Citadel Advisors LLC Grows Position in ProAssurance Corporation (PRA)
Citadel Advisors LLC increased its holdings in ProAssurance Corporation (NYSE:PRA) by 331.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,591 shares of the insurance provider’s stock after purchasing an additional 81,875 shares during the quarter. Citadel Advisors LLC owned 0.20% of ProAssurance worth $5,825,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of ProAssurance by 8.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,067 shares of the insurance provider’s stock worth $126,000 after purchasing an additional 161 shares in the last quarter. First Quadrant L P CA raised its holdings in shares of ProAssurance by 124.1% in the 2nd quarter. First Quadrant L P CA now owns 2,465 shares of the insurance provider’s stock worth $150,000 after purchasing an additional 1,365 shares in the last quarter. Flinton Capital Management LLC raised its holdings in shares of ProAssurance by 55.3% in the 2nd quarter. Flinton Capital Management LLC now owns 2,560 shares of the insurance provider’s stock worth $156,000 after purchasing an additional 912 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in shares of ProAssurance by 60.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,895 shares of the insurance provider’s stock worth $176,000 after purchasing an additional 1,095 shares in the last quarter. Finally, Pacad Investment Ltd. raised its holdings in shares of ProAssurance by 47.6% in the 2nd quarter. Pacad Investment Ltd. now owns 3,100 shares of the insurance provider’s stock worth $188,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 80.16% of the company’s stock.
ProAssurance Corporation (NYSE PRA) traded up $1.35 during mid-day trading on Thursday, hitting $61.30. 133,900 shares of the stock were exchanged, compared to its average volume of 151,683. ProAssurance Corporation has a twelve month low of $50.70 and a twelve month high of $63.53. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market capitalization of $3,202.24, a price-to-earnings ratio of 26.07 and a beta of 0.54.
ProAssurance (NYSE:PRA) last released its quarterly earnings results on Monday, November 6th. The insurance provider reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.09. ProAssurance had a net margin of 16.18% and a return on equity of 6.75%. The business had revenue of $228.50 million for the quarter, compared to analyst estimates of $215.12 million. During the same quarter in the previous year, the business earned $0.46 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. equities research analysts predict that ProAssurance Corporation will post 2.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Thursday, December 21st will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.02%. ProAssurance’s dividend payout ratio is currently 46.10%.
A number of analysts recently commented on PRA shares. Buckingham Research started coverage on shares of ProAssurance in a report on Monday, September 11th. They issued a “neutral” rating and a $54.00 target price on the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $60.00 target price on shares of ProAssurance in a report on Monday, October 16th. Zacks Investment Research upgraded shares of ProAssurance from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, Boenning Scattergood restated a “hold” rating on shares of ProAssurance in a report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $60.75.
COPYRIGHT VIOLATION NOTICE: “Citadel Advisors LLC Grows Position in ProAssurance Corporation (PRA)” was originally posted by Watch List News and is owned by of Watch List News. If you are accessing this piece of content on another domain, it was illegally copied and reposted in violation of U.S. & international trademark and copyright law. The legal version of this piece of content can be accessed at https://www.watchlistnews.com/citadel-advisors-llc-grows-position-in-proassurance-corporation-pra/1735322.html.
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.
Want to see what other hedge funds are holding PRA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ProAssurance Corporation (NYSE:PRA).
Receive News & Ratings for ProAssurance Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProAssurance Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.