Texas Permanent School Fund Has $923,000 Stake in ProAssurance Co. (NYSE:PRA)

Texas Permanent School Fund grew its holdings in ProAssurance Co. (NYSE:PRAGet Rating) by 2.1% during the second quarter, Holdings Channel.com reports. The firm owned 39,065 shares of the insurance provider’s stock after buying an additional 793 shares during the period. Texas Permanent School Fund’s holdings in ProAssurance were worth $923,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Watershed Asset Management L.L.C. increased its holdings in shares of ProAssurance by 5.5% in the 2nd quarter. Watershed Asset Management L.L.C. now owns 10,453 shares of the insurance provider’s stock valued at $247,000 after purchasing an additional 543 shares during the period. Royce & Associates LP increased its holdings in ProAssurance by 1.4% in the second quarter. Royce & Associates LP now owns 1,251,846 shares of the insurance provider’s stock worth $29,581,000 after buying an additional 17,104 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new position in ProAssurance in the second quarter worth approximately $2,545,000. SG Americas Securities LLC increased its holdings in ProAssurance by 481.1% in the second quarter. SG Americas Securities LLC now owns 33,173 shares of the insurance provider’s stock worth $784,000 after buying an additional 27,464 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in ProAssurance in the second quarter worth approximately $381,000. Institutional investors and hedge funds own 87.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PRA. Piper Sandler dropped their price objective on ProAssurance to $22.00 in a report on Wednesday. Truist Financial dropped their price objective on ProAssurance from $25.00 to $23.00 in a report on Monday, November 14th. Finally, StockNews.com upgraded ProAssurance from a “sell” rating to a “hold” rating in a report on Saturday.

ProAssurance Stock Down 1.5 %

Shares of ProAssurance stock opened at $19.29 on Friday. The stock has a market capitalization of $1.04 billion, a P/E ratio of 60.28 and a beta of 0.36. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.40. The stock has a 50 day moving average price of $20.41 and a two-hundred day moving average price of $21.69. ProAssurance Co. has a 12-month low of $18.35 and a 12-month high of $27.55.

ProAssurance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 13th. Shareholders of record on Thursday, September 29th were given a dividend of $0.05 per share. The ex-dividend date was Wednesday, September 28th. This represents a $0.20 dividend on an annualized basis and a yield of 1.04%. ProAssurance’s payout ratio is currently 62.50%.

ProAssurance Company Profile

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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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