ProAssurance Corporation (NYSE:PRA) insider Howard H. Friedman acquired 2,000 shares of ProAssurance Corporation stock in a transaction that occurred on Wednesday, August 9th. The stock was acquired at an average cost of $55.00 per share, with a total value of $110,000.00. Following the purchase, the insider now owns 259,573 shares in the company, valued at approximately $14,276,515. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of ProAssurance Corporation (PRA) traded down 0.45% on Friday, reaching $54.80. 173,965 shares of the company traded hands. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 19.58 and a beta of 0.51. The stock has a 50 day moving average of $59.85 and a 200 day moving average of $59.23. ProAssurance Corporation has a 52-week low of $50.50 and a 52-week high of $63.53.
ProAssurance Corporation (NYSE:PRA) last posted its earnings results on Monday, August 7th. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. The company had revenue of $205.58 million during the quarter, compared to analysts’ expectations of $207.14 million. ProAssurance Corporation had a net margin of 16.80% and a return on equity of 6.59%. ProAssurance Corporation’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.67 EPS. On average, analysts expect that ProAssurance Corporation will post $2.16 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of the company. Assetmark Inc. boosted its stake in ProAssurance Corporation by 1.1% in the first quarter. Assetmark Inc. now owns 1,779 shares of the insurance provider’s stock worth $107,000 after buying an additional 20 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in ProAssurance Corporation by 8.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,067 shares of the insurance provider’s stock worth $126,000 after buying an additional 161 shares in the last quarter. First Quadrant L P CA raised its position in ProAssurance Corporation by 124.1% in the second quarter. First Quadrant L P CA now owns 2,465 shares of the insurance provider’s stock worth $150,000 after buying an additional 1,365 shares in the last quarter. Riverhead Capital Management LLC raised its position in ProAssurance Corporation by 60.8% in the second quarter. Riverhead Capital Management LLC now owns 2,895 shares of the insurance provider’s stock worth $176,000 after buying an additional 1,095 shares in the last quarter. Finally, Pacad Investment Ltd. raised its position in ProAssurance Corporation by 47.6% in the second quarter. Pacad Investment Ltd. now owns 3,100 shares of the insurance provider’s stock worth $188,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 81.67% of the company’s stock.
Several research analysts recently commented on PRA shares. Zacks Investment Research downgraded shares of ProAssurance Corporation from a “buy” rating to a “hold” rating in a report on Monday, June 5th. Boenning Scattergood reiterated a “neutral” rating on shares of ProAssurance Corporation in a report on Monday, April 17th. Finally, BidaskClub upgraded shares of ProAssurance Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $63.33.
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.
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