Louisiana State Employees Retirement System maintained its position in ProAssurance Corporation (NYSE:PRA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,700 shares of the insurance provider’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in ProAssurance Corporation were worth $1,319,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its stake in ProAssurance Corporation by 23,830.8% in the first quarter. BlackRock Inc. now owns 5,194,417 shares of the insurance provider’s stock worth $312,963,000 after buying an additional 5,172,711 shares during the period. Vanguard Group Inc. boosted its stake in ProAssurance Corporation by 5.5% in the first quarter. Vanguard Group Inc. now owns 5,000,763 shares of the insurance provider’s stock worth $301,296,000 after buying an additional 258,955 shares during the period. FMR LLC boosted its stake in ProAssurance Corporation by 17.7% in the first quarter. FMR LLC now owns 2,082,159 shares of the insurance provider’s stock worth $125,450,000 after buying an additional 313,514 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of ProAssurance Corporation by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,700,841 shares of the insurance provider’s stock valued at $102,476,000 after buying an additional 55,591 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of ProAssurance Corporation by 15.6% in the first quarter. State Street Corp now owns 1,232,824 shares of the insurance provider’s stock valued at $74,274,000 after buying an additional 166,133 shares during the last quarter. 81.42% of the stock is currently owned by hedge funds and other institutional investors.
ProAssurance Corporation (PRA) traded down 1.00% during trading on Friday, reaching $54.45. 174,110 shares of the company’s stock traded hands. The company has a market cap of $2.91 billion, a P/E ratio of 19.45 and a beta of 0.51. ProAssurance Corporation has a 12 month low of $50.50 and a 12 month high of $63.53. The firm’s 50 day moving average is $59.27 and its 200 day moving average is $59.23.
ProAssurance Corporation (NYSE:PRA) last issued its quarterly earnings data on Monday, August 7th. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01. ProAssurance Corporation had a net margin of 16.80% and a return on equity of 6.59%. The company had revenue of $205.58 million during the quarter, compared to the consensus estimate of $207.14 million. During the same quarter in the prior year, the firm earned $0.67 earnings per share. The firm’s revenue was down 4.3% compared to the same quarter last year. Analysts anticipate that ProAssurance Corporation will post $2.14 EPS for the current year.
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Several brokerages recently commented on PRA. BidaskClub cut ProAssurance Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded shares of ProAssurance Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 1st. Boenning Scattergood restated a “hold” rating on shares of ProAssurance Corporation in a research report on Tuesday, August 8th. Finally, Keefe, Bruyette & Woods began coverage on shares of ProAssurance Corporation in a research report on Monday, July 17th. They issued a “market perform” rating and a $61.00 price target on the stock. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $63.33.
In related news, insider Howard H. Friedman acquired 2,000 shares of the stock in a transaction dated Wednesday, August 9th. The stock was bought at an average price of $55.00 per share, with a total value of $110,000.00. Following the completion of the transaction, the insider now directly owns 259,573 shares of the company’s stock, valued at $14,276,515. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward Lewis Rand, Jr. sold 13,845 shares of the firm’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $60.41, for a total transaction of $836,376.45. Following the completion of the transaction, the insider now directly owns 117,079 shares of the company’s stock, valued at approximately $7,072,742.39. The disclosure for this sale can be found here. Insiders have sold 28,000 shares of company stock valued at $1,703,438 in the last three months. 1.80% of the stock is owned by insiders.
ProAssurance Corporation 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.
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