Assenagon Asset Management S.A. Purchases 231,852 Shares of ProAssurance Co. (NYSE:PRA)

Assenagon Asset Management S.A. grew its holdings in shares of ProAssurance Co. (NYSE:PRA - Free Report) by 91.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 485,501 shares of the insurance provider's stock after buying an additional 231,852 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.95% of ProAssurance worth $7,302,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PRA. Allspring Global Investments Holdings LLC raised its position in ProAssurance by 1.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,311,435 shares of the insurance provider's stock worth $19,724,000 after acquiring an additional 18,718 shares in the last quarter. Dana Investment Advisors Inc. raised its stake in ProAssurance by 33.6% in the 2nd quarter. Dana Investment Advisors Inc. now owns 434,850 shares of the insurance provider's stock valued at $5,314,000 after acquiring an additional 109,253 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of ProAssurance by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 417,150 shares of the insurance provider's stock valued at $5,098,000 after purchasing an additional 8,549 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of ProAssurance by 4.7% during the 2nd quarter. American Century Companies Inc. now owns 305,698 shares of the insurance provider's stock worth $3,736,000 after buying an additional 13,650 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in ProAssurance by 25.7% in the 2nd quarter. AQR Capital Management LLC now owns 243,834 shares of the insurance provider's stock valued at $2,980,000 after buying an additional 49,851 shares during the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

ProAssurance Price Performance

NYSE PRA traded down $0.17 during midday trading on Tuesday, hitting $15.20. The company had a trading volume of 128,292 shares, compared to its average volume of 283,304. The firm has a 50-day moving average price of $14.17 and a 200-day moving average price of $13.44. The company has a market capitalization of $775.38 million, a PE ratio of -28.46 and a beta of 0.24. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.38. ProAssurance Co. has a twelve month low of $10.76 and a twelve month high of $18.19.

ProAssurance (NYSE:PRA - Get Free Report) last issued its quarterly earnings results 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. ProAssurance had a negative net margin of 2.00% and a positive return on equity of 0.86%. The company had revenue of $290.30 million during the quarter, compared to the consensus estimate of $235.61 million. During the same quarter in the prior year, the firm posted $0.16 EPS. The firm's quarterly revenue was down .5% on a year-over-year basis. As a group, analysts anticipate that ProAssurance Co. will post 0.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PRA. 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 report on Wednesday, July 17th. Truist Financial reduced their target price on shares of ProAssurance from $16.00 to $14.00 and set a "hold" rating for the company in a research report on Monday, August 12th.

About ProAssurance

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.