Brandywine Global Investment Management LLC purchased a new position in ProAssurance Co. (NYSE:PRA - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 103,940 shares of the insurance provider's stock, valued at approximately $1,654,000. Brandywine Global Investment Management LLC owned 0.20% of ProAssurance at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of PRA. KBC Group NV increased its stake in shares of ProAssurance by 75.4% in the fourth quarter. KBC Group NV now owns 4,184 shares of the insurance provider's stock worth $67,000 after buying an additional 1,798 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its position in shares of ProAssurance by 94.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider's stock valued at $126,000 after acquiring an additional 4,052 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of ProAssurance during the fourth quarter valued at about $150,000. FMR LLC boosted its holdings in shares of ProAssurance by 197.8% during the third quarter. FMR LLC now owns 12,063 shares of the insurance provider's stock worth $181,000 after purchasing an additional 8,012 shares during the period. Finally, Cornercap Investment Counsel Inc. bought a new stake in shares of ProAssurance in the fourth quarter worth about $204,000. Institutional investors own 85.58% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have weighed in on PRA. StockNews.com initiated coverage on ProAssurance in a report on Tuesday, April 1st. They issued a "hold" rating for the company. Citizens Jmp lowered ProAssurance from an "outperform" rating to a "market perform" rating in a research note on Thursday. Finally, Citigroup cut shares of ProAssurance to a "market perform" rating in a report on Thursday. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, ProAssurance has an average rating of "Hold" and an average price target of $18.67.
Get Our Latest Report on PRA
ProAssurance Stock Down 0.4 %
Shares of PRA traded down $0.09 on Monday, reaching $23.20. The stock had a trading volume of 2,885,872 shares, compared to its average volume of 393,071. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28. ProAssurance Co. has a 12-month low of $10.76 and a 12-month high of $23.43. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 27.95 and a beta of -0.09. The company has a 50-day simple moving average of $17.23 and a 200-day simple moving average of $16.20.
ProAssurance (NYSE:PRA - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The insurance provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.17 by $0.19. The business had revenue of $287.52 million during the quarter, compared to analyst estimates of $274.56 million. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. Sell-side analysts predict that ProAssurance Co. will post 0.8 EPS for the current year.
About ProAssurance
(
Free Report)
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, and Segregated Portfolio Cell Reinsurance segments. It offers professional liability insurance to healthcare providers and institutions, and attorneys and their firms; medical technology liability insurance to medical technology and life sciences companies; and custom alternative risk solutions, including assumed reinsurance, loss portfolio transfers, and captive cell programs for healthcare professional liability insureds.
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