Smith Thornton Advisors LLC Invests $821,000 in ProAssurance Co. (NYSE:PRA)

Smith Thornton Advisors LLC purchased a new stake in shares of ProAssurance Co. (NYSE:PRA - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 67,176 shares of the insurance provider's stock, valued at approximately $821,000. Smith Thornton Advisors LLC owned approximately 0.13% of ProAssurance at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new position in shares of ProAssurance during the second quarter valued at $28,000. Innealta Capital LLC purchased a new stake in ProAssurance during the second quarter valued at $69,000. ProShare Advisors LLC purchased a new stake in ProAssurance during the first quarter valued at $132,000. Aull & Monroe Investment Management Corp purchased a new stake in ProAssurance during the first quarter valued at $178,000. Finally, Arizona State Retirement System increased its position in ProAssurance by 8.1% during the second quarter. Arizona State Retirement System now owns 15,136 shares of the insurance provider's stock valued at $185,000 after acquiring an additional 1,128 shares during the last quarter. 85.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PRA has been the subject of a number of research reports. JMP Securities reduced their price objective on ProAssurance from $22.00 to $20.00 and set a "market outperform" rating for the company in a research report on Wednesday, July 17th. Truist Financial reduced their price target on ProAssurance from $16.00 to $14.00 and set a "hold" rating for the company in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.33.

ProAssurance Stock Performance

PRA traded down $0.36 during midday trading on Friday, reaching $14.58. The company had a trading volume of 404,073 shares, compared to its average volume of 289,018. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average of $12.98 and a two-hundred day moving average of $13.05. The company has a market cap of $743.75 million, a P/E ratio of -27.15 and a beta of 0.23. ProAssurance Co. has a 1 year low of $10.76 and a 1 year high of $19.05.

ProAssurance (NYSE:PRA - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The insurance provider reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.15. The firm had revenue of $290.30 million during the quarter, compared to analyst estimates of $235.61 million. ProAssurance had a positive return on equity of 0.86% and a negative net margin of 2.00%. The business's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.16 earnings per share. As a group, equities research analysts predict that ProAssurance Co. will post 0.58 earnings per share for the current fiscal year.

ProAssurance Company Profile

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.