Citadel Advisors LLC reduced its holdings in shares of ProAssurance Co. (NYSE:PRA) by 94.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,665 shares of the insurance provider’s stock after selling 100,926 shares during the period. Citadel Advisors LLC’s holdings in ProAssurance were worth $324,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of ProAssurance by 50.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,109 shares of the insurance provider’s stock valued at $178,000 after purchasing an additional 1,042 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of ProAssurance during the fourth quarter valued at about $202,000. Magnetar Financial LLC bought a new position in shares of ProAssurance during the third quarter valued at about $246,000. DF Dent & Co. Inc. lifted its position in shares of ProAssurance by 44.6% during the third quarter. DF Dent & Co. Inc. now owns 5,908 shares of the insurance provider’s stock valued at $323,000 after purchasing an additional 1,822 shares in the last quarter. Finally, Cadence Capital Management LLC bought a new position in shares of ProAssurance during the third quarter valued at about $344,000. 82.69% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on PRA shares. Zacks Investment Research lowered shares of ProAssurance from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Boenning Scattergood reissued a “hold” rating on shares of ProAssurance in a research report on Thursday, February 22nd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $55.00 price target on shares of ProAssurance in a research report on Tuesday, February 27th. Finally, Raymond James Financial raised shares of ProAssurance from an “underperform” rating to a “market perform” rating in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. ProAssurance currently has an average rating of “Hold” and an average price target of $57.33.
ProAssurance (NYSE:PRA) last released its quarterly earnings results on Wednesday, February 21st. The insurance provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.07). The firm had revenue of $209.12 million for the quarter, compared to the consensus estimate of $217.03 million. ProAssurance had a net margin of 12.38% and a return on equity of 6.11%. The firm’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.83 earnings per share. research analysts predict that ProAssurance Co. will post 1.93 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Thursday, March 29th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.48%. The ex-dividend date is Wednesday, March 28th. ProAssurance’s dividend payout ratio is 62.31%.
In other ProAssurance news, Chairman William Stancil Starnes sold 2,442 shares of ProAssurance stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $55.00, for a total value of $134,310.00. Following the sale, the chairman now owns 324,895 shares of the company’s stock, valued at $17,869,225. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 39,074 shares of company stock worth $2,149,329. Insiders own 1.80% of the company’s stock.
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.
Want to see what other hedge funds are holding PRA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ProAssurance Co. (NYSE:PRA).
Receive News & Ratings for ProAssurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProAssurance and related companies with MarketBeat.com's FREE daily email newsletter.