Short Interest in ProAssurance Co. (NYSE:PRA) Decreases By 27.2%

ProAssurance Co. (NYSE:PRAGet Rating) saw a significant decrease in short interest in April. As of April 15th, there was short interest totalling 507,700 shares, a decrease of 27.2% from the March 31st total of 697,500 shares. Approximately 1.0% of the shares of the stock are sold short. Based on an average daily volume of 182,400 shares, the short-interest ratio is presently 2.8 days.

Shares of NYSE:PRA traded down $0.06 during trading on Monday, reaching $24.51. The stock had a trading volume of 1,089 shares, compared to its average volume of 173,957. The business has a fifty day moving average price of $25.46 and a 200-day moving average price of $24.60. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.32 billion, a P/E ratio of 9.30 and a beta of 0.37. ProAssurance has a fifty-two week low of $20.00 and a fifty-two week high of $27.55.

ProAssurance (NYSE:PRAGet Rating) last issued its quarterly earnings results on Monday, February 21st. The insurance provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.19 by $0.43. ProAssurance had a net margin of 12.82% and a return on equity of 5.42%. The firm had revenue of $293.95 million during the quarter, compared to analyst estimates of $269.74 million. During the same quarter in the prior year, the business posted $0.06 earnings per share. As a group, equities analysts forecast that ProAssurance will post 0.83 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 7th. Shareholders of record on Thursday, March 24th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, March 23rd. This represents a $0.20 annualized dividend and a yield of 0.82%. ProAssurance’s dividend payout ratio is currently 7.52%.

Several analysts have issued reports on PRA shares. StockNews.com started coverage on shares of ProAssurance in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research raised shares of ProAssurance from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Friday, April 8th. Finally, TheStreet raised shares of ProAssurance from a “c” rating to a “b-” rating in a research report on Friday, February 18th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Maryland State Retirement & Pension System grew its stake in ProAssurance by 2.0% during the first quarter. Maryland State Retirement & Pension System now owns 21,836 shares of the insurance provider’s stock worth $587,000 after buying an additional 430 shares during the period. Advisor Partners LLC grew its stake in ProAssurance by 1.6% during the fourth quarter. Advisor Partners LLC now owns 26,931 shares of the insurance provider’s stock worth $682,000 after buying an additional 433 shares during the period. Captrust Financial Advisors grew its stake in ProAssurance by 1.2% during the third quarter. Captrust Financial Advisors now owns 68,343 shares of the insurance provider’s stock worth $1,629,000 after buying an additional 818 shares during the period. Point72 Hong Kong Ltd grew its stake in ProAssurance by 86.0% during the fourth quarter. Point72 Hong Kong Ltd now owns 1,893 shares of the insurance provider’s stock worth $48,000 after buying an additional 875 shares during the period. Finally, Public Sector Pension Investment Board grew its stake in ProAssurance by 0.8% during the fourth quarter. Public Sector Pension Investment Board now owns 109,957 shares of the insurance provider’s stock worth $2,782,000 after buying an additional 880 shares during the period. Institutional investors own 85.02% of the company’s stock.

ProAssurance Company Profile (Get Rating)

ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers' Compensation Insurance, Segregated Portfolio Cell Reinsurance, and Lloyd's Syndicate segments.

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