Ameriprise Financial Inc. lowered its stake in ProAssurance Corporation (NYSE:PRA) by 2.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 288,575 shares of the insurance provider’s stock after selling 5,911 shares during the period. Ameriprise Financial Inc. owned about 0.54% of ProAssurance worth $15,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in ProAssurance by 8.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,067 shares of the insurance provider’s stock valued at $126,000 after purchasing an additional 161 shares in the last quarter. Flinton Capital Management LLC raised its position in ProAssurance by 55.3% in the 2nd quarter. Flinton Capital Management LLC now owns 2,560 shares of the insurance provider’s stock valued at $156,000 after purchasing an additional 912 shares in the last quarter. Riverhead Capital Management LLC raised its position in ProAssurance by 60.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,895 shares of the insurance provider’s stock valued at $176,000 after purchasing an additional 1,095 shares in the last quarter. Pacad Investment Ltd. raised its position in ProAssurance by 47.6% in the 2nd quarter. Pacad Investment Ltd. now owns 3,100 shares of the insurance provider’s stock valued at $188,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in ProAssurance in the 2nd quarter valued at about $211,000. 80.23% of the stock is currently owned by institutional investors.

Shares of ProAssurance Corporation (NYSE PRA) traded down $0.25 during midday trading on Friday, hitting $60.85. The stock had a trading volume of 194,300 shares, compared to its average volume of 152,551. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. ProAssurance Corporation has a 1-year low of $50.70 and a 1-year high of $63.53. The firm has a market cap of $3,263.67, a price-to-earnings ratio of 26.57 and a beta of 0.58.

ProAssurance (NYSE:PRA) last issued its earnings results on Monday, November 6th. The insurance provider reported $0.45 earnings per share for the quarter, topping the 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 business had revenue of $228.50 million for the quarter, compared to analyst estimates of $215.12 million. During the same quarter last year, the company earned $0.46 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. sell-side analysts forecast that ProAssurance Corporation will post 2.09 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Thursday, December 21st will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Wednesday, December 20th. ProAssurance’s dividend payout ratio (DPR) is presently 46.10%.

PRA has been the topic of a number of analyst reports. Buckingham Research initiated coverage on ProAssurance in a research report on Monday, September 11th. They issued a “neutral” rating and a $54.00 price target on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $60.00 price target on shares of ProAssurance in a research report on Monday, October 16th. Boenning Scattergood reaffirmed a “hold” rating on shares of ProAssurance in a research report on Tuesday, November 7th. Finally, Zacks Investment Research raised ProAssurance from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $60.75.

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ProAssurance Company 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.

Institutional Ownership by Quarter for ProAssurance (NYSE:PRA)

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