issued a “market perform” rating and a $61.00 target price for the company. Boenning Scattergood reaffirmed a “hold” rating on shares of ProAssurance Corporation in a report on Tuesday, August 1st. Finally, Buckingham Research started coverage on ProAssurance Corporation in a report on Monday, September 11th. They issued a “neutral” rating and a $54.00 target price for the company. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. ProAssurance Corporation has an average rating of “Hold” and a consensus price target of $60.75.

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ProAssurance Corporation (PRA) opened at 55.95 on Tuesday. ProAssurance Corporation has a one year low of $50.50 and a one year high of $63.53. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 19.99 and a beta of 0.54. The firm’s 50-day moving average price is $54.12 and its 200 day moving average price is $58.10.

ProAssurance Corporation (NYSE:PRA) last posted its earnings results on Monday, August 7th. The insurance provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. ProAssurance Corporation had a net margin of 16.80% and a return on equity of 6.59%. The business had revenue of $205.58 million during the quarter, compared to the consensus estimate of $207.14 million. During the same quarter in the previous year, the firm posted $0.67 EPS. The firm’s revenue was down 4.3% on a year-over-year basis. On average, equities research analysts expect that ProAssurance Corporation will post $2.02 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Thursday, September 28th. ProAssurance Corporation’s dividend payout ratio (DPR) is presently 44.60%.

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

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