Insider Selling: ProAssurance Corporation (PRA) Chairman Sells 2,442 Shares of Stock

ProAssurance Corporation (NYSE:PRA) Chairman William Stancil Starnes sold 2,442 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $55.00, for a total transaction of $134,310.00. Following the completion of the sale, the chairman now owns 324,895 shares of the company’s stock, valued at $17,869,225. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

ProAssurance Corporation (PRA) traded up $0.35 on Friday, reaching $55.00. 215,600 shares of the company’s stock traded hands, compared to its average volume of 287,175. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. ProAssurance Corporation has a 12 month low of $50.70 and a 12 month high of $63.45. The stock has a market capitalization of $2,940.00, a P/E ratio of 20.37 and a beta of 0.58.

ProAssurance (NYSE:PRA) last released its quarterly earnings data on Monday, November 6th. The insurance provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.09. ProAssurance had a net margin of 16.18% and a return on equity of 6.75%. The company had revenue of $228.50 million during the quarter, compared to the consensus estimate of $215.12 million. During the same period in the previous year, the firm earned $0.46 earnings per share. ProAssurance’s revenue for the quarter was up 1.9% on a year-over-year basis. equities research analysts anticipate that ProAssurance Corporation will post 2.09 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Thursday, December 21st were paid a dividend of $0.31 per share. The ex-dividend date was Wednesday, December 20th. This represents a $1.24 annualized dividend and a yield of 2.25%. ProAssurance’s dividend payout ratio is currently 45.93%.

Several hedge funds and other institutional investors have recently bought and sold shares of PRA. Schwab Charles Investment Management Inc. lifted its position in shares of ProAssurance by 8.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 264,328 shares of the insurance provider’s stock worth $16,072,000 after purchasing an additional 20,747 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of ProAssurance by 8.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,067 shares of the insurance provider’s stock worth $126,000 after purchasing an additional 161 shares in the last quarter. Pacad Investment Ltd. lifted its position in shares of ProAssurance by 47.6% during the second quarter. Pacad Investment Ltd. now owns 3,100 shares of the insurance provider’s stock worth $188,000 after purchasing an additional 1,000 shares in the last quarter. Swiss National Bank lifted its position in shares of ProAssurance by 1.6% during the second quarter. Swiss National Bank now owns 89,500 shares of the insurance provider’s stock worth $5,442,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of ProAssurance by 3.8% during the second quarter. Wells Fargo & Company MN now owns 1,185,994 shares of the insurance provider’s stock worth $72,109,000 after purchasing an additional 43,801 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

PRA has been the subject of several research reports. Zacks Investment Research upgraded shares of ProAssurance from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Wednesday, December 13th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $60.00 price objective on shares of ProAssurance in a research note on Monday, October 16th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of ProAssurance in a research note on Tuesday, November 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $59.50.

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About ProAssurance

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.

Insider Buying and Selling by Quarter for ProAssurance (NYSE:PRA)

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