ProAssurance Co. (NYSE:PRA) Position Increased by Texas Permanent School Fund

Texas Permanent School Fund raised its holdings in shares of ProAssurance Co. (NYSE:PRAGet Rating) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,065 shares of the insurance provider’s stock after purchasing an additional 793 shares during the period. Texas Permanent School Fund owned about 0.07% of ProAssurance worth $923,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Watershed Asset Management L.L.C. increased its stake in ProAssurance by 5.5% during the second quarter. Watershed Asset Management L.L.C. now owns 10,453 shares of the insurance provider’s stock valued at $247,000 after purchasing an additional 543 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of ProAssurance by 1.3% during the first quarter. Great West Life Assurance Co. Can now owns 46,823 shares of the insurance provider’s stock valued at $1,291,000 after acquiring an additional 591 shares during the period. Strs Ohio boosted its holdings in shares of ProAssurance by 5.7% during the second quarter. Strs Ohio now owns 11,200 shares of the insurance provider’s stock valued at $264,000 after acquiring an additional 600 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of ProAssurance by 6.0% during the first quarter. Teacher Retirement System of Texas now owns 11,063 shares of the insurance provider’s stock valued at $297,000 after acquiring an additional 626 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in shares of ProAssurance during the first quarter valued at $31,000. Institutional investors own 87.31% of the company’s stock.

Wall Street Analyst Weigh In

PRA has been the subject of several analyst reports. Piper Sandler reduced their price target on shares of ProAssurance to $22.00 in a report on Wednesday. Truist Financial reduced their price target on shares of ProAssurance from $25.00 to $23.00 in a report on Monday, November 14th. Finally, StockNews.com raised shares of ProAssurance from a “sell” rating to a “hold” rating in a report on Saturday.

ProAssurance Stock Performance

PRA stock opened at $19.29 on Friday. The company has a market capitalization of $1.04 billion, a P/E ratio of 60.28 and a beta of 0.36. The company has a 50-day simple moving average of $20.41 and a 200 day simple moving average of $21.69. ProAssurance Co. has a fifty-two week low of $18.35 and a fifty-two week high of $27.55. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.40.

ProAssurance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 13th. Investors of record on Thursday, September 29th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Wednesday, September 28th. ProAssurance’s payout ratio is currently 62.50%.

About ProAssurance

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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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Institutional Ownership by Quarter for ProAssurance (NYSE:PRA)

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