Prudential Financial Inc. Acquires 31,580 Shares of ProAssurance Co. (NYSE:PRA)

Prudential Financial Inc. lifted its stake in ProAssurance Co. (NYSE:PRA - Free Report) by 57.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,703 shares of the insurance provider's stock after purchasing an additional 31,580 shares during the period. Prudential Financial Inc. owned 0.17% of ProAssurance worth $1,379,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Rhumbline Advisers raised its stake in ProAssurance by 0.8% during the 4th quarter. Rhumbline Advisers now owns 160,707 shares of the insurance provider's stock worth $2,557,000 after acquiring an additional 1,281 shares during the period. KBC Group NV raised its position in shares of ProAssurance by 75.4% during the 4th quarter. KBC Group NV now owns 4,184 shares of the insurance provider's stock valued at $67,000 after purchasing an additional 1,798 shares during the period. New York State Teachers Retirement System raised its position in shares of ProAssurance by 2.2% during the 4th quarter. New York State Teachers Retirement System now owns 89,326 shares of the insurance provider's stock valued at $1,421,000 after purchasing an additional 1,937 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of ProAssurance by 30.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 17,978 shares of the insurance provider's stock valued at $270,000 after buying an additional 4,149 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in ProAssurance by 0.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,316,249 shares of the insurance provider's stock worth $20,678,000 after buying an additional 4,814 shares during the period. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

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ProAssurance Trading Down 0.4 %

Shares of NYSE PRA traded down $0.09 during trading hours on Monday, hitting $23.20. 2,885,872 shares of the company traded hands, compared to its average volume of 393,071. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 27.95 and a beta of -0.09. The company's 50 day moving average price is $17.07 and its 200 day moving average price is $16.14. ProAssurance Co. has a 12 month low of $10.76 and a 12 month high of $23.43. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35.

ProAssurance (NYSE:PRA - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The insurance provider reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.19. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. The firm had revenue of $287.52 million during the quarter, compared to analysts' expectations of $274.56 million. On average, equities research analysts anticipate that ProAssurance Co. will post 0.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PRA has been the subject of several research analyst reports. StockNews.com started coverage on ProAssurance in a research report on Tuesday, April 1st. They set a "hold" rating for the company. Citizens Jmp lowered shares of ProAssurance from an "outperform" rating to a "market perform" rating in a report on Thursday. Finally, Citigroup downgraded shares of ProAssurance to a "market perform" rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $18.67.

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.