ProAssurance Co. (NYSE:PRA) Director Magnus James Gorrie bought 2,000 shares of ProAssurance stock in a transaction dated Wednesday, June 13th. The shares were acquired at an average price of $39.20 per share, with a total value of $78,400.00. Following the completion of the purchase, the director now directly owns 14,231 shares in the company, valued at approximately $557,855.20. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
PRA traded down $0.65 during trading on Thursday, hitting $37.85. The stock had a trading volume of 382,647 shares, compared to its average volume of 272,817. The company has a market capitalization of $2.09 billion, a PE ratio of 18.74 and a beta of 0.50. ProAssurance Co. has a one year low of $37.80 and a one year high of $63.45. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.39 and a quick ratio of 0.39.
ProAssurance (NYSE:PRA) last released its quarterly earnings results on Thursday, May 3rd. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.04). The firm had revenue of $201.03 million during the quarter, compared to the consensus estimate of $219.42 million. ProAssurance had a net margin of 9.20% and a return on equity of 5.64%. The business’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 earnings per share. equities analysts anticipate that ProAssurance Co. will post 1.77 earnings per share for the current fiscal year.
PRA has been the subject of several recent research reports. Sandler O’Neill restated a “hold” rating and issued a $50.00 price target on shares of ProAssurance in a research note on Friday, April 6th. Boenning Scattergood restated a “hold” rating on shares of ProAssurance in a research note on Friday, May 4th. Raymond James upgraded ProAssurance from an “underperform” rating to a “market perform” rating in a research note on Wednesday, February 28th. TheStreet downgraded ProAssurance from a “b” rating to a “c+” rating in a research note on Friday, March 9th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $55.00 price target on shares of ProAssurance in a research note on Tuesday, February 27th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. ProAssurance presently has a consensus rating of “Hold” and an average price target of $54.75.
Several large investors have recently added to or reduced their stakes in the company. LPL Financial LLC lifted its position in shares of ProAssurance by 11.2% during the 4th quarter. LPL Financial LLC now owns 10,348 shares of the insurance provider’s stock valued at $591,000 after acquiring an additional 1,041 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of ProAssurance by 50.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,109 shares of the insurance provider’s stock valued at $178,000 after acquiring an additional 1,042 shares during the period. American International Group Inc. lifted its position in shares of ProAssurance by 16.9% during the 4th quarter. American International Group Inc. now owns 7,581 shares of the insurance provider’s stock valued at $433,000 after acquiring an additional 1,098 shares during the period. Rehmann Capital Advisory Group lifted its position in shares of ProAssurance by 2.7% during the 4th quarter. Rehmann Capital Advisory Group now owns 44,811 shares of the insurance provider’s stock valued at $2,561,000 after acquiring an additional 1,198 shares during the period. Finally, Glen Harbor Capital Management LLC lifted its position in shares of ProAssurance by 19.7% during the 1st quarter. Glen Harbor Capital Management LLC now owns 8,008 shares of the insurance provider’s stock valued at $389,000 after acquiring an additional 1,316 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.
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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