Wolverine Trading LLC acquired a new stake in ProAssurance Co. (NYSE:PRA) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,316 shares of the insurance provider’s stock, valued at approximately $247,000.
A number of other institutional investors have also recently bought and sold shares of PRA. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of ProAssurance by 50.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,109 shares of the insurance provider’s stock worth $178,000 after acquiring an additional 1,042 shares in the last quarter. American International Group Inc. lifted its position in shares of ProAssurance by 16.9% during the fourth quarter. American International Group Inc. now owns 7,581 shares of the insurance provider’s stock worth $433,000 after acquiring an additional 1,098 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of ProAssurance by 6.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 23,000 shares of the insurance provider’s stock worth $1,314,000 after acquiring an additional 1,400 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of ProAssurance by 1.7% during the third quarter. State Board of Administration of Florida Retirement System now owns 87,227 shares of the insurance provider’s stock worth $4,767,000 after acquiring an additional 1,490 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of ProAssurance by 1.7% during the fourth quarter. Swiss National Bank now owns 91,000 shares of the insurance provider’s stock worth $5,201,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 82.60% of the company’s stock.
In other news, CEO William Stancil Starnes sold 25,896 shares of the firm’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $55.01, for a total transaction of $1,424,538.96. Following the transaction, the chief executive officer now directly owns 277,772 shares of the company’s stock, valued at $15,280,237.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 39,074 shares of company stock worth $2,149,329 over the last ninety days. Insiders own 1.80% of the company’s stock.
ProAssurance stock opened at $50.30 on Thursday. The company has a market capitalization of $2,696.91, a price-to-earnings ratio of 24.98 and a beta of 0.59. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.46 and a quick ratio of 0.46. ProAssurance Co. has a 12 month low of $46.90 and a 12 month high of $63.45.
ProAssurance (NYSE:PRA) last released its earnings results on Wednesday, February 21st. The insurance provider reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.07). ProAssurance had a net margin of 12.38% and a return on equity of 6.11%. The firm had revenue of $209.12 million during the quarter, compared to the consensus estimate of $217.03 million. During the same period in the prior year, the company earned $0.83 EPS. The firm’s revenue was down 12.0% compared to the same quarter last year. equities analysts forecast that ProAssurance Co. will post 1.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Stockholders of record on Thursday, March 29th will be paid a dividend of $0.31 per share. The ex-dividend date is Wednesday, March 28th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.47%. ProAssurance’s dividend payout ratio (DPR) is currently 62.31%.
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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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