ProAssurance Co. (PRA) Stake Increased by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in ProAssurance Co. (NYSE:PRA) by 11.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 585,942 shares of the insurance provider’s stock after acquiring an additional 59,250 shares during the period. Geode Capital Management LLC owned about 1.09% of ProAssurance worth $23,765,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in ProAssurance by 12.9% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,800 shares of the insurance provider’s stock worth $601,000 after purchasing an additional 1,463 shares during the period. Bank of New York Mellon Corp lifted its holdings in ProAssurance by 4.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 697,496 shares of the insurance provider’s stock valued at $32,747,000 after acquiring an additional 27,700 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in ProAssurance by 95.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,360 shares of the insurance provider’s stock valued at $111,000 after acquiring an additional 1,151 shares during the last quarter. BlackRock Inc. lifted its holdings in ProAssurance by 2.4% in the 3rd quarter. BlackRock Inc. now owns 7,644,426 shares of the insurance provider’s stock valued at $358,906,000 after acquiring an additional 182,491 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in ProAssurance by 6.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,167,475 shares of the insurance provider’s stock valued at $101,762,000 after acquiring an additional 137,879 shares during the last quarter. 84.54% of the stock is owned by institutional investors and hedge funds.

NYSE:PRA traded up $0.67 during mid-day trading on Wednesday, reaching $36.02. The stock had a trading volume of 176,478 shares, compared to its average volume of 272,443. ProAssurance Co. has a fifty-two week low of $34.51 and a fifty-two week high of $49.47. The company has a market capitalization of $1.89 billion, a P/E ratio of 24.34 and a beta of 0.62. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.39 and a current ratio of 0.39.

ProAssurance (NYSE:PRA) last announced its earnings results on Thursday, February 21st. The insurance provider reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. The firm had revenue of $228.92 million during the quarter, compared to analysts’ expectations of $230.73 million. ProAssurance had a return on equity of 5.09% and a net margin of 5.31%. As a group, sell-side analysts forecast that ProAssurance Co. will post 1.4 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Friday, March 29th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.24 annualized dividend and a yield of 3.44%. ProAssurance’s dividend payout ratio is currently 83.78%.

A number of brokerages have weighed in on PRA. JMP Securities cut their price target on shares of ProAssurance from $50.00 to $45.00 and set a “market outperform” rating for the company in a report on Wednesday, April 10th. Boenning Scattergood reaffirmed a “hold” rating on shares of ProAssurance in a research note on Tuesday, February 5th. ValuEngine lowered shares of ProAssurance from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Finally, Zacks Investment Research raised shares of ProAssurance from a “sell” rating to a “hold” rating in a research note on Wednesday, January 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. ProAssurance currently has an average rating of “Hold” and an average target price of $47.00.

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ProAssurance 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 Insurance, Segregated Portfolio Cell Reinsurance, and Lloyd's Syndicate segments.

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Institutional Ownership by Quarter for ProAssurance (NYSE:PRA)

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