Keel Point LLC Continues to Hold Position in ProAssurance Corporation (PRA)

Keel Point LLC continued to hold its position in ProAssurance Corporation (NYSE:PRA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,806 shares of the insurance provider’s stock at the close of the second quarter. Keel Point LLC’s holdings in ProAssurance Corporation were worth $718,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of ProAssurance Corporation by 2.4% during the 2nd quarter. BlackRock Inc. now owns 5,318,451 shares of the insurance provider’s stock valued at $323,363,000 after acquiring an additional 124,034 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of ProAssurance Corporation by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 5,051,135 shares of the insurance provider’s stock valued at $307,108,000 after acquiring an additional 50,372 shares during the last quarter. FMR LLC boosted its position in shares of ProAssurance Corporation by 28.9% during the 2nd quarter. FMR LLC now owns 2,684,274 shares of the insurance provider’s stock valued at $163,204,000 after acquiring an additional 602,115 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of ProAssurance Corporation by 2.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,118,413 shares of the insurance provider’s stock valued at $128,799,000 after acquiring an additional 41,574 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of ProAssurance Corporation by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,700,841 shares of the insurance provider’s stock valued at $102,476,000 after acquiring an additional 55,591 shares during the last quarter. Hedge funds and other institutional investors own 79.76% of the company’s stock.

A number of research analysts have recently commented on PRA shares. Keefe, Bruyette & Woods started coverage on ProAssurance Corporation in a research report on Monday, July 17th. They set a “market perform” rating and a $61.00 target price for the company. Boenning Scattergood restated a “hold” rating on shares of ProAssurance Corporation in a research report on Tuesday, August 1st. Buckingham Research assumed coverage on ProAssurance Corporation in a research report on Monday, September 11th. They issued a “neutral” rating and a $54.00 price target for the company. BidaskClub downgraded ProAssurance Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research downgraded ProAssurance Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $61.00.

Shares of ProAssurance Corporation (NYSE PRA) traded up 0.45% during mid-day trading on Friday, reaching $55.65. The company had a trading volume of 19,399 shares. ProAssurance Corporation has a 1-year low of $50.50 and a 1-year high of $63.53. The stock’s 50-day moving average price is $54.05 and its 200 day moving average price is $58.15. The company has a market capitalization of $2.97 billion, a PE ratio of 19.88 and a beta of 0.54.

ProAssurance Corporation (NYSE:PRA) last announced its quarterly earnings results on Monday, August 7th. The insurance provider reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. ProAssurance Corporation had a return on equity of 6.59% and a net margin of 16.80%. The business had revenue of $205.58 million for the quarter, compared to analyst estimates of $207.14 million. During the same quarter in the prior year, the company posted $0.67 EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. Equities analysts expect that ProAssurance Corporation will post $2.09 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Thursday, September 28th. ProAssurance Corporation’s dividend payout ratio (DPR) is presently 44.60%.

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In other ProAssurance Corporation news, insider Neil Frank B. O purchased 2,500 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average price of $54.75 per share, with a total value of $136,875.00. Following the purchase, the insider now directly owns 101,931 shares in the company, valued at approximately $5,580,722.25. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Howard H. Friedman purchased 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was acquired at an average cost of $55.00 per share, for a total transaction of $110,000.00. Following the purchase, the insider now owns 259,573 shares in the company, valued at $14,276,515. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 7,000 shares of company stock worth $383,125. Corporate insiders own 1.80% of the company’s stock.

About ProAssurance Corporation

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.

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

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