ProAssurance Co. (PRA) Holdings Cut by Schroder Investment Management Group

Schroder Investment Management Group decreased its holdings in shares of ProAssurance Co. (NYSE:PRA) by 88.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 111,498 shares of the insurance provider’s stock after selling 883,523 shares during the period. Schroder Investment Management Group’s holdings in ProAssurance were worth $3,992,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PRA. Itau Unibanco Holding S.A. acquired a new position in ProAssurance during the 2nd quarter worth approximately $137,000. Adviser Investments LLC acquired a new position in ProAssurance during the 2nd quarter worth approximately $176,000. Laurion Capital Management LP acquired a new position in ProAssurance during the 2nd quarter worth approximately $248,000. Cubist Systematic Strategies LLC increased its position in ProAssurance by 39.7% during the 1st quarter. Cubist Systematic Strategies LLC now owns 5,886 shares of the insurance provider’s stock worth $286,000 after purchasing an additional 1,672 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in ProAssurance by 92.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,131 shares of the insurance provider’s stock worth $288,000 after purchasing an additional 3,898 shares during the period. Institutional investors own 85.55% of the company’s stock.

A number of equities research analysts recently weighed in on PRA shares. JMP Securities upped their price target on ProAssurance from $50.00 to $52.00 and gave the stock a “market outperform” rating in a report on Friday, September 21st. Zacks Investment Research upgraded ProAssurance from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 4th. ValuEngine upgraded ProAssurance from a “strong sell” rating to a “sell” rating in a report on Thursday, August 2nd. Boenning Scattergood restated a “hold” rating on shares of ProAssurance in a report on Wednesday, August 8th. Finally, Sandler O’Neill restated a “hold” rating and issued a $44.00 price target on shares of ProAssurance in a report on Thursday, August 9th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $50.50.

PRA opened at $44.21 on Friday. The company has a market capitalization of $2.36 billion, a P/E ratio of 21.89 and a beta of 0.63. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.35 and a current ratio of 0.35. ProAssurance Co. has a 1-year low of $34.95 and a 1-year high of $63.45.

ProAssurance (NYSE:PRA) last released its quarterly earnings results on Tuesday, August 7th. The insurance provider reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.09. The business had revenue of $248.02 million for the quarter, compared to analysts’ expectations of $219.98 million. ProAssurance had a return on equity of 6.14% and a net margin of 9.67%. During the same quarter in the prior year, the firm posted $0.40 EPS. As a group, equities research analysts forecast that ProAssurance Co. will post 1.82 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 10th. Investors of record on Friday, September 28th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Thursday, September 27th. ProAssurance’s dividend payout ratio is currently 61.39%.

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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Institutional Ownership by Quarter for ProAssurance (NYSE:PRA)

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