Russell Investments Group Ltd. Has $2.37 Million Stake in ProAssurance Corporation (PRA)
Russell Investments Group Ltd. cut its stake in ProAssurance Corporation (NYSE:PRA) by 45.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,887 shares of the insurance provider’s stock after selling 33,015 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of ProAssurance Corporation worth $2,366,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. ProShare Advisors LLC boosted its position in ProAssurance Corporation by 7.5% in the first quarter. ProShare Advisors LLC now owns 9,081 shares of the insurance provider’s stock valued at $547,000 after buying an additional 634 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in ProAssurance Corporation by 6.2% in the first quarter. Great West Life Assurance Co. Can now owns 74,441 shares of the insurance provider’s stock valued at $4,481,000 after buying an additional 4,358 shares during the last quarter. First Trust Advisors LP boosted its position in ProAssurance Corporation by 54.2% in the first quarter. First Trust Advisors LP now owns 72,032 shares of the insurance provider’s stock valued at $4,340,000 after buying an additional 25,332 shares during the last quarter. Advisors Asset Management Inc. boosted its position in ProAssurance Corporation by 0.7% in the first quarter. Advisors Asset Management Inc. now owns 32,024 shares of the insurance provider’s stock valued at $1,929,000 after buying an additional 222 shares during the last quarter. Finally, Capital Fund Management S.A. bought a new position in ProAssurance Corporation during the first quarter valued at $669,000. Hedge funds and other institutional investors own 79.76% of the company’s stock.
ProAssurance Corporation (NYSE PRA) traded up 0.66% on Friday, hitting $53.60. 121,722 shares of the stock traded hands. ProAssurance Corporation has a 12 month low of $50.50 and a 12 month high of $63.53. The company has a market capitalization of $2.86 billion, a PE ratio of 19.15 and a beta of 0.55. The firm has a 50-day moving average price of $57.09 and a 200-day moving average price of $59.13.
ProAssurance Corporation (NYSE:PRA) last released its earnings results on Monday, August 7th. The insurance provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. The company had revenue of $205.58 million during the quarter, compared to analysts’ expectations of $207.14 million. ProAssurance Corporation had a net margin of 16.80% and a return on equity of 6.59%. ProAssurance Corporation’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the business earned $0.67 EPS. Analysts forecast that ProAssurance Corporation will post $2.14 earnings per share for the current year.
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Several research analysts have recently weighed in on PRA shares. Zacks Investment Research raised shares of ProAssurance Corporation from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Wednesday, May 10th. BidaskClub raised shares of ProAssurance Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Finally, Keefe, Bruyette & Woods started coverage on shares of ProAssurance Corporation in a report on Monday, July 17th. They set a “market perform” rating and a $61.00 price objective for the company. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $63.33.
In related news, insider Jeffrey Patton Lisenby sold 4,829 shares of ProAssurance Corporation stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $61.60, for a total value of $297,466.40. Following the completion of the sale, the insider now directly owns 50,836 shares in the company, valued at approximately $3,131,497.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Neil Frank B. O bought 2,500 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was bought at an average price of $54.50 per share, with a total value of $136,250.00. Following the completion of the purchase, the insider now directly owns 104,431 shares in the company, valued at $5,691,489.50. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 7,000 shares of company stock valued at $383,125 and sold 28,000 shares valued at $1,703,438. 1.80% of the stock is owned by company 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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