Swiss National Bank Purchases 2,700 Shares of ProAssurance Co. (NYSE:PRA)

Swiss National Bank increased its position in ProAssurance Co. (NYSE:PRA – Get Rating) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 130,300 shares of the insurance provider’s stock after acquiring an additional 2,700 shares during the quarter. Swiss National Bank owned about 0.24% of ProAssurance worth $2,276,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PRA. MetLife Investment Management LLC raised its stake in ProAssurance by 53.6% in the first quarter. MetLife Investment Management LLC now owns 29,342 shares of the insurance provider’s stock valued at $789,000 after purchasing an additional 10,245 shares in the last quarter. Panagora Asset Management Inc. raised its stake in ProAssurance by 19.3% in the first quarter. Panagora Asset Management Inc. now owns 47,292 shares of the insurance provider’s stock valued at $1,271,000 after purchasing an additional 7,653 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in ProAssurance by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 46,539 shares of the insurance provider’s stock valued at $1,251,000 after purchasing an additional 5,738 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in ProAssurance by 1.3% in the first quarter. Great West Life Assurance Co. Can now owns 46,823 shares of the insurance provider’s stock valued at $1,291,000 after purchasing an additional 591 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in ProAssurance by 7.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,582,436 shares of the insurance provider’s stock valued at $42,535,000 after purchasing an additional 111,196 shares in the last quarter. 84.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on PRA shares. Truist Financial decreased their price target on shares of ProAssurance from $22.00 to $16.00 in a research note on Wednesday, May 17th. StockNews.com started coverage on shares of ProAssurance in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Janney Montgomery Scott started coverage on shares of ProAssurance in a research note on Friday, February 24th. They set a “neutral” rating and a $21.00 price target on the stock. Finally, Piper Sandler lifted their price target on shares of ProAssurance from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 4th.

ProAssurance Stock Down 0.2 %

Shares of ProAssurance stock opened at $12.72 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.27 and a current ratio of 0.27. ProAssurance Co. has a 52-week low of $12.34 and a 52-week high of $24.50. The stock has a market capitalization of $687.26 million, a price-to-earnings ratio of -254.35 and a beta of 0.36. The company’s 50 day moving average price is $17.32 and its 200-day moving average price is $18.43.

ProAssurance (NYSE:PRA – Get Rating) last issued its earnings results on Tuesday, May 9th. The insurance provider reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.30). The firm had revenue of $272.70 million during the quarter, compared to the consensus estimate of $283.40 million. ProAssurance had a positive return on equity of 0.78% and a negative net margin of 0.28%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.14 EPS. Equities research analysts forecast that ProAssurance Co. will post 0.52 EPS for the current year.

ProAssurance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 13th. Investors of record on Wednesday, March 29th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Tuesday, March 28th. ProAssurance’s dividend payout ratio (DPR) is currently -399.92%.

ProAssurance Company Profile

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ProAssurance Corp. is a holding company. It operates through the following segments: Specialty Property and Casualty, Workers’ Compensation Insurance, Lloyd’s Syndicate, Segregated Portfolio Cell Reinsurance and Corporate. The Specialty Property and Casualty segment includes professional liability business and medical technology and life sciences business.