Federated Investors Inc. PA bought a new position in shares of ProAssurance Co. (NYSE:PRA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 9,126 shares of the insurance provider’s stock, valued at approximately $324,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Swiss National Bank boosted its position in ProAssurance by 2.1% during the first quarter. Swiss National Bank now owns 92,900 shares of the insurance provider’s stock worth $4,510,000 after purchasing an additional 1,900 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in ProAssurance by 10.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 335,773 shares of the insurance provider’s stock worth $16,302,000 after purchasing an additional 30,610 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in ProAssurance by 8.2% during the first quarter. Thrivent Financial for Lutherans now owns 35,927 shares of the insurance provider’s stock worth $1,744,000 after purchasing an additional 2,733 shares in the last quarter. Glen Harbor Capital Management LLC boosted its position in ProAssurance by 19.7% during the first quarter. Glen Harbor Capital Management LLC now owns 8,008 shares of the insurance provider’s stock worth $389,000 after purchasing an additional 1,316 shares in the last quarter. Finally, BlackRock Inc. boosted its position in ProAssurance by 2.0% during the first quarter. BlackRock Inc. now owns 5,684,563 shares of the insurance provider’s stock worth $275,986,000 after purchasing an additional 110,970 shares in the last quarter. 85.70% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently weighed in on the company. JMP Securities boosted their price target on ProAssurance from $50.00 to $52.00 and gave the stock a “market outperform” rating in a report on Friday, September 21st. Zacks Investment Research raised ProAssurance from a “strong sell” rating to a “hold” rating in a report on Friday, August 10th. Sandler O’Neill reissued a “hold” rating and issued a $44.00 price target on shares of ProAssurance in a report on Thursday, August 9th. ValuEngine raised ProAssurance from a “strong sell” rating to a “sell” rating in a report on Thursday, August 2nd. Finally, Boenning Scattergood reissued a “hold” rating on shares of ProAssurance in a report on Wednesday, August 8th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $50.50.

NYSE PRA opened at $47.45 on Wednesday. ProAssurance Co. has a fifty-two week low of $34.95 and a fifty-two week high of $63.45. The firm has a market capitalization of $2.57 billion, a PE ratio of 23.49 and a beta of 0.60. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.18.

ProAssurance (NYSE:PRA) last released its quarterly earnings results on Tuesday, August 7th. The insurance provider reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.09. The company had revenue of $248.02 million during the quarter, compared to analysts’ expectations of $219.98 million. ProAssurance had a return on equity of 6.14% and a net margin of 9.67%. During the same period in the previous year, the firm posted $0.40 earnings per share. research analysts predict that ProAssurance Co. will post 1.83 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 10th. Investors of record on Friday, September 28th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.24 annualized dividend and a yield of 2.61%. ProAssurance’s payout ratio is currently 61.39%.

ProAssurance Company Profile

ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers' Compensation, and Lloyd's Syndicate segments. It offers 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 for employers, groups, and associations.

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Institutional Ownership by Quarter for ProAssurance (NYSE:PRA)

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