Assenagon Asset Management S.A. decreased its position in ProAssurance Co. (NYSE:PRA - Free Report) by 96.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 19,522 shares of the insurance provider's stock after selling 465,979 shares during the period. Assenagon Asset Management S.A.'s holdings in ProAssurance were worth $311,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the company. Barclays PLC increased its position in shares of ProAssurance by 307.5% in the third quarter. Barclays PLC now owns 85,117 shares of the insurance provider's stock valued at $1,280,000 after acquiring an additional 64,228 shares during the last quarter. State Street Corp increased its position in shares of ProAssurance by 1.8% during the 3rd quarter. State Street Corp now owns 1,968,754 shares of the insurance provider's stock worth $29,610,000 after purchasing an additional 34,247 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of ProAssurance by 1.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,311,435 shares of the insurance provider's stock worth $19,724,000 after purchasing an additional 18,718 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of ProAssurance by 34.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 253,175 shares of the insurance provider's stock valued at $3,808,000 after buying an additional 65,325 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of ProAssurance by 402.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,435 shares of the insurance provider's stock valued at $1,029,000 after buying an additional 54,806 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company's stock.
ProAssurance Stock Performance
ProAssurance stock traded down $0.03 during mid-day trading on Friday, hitting $14.74. 126,989 shares of the company's stock traded hands, compared to its average volume of 161,933. ProAssurance Co. has a fifty-two week low of $10.76 and a fifty-two week high of $17.79. The stock has a market cap of $754.20 million, a price-to-earnings ratio of 17.76 and a beta of 0.29. The firm has a 50 day simple moving average of $15.95 and a two-hundred day simple moving average of $14.59. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28.
ProAssurance (NYSE:PRA - Get Free Report) last announced its earnings results on Thursday, November 7th. The insurance provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.12 by $0.22. The business had revenue of $285.25 million during the quarter, compared to the consensus estimate of $270.75 million. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. During the same quarter in the previous year, the firm posted ($0.07) EPS. On average, research analysts expect that ProAssurance Co. will post 0.8 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on PRA shares. Truist Financial upped their price target on shares of ProAssurance from $14.00 to $18.00 and gave the stock a "hold" rating in a research report on Tuesday, November 12th. StockNews.com raised shares of ProAssurance from a "hold" rating to a "buy" rating in a report on Thursday, December 26th. Finally, Piper Sandler downgraded shares of ProAssurance from an "overweight" rating to a "neutral" rating and set a $18.00 target price for the company. in a research note on Monday, November 11th.
View Our Latest Stock Analysis on ProAssurance
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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