Jupiter Asset Management Ltd. Boosts Position in ProAssurance Corporation (PRA)

Jupiter Asset Management Ltd. boosted its stake in shares of ProAssurance Corporation (NYSE:PRA) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,730 shares of the insurance provider’s stock after buying an additional 323 shares during the period. Jupiter Asset Management Ltd. owned about 0.13% of ProAssurance Corporation worth $4,322,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of ProAssurance Corporation during the fourth quarter valued at $32,640,000. Schroder Investment Management Group increased its stake in shares of ProAssurance Corporation by 10.9% in the first quarter. Schroder Investment Management Group now owns 1,158,731 shares of the insurance provider’s stock valued at $70,045,000 after buying an additional 114,207 shares during the last quarter. Karp Capital Management Corp purchased a new stake in shares of ProAssurance Corporation during the first quarter valued at $6,052,000. Russell Investments Group Ltd. purchased a new stake in shares of ProAssurance Corporation during the fourth quarter valued at $4,139,000. Finally, State Street Corp increased its stake in shares of ProAssurance Corporation by 5.8% in the fourth quarter. State Street Corp now owns 1,066,691 shares of the insurance provider’s stock valued at $59,951,000 after buying an additional 58,769 shares during the last quarter. 81.96% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for ProAssurance Corporation (NYSE:PRA)

Shares of ProAssurance Corporation (PRA) traded up 0.99% during trading on Friday, reaching $61.45. 303,190 shares of the company’s stock were exchanged. ProAssurance Corporation has a 52 week low of $50.50 and a 52 week high of $63.53. The company’s 50-day moving average price is $59.65 and its 200 day moving average price is $58.57. The firm has a market capitalization of $3.28 billion, a PE ratio of 18.97 and a beta of 0.50.

ProAssurance Corporation (NYSE:PRA) last announced its quarterly earnings data on Thursday, May 4th. The insurance provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.08. The business had revenue of $223 million during the quarter, compared to the consensus estimate of $211.53 million. ProAssurance Corporation had a return on equity of 7.19% and a net margin of 19.25%. ProAssurance Corporation’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.46 EPS. Analysts predict that ProAssurance Corporation will post $2.33 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 12th. Shareholders of record on Tuesday, June 27th will be given a $0.31 dividend. The ex-dividend date of this dividend is Friday, June 23rd. This represents a $1.24 annualized dividend and a yield of 2.02%. ProAssurance Corporation’s dividend payout ratio is presently 38.39%.

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Several analysts have recently weighed in on PRA shares. Zacks Investment Research raised shares of ProAssurance Corporation from a “sell” rating to a “hold” rating in a report on Monday, May 1st. Boenning Scattergood reissued a “neutral” rating on shares of ProAssurance Corporation in a report on Monday, April 17th. Finally, BidaskClub raised shares of ProAssurance Corporation from a “sell” rating to a “hold” rating in a report on Friday.

ProAssurance Corporation Company Profile

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.

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