Wells Fargo & Company MN Has $71.78 Million Stake in ProAssurance Corporation (PRA)

Wells Fargo & Company MN lifted its holdings in shares of ProAssurance Corporation (NYSE:PRA) by 10.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,313,376 shares of the insurance provider’s stock after purchasing an additional 127,382 shares during the quarter. Wells Fargo & Company MN owned approximately 2.46% of ProAssurance worth $71,777,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. increased its stake in shares of ProAssurance by 2.4% during the 2nd quarter. BlackRock Inc. now owns 5,318,451 shares of the insurance provider’s stock worth $323,363,000 after purchasing an additional 124,034 shares during the last quarter. Vanguard Group Inc. grew its stake in ProAssurance by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 5,051,135 shares of the insurance provider’s stock valued at $307,108,000 after buying an additional 50,372 shares during the last quarter. FMR LLC lifted its holdings in shares of ProAssurance by 28.9% during the 2nd quarter. FMR LLC now owns 2,684,274 shares of the insurance provider’s stock worth $163,204,000 after acquiring an additional 602,115 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of ProAssurance by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,142,632 shares of the insurance provider’s stock worth $116,988,000 after acquiring an additional 24,219 shares during the period. Finally, TimesSquare Capital Management LLC lifted its holdings in shares of ProAssurance by 1.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 2,037,585 shares of the insurance provider’s stock worth $111,354,000 after acquiring an additional 25,905 shares during the period. Institutional investors own 80.23% of the company’s stock.

ProAssurance Corporation (NYSE PRA) traded down $0.35 on Thursday, reaching $61.65. 100,600 shares of the company’s stock traded hands, compared to its average volume of 152,435. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. The firm has a market cap of $3,311.75, a PE ratio of 26.96 and a beta of 0.58. ProAssurance Corporation has a 52-week low of $50.70 and a 52-week high of $63.53.

ProAssurance (NYSE:PRA) last posted its quarterly earnings data on Monday, November 6th. The insurance provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.09. The firm had revenue of $228.50 million during the quarter, compared to analysts’ expectations of $215.12 million. ProAssurance had a net margin of 16.18% and a return on equity of 6.75%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 EPS. sell-side analysts expect that ProAssurance Corporation will post 2.09 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Thursday, December 21st will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Wednesday, December 20th. ProAssurance’s payout ratio is presently 46.10%.

A number of equities analysts have recently commented on PRA shares. Zacks Investment Research raised shares of ProAssurance from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Boenning Scattergood reissued a “hold” rating on shares of ProAssurance in a report on Tuesday, November 7th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $60.00 price target on shares of ProAssurance in a report on Monday, October 16th. Finally, Buckingham Research initiated coverage on shares of ProAssurance in a report on Monday, September 11th. They set a “neutral” rating and a $54.00 price target for the company. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $61.00.

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ProAssurance 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.

Institutional Ownership by Quarter for ProAssurance (NYSE:PRA)

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