FineMark National Bank & Trust acquired a new stake in ProAssurance Corporation (NYSE:PRA) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,080 shares of the insurance provider’s stock, valued at approximately $223,000.

Other hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in ProAssurance Corporation by 8.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,067 shares of the insurance provider’s stock valued at $126,000 after acquiring an additional 161 shares during the last quarter. First Quadrant L P CA boosted its stake in ProAssurance Corporation by 124.1% in the second quarter. First Quadrant L P CA now owns 2,465 shares of the insurance provider’s stock valued at $150,000 after acquiring an additional 1,365 shares during the last quarter. Flinton Capital Management LLC boosted its stake in ProAssurance Corporation by 55.3% in the second quarter. Flinton Capital Management LLC now owns 2,560 shares of the insurance provider’s stock valued at $156,000 after acquiring an additional 912 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in ProAssurance Corporation by 60.8% in the second quarter. Riverhead Capital Management LLC now owns 2,895 shares of the insurance provider’s stock valued at $176,000 after acquiring an additional 1,095 shares during the last quarter. Finally, Pacad Investment Ltd. boosted its stake in ProAssurance Corporation by 47.6% in the second quarter. Pacad Investment Ltd. now owns 3,100 shares of the insurance provider’s stock valued at $188,000 after acquiring an additional 1,000 shares during the last quarter. 79.94% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Neil Frank B. O purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $54.75 per share, for a total transaction of $136,875.00. Following the acquisition, the insider now owns 101,931 shares of the company’s stock, valued at approximately $5,580,722.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Howard H. Friedman purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were bought at an average price of $55.00 per share, for a total transaction of $110,000.00. Following the acquisition, the insider now directly owns 259,573 shares in the company, valued at approximately $14,276,515. The disclosure for this purchase can be found here. Insiders have purchased a total of 7,000 shares of company stock worth $383,125 in the last 90 days. 1.80% of the stock is currently owned by insiders.

Shares of ProAssurance Corporation (NYSE PRA) opened at $57.25 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.23. ProAssurance Corporation has a twelve month low of $50.50 and a twelve month high of $63.53. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 24.85 and a beta of 0.54.

ProAssurance Corporation (NYSE:PRA) last released its quarterly earnings results on Monday, August 7th. The insurance provider reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. ProAssurance Corporation had a return on equity of 6.59% and a net margin of 16.80%. The company had revenue of $205.58 million for the quarter, compared to analyst estimates of $207.14 million. During the same quarter in the prior year, the firm posted $0.67 EPS. ProAssurance Corporation’s quarterly revenue was down 4.3% compared to the same quarter last year. sell-side analysts anticipate that ProAssurance Corporation will post 2 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 29th were issued a dividend of $0.31 per share. The ex-dividend date was Thursday, September 28th. This represents a $1.24 annualized dividend and a yield of 2.17%. ProAssurance Corporation’s payout ratio is presently 44.29%.

A number of equities analysts have issued reports on PRA shares. Boenning Scattergood reaffirmed a “hold” rating on shares of ProAssurance Corporation in a research note on Tuesday, August 8th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $60.00 price objective on shares of ProAssurance Corporation in a research note on Monday, October 16th. Buckingham Research started coverage on shares of ProAssurance Corporation in a report on Monday, September 11th. They issued a “neutral” rating and a $54.00 target price on the stock. Zacks Investment Research lowered shares of ProAssurance Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, BidaskClub lowered shares of ProAssurance Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. ProAssurance Corporation has an average rating of “Hold” and a consensus target price of $60.75.

ILLEGAL ACTIVITY WARNING: This piece was reported by Watch List News and is owned by of Watch List News. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be viewed at https://www.watchlistnews.com/finemark-national-bank-trust-invests-223000-in-proassurance-corporation-pra-stock/1678285.html.

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.

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).

Institutional Ownership by Quarter 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.