Vanguard Group Inc. lowered its stake in shares of ProAssurance Co. (NYSE:PRA - Free Report) by 0.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,727,580 shares of the insurance provider's stock after selling 17,161 shares during the quarter. Vanguard Group Inc. owned approximately 11.20% of ProAssurance worth $91,126,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in PRA. Wellington Management Group LLP lifted its position in ProAssurance by 3.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,164,085 shares of the insurance provider's stock valued at $47,588,000 after purchasing an additional 91,987 shares during the last quarter. State Street Corp increased its stake in shares of ProAssurance by 1.8% in the third quarter. State Street Corp now owns 1,968,754 shares of the insurance provider's stock valued at $29,610,000 after purchasing an additional 34,247 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of ProAssurance by 0.4% during the fourth 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. American Century Companies Inc. grew its holdings in ProAssurance by 17.2% in the 4th quarter. American Century Companies Inc. now owns 391,609 shares of the insurance provider's stock worth $6,230,000 after buying an additional 57,556 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in 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 acquiring an additional 65,325 shares during the period. 85.58% of the stock is currently owned by institutional investors.
ProAssurance Price Performance
Shares of PRA traded up $0.06 during mid-day trading on Monday, hitting $23.36. The company's stock had a trading volume of 314,376 shares, compared to its average volume of 407,994. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a 50-day moving average price of $18.20 and a 200 day moving average price of $16.56. ProAssurance Co. has a fifty-two week low of $10.76 and a fifty-two week high of $23.70. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 28.14 and a beta of -0.09.
ProAssurance (NYSE:PRA - Get Free Report) last posted its quarterly earnings results on Monday, February 24th. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.19. The firm had revenue of $287.52 million for the quarter, compared to analyst estimates of $274.56 million. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. On average, research analysts predict that ProAssurance Co. will post 0.8 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
PRA has been the subject of a number of analyst reports. StockNews.com initiated coverage on ProAssurance in a research note on Wednesday, April 9th. They issued a "hold" rating for the company. Citizens Jmp cut shares of ProAssurance from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 3rd. Raymond James lowered shares of ProAssurance from a "market perform" rating to an "underperform" rating in a research note on Thursday. Finally, Citigroup lowered shares of ProAssurance to a "market perform" rating in a research note on Thursday, April 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $18.67.
Check Out Our Latest Stock Analysis on PRA
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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