Protective Insurance Corp (NASDAQ:PTVCB) announced a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Investors of record on Tuesday, May 21st will be paid a dividend of 0.10 per share on Tuesday, June 4th. This represents a $0.40 annualized dividend and a yield of 2.43%. The ex-dividend date is Monday, May 20th.
Protective Insurance has a dividend payout ratio of 61.5% meaning its dividend is sufficiently covered by earnings.
Protective Insurance stock opened at $16.46 on Friday. Protective Insurance has a 52 week low of $15.81 and a 52 week high of $25.70.
A hedge fund recently raised its stake in Protective Insurance stock. Geode Capital Management LLC grew its holdings in Protective Insurance Corp (NASDAQ:PTVCB) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 96,830 shares of the company’s stock after purchasing an additional 959 shares during the quarter. Geode Capital Management LLC owned about 0.65% of Protective Insurance worth $1,612,000 as of its most recent filing with the SEC. 49.04% of the stock is owned by institutional investors and hedge funds.
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About Protective Insurance
Protective Insurance Corporation, through its subsidiaries, engages in marketing and underwriting property and casualty insurance products. The company offers a range of fleet transportation insurance products, including commercial motor vehicle liability, physical damage, and general liability insurance; workers compensation insurance; medical and indemnity insurance products; non-trucking motor vehicle liability insurance; fidelity and surety bonds; and inland marine products consisting of cargo insurance.
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