American International Group Inc. Has $354,000 Stake in ProAssurance Corporation (PRA)
American International Group Inc. lessened its position in ProAssurance Corporation (NYSE:PRA) by 18.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,483 shares of the insurance provider’s stock after selling 1,514 shares during the period. American International Group Inc.’s holdings in ProAssurance were worth $354,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of ProAssurance by 8.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,067 shares of the insurance provider’s stock worth $126,000 after buying an additional 161 shares in the last quarter. Flinton Capital Management LLC raised its holdings in shares of ProAssurance by 55.3% during the second quarter. Flinton Capital Management LLC now owns 2,560 shares of the insurance provider’s stock valued at $156,000 after purchasing an additional 912 shares during the last quarter. Riverhead Capital Management LLC raised its holdings in shares of ProAssurance by 60.8% during the second quarter. Riverhead Capital Management LLC now owns 2,895 shares of the insurance provider’s stock valued at $176,000 after purchasing an additional 1,095 shares during the last quarter. Pacad Investment Ltd. raised its holdings in shares of ProAssurance by 47.6% during the second quarter. Pacad Investment Ltd. now owns 3,100 shares of the insurance provider’s stock valued at $188,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of ProAssurance during the second quarter valued at approximately $211,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.
Several research firms have recently weighed in on PRA. Keefe, Bruyette & Woods reissued a “hold” rating and set a $61.00 price objective on shares of ProAssurance in a report on Wednesday, December 6th. Zacks Investment Research raised shares of ProAssurance from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Wednesday, December 13th. Boenning Scattergood reissued a “hold” rating on shares of ProAssurance in a report on Tuesday, November 7th. Finally, Buckingham Research began coverage on shares of ProAssurance in a report on Monday, September 11th. They set a “neutral” rating and a $54.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. ProAssurance has a consensus rating of “Hold” and an average price target of $60.75.
Shares of ProAssurance Corporation (NYSE:PRA) opened at $56.55 on Friday. ProAssurance Corporation has a twelve month low of $50.70 and a twelve month high of $63.45. The company has a market cap of $3,020.00, a P/E ratio of 20.94 and a beta of 0.57. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22.
ProAssurance (NYSE:PRA) last announced its earnings results on Monday, November 6th. The insurance provider reported $0.45 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 during the quarter, compared to analysts’ expectations of $215.12 million. During the same period in the prior year, the company earned $0.46 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. equities research analysts predict that ProAssurance Corporation will post 2.09 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Thursday, December 21st will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, December 20th. This represents a $1.24 dividend on an annualized basis and a yield of 2.19%. ProAssurance’s dividend payout ratio is currently 45.93%.
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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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