William Stancil Starnes Sells 10,736 Shares of ProAssurance Corporation (PRA) Stock

ProAssurance Corporation (NYSE:PRA) Chairman William Stancil Starnes sold 10,736 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $55.00, for a total transaction of $590,480.00. Following the completion of the transaction, the chairman now directly owns 267,036 shares of the company’s stock, valued at approximately $14,686,980. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

William Stancil Starnes also recently made the following trade(s):

  • On Friday, January 12th, William Stancil Starnes sold 25,896 shares of ProAssurance stock. The stock was sold at an average price of $55.01, for a total value of $1,424,538.96.
  • On Wednesday, January 10th, William Stancil Starnes sold 2,442 shares of ProAssurance stock. The stock was sold at an average price of $55.00, for a total value of $134,310.00.

Shares of ProAssurance Corporation (PRA) traded up $0.20 during mid-day trading on Wednesday, hitting $55.15. The stock had a trading volume of 302,050 shares, compared to its average volume of 242,764. The firm has a market capitalization of $2,950.00, a P/E ratio of 20.43 and a beta of 0.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40. ProAssurance Corporation has a 1-year low of $50.70 and a 1-year high of $63.45.

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

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Thursday, December 21st were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Wednesday, December 20th. ProAssurance’s payout ratio is 45.93%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ProAssurance by 8.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,067 shares of the insurance provider’s stock valued at $126,000 after acquiring an additional 161 shares during the period. Flinton Capital Management LLC increased its position in shares of ProAssurance by 55.3% in the 2nd quarter. Flinton Capital Management LLC now owns 2,560 shares of the insurance provider’s stock valued at $156,000 after acquiring an additional 912 shares during the period. Riverhead Capital Management LLC increased its position in shares of ProAssurance by 60.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,895 shares of the insurance provider’s stock valued at $176,000 after acquiring an additional 1,095 shares during the period. Verition Fund Management LLC acquired a new position in shares of ProAssurance in the 2nd quarter valued at $211,000. Finally, HighTower Advisors LLC acquired a new position in shares of ProAssurance in the 2nd quarter valued at $226,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently issued reports on PRA shares. Zacks Investment Research raised ProAssurance from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Wednesday, December 13th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $61.00 price target on shares of ProAssurance in a research report on Wednesday, December 6th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of ProAssurance in a research report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $59.50.

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About ProAssurance

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.

Insider Buying and Selling by Quarter for ProAssurance (NYSE:PRA)

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