Wellington Management Group LLP reduced its stake in ProAssurance Co. (NYSE:PRA - Free Report) by 5.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,987,196 shares of the insurance provider's stock after selling 176,889 shares during the period. Wellington Management Group LLP owned 5.84% of ProAssurance worth $47,526,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Zacks Investment Management acquired a new stake in shares of ProAssurance in the 3rd quarter valued at about $5,140,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of ProAssurance by 92.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider's stock valued at $10,992,000 after buying an additional 331,224 shares during the period. Brandywine Global Investment Management LLC bought a new stake in ProAssurance during the fourth quarter worth $1,654,000. JPMorgan Chase & Co. lifted its stake in ProAssurance by 28.0% during the fourth quarter. JPMorgan Chase & Co. now owns 323,955 shares of the insurance provider's stock worth $5,154,000 after purchasing an additional 70,780 shares during the last quarter. Finally, Wakefield Asset Management LLLP acquired a new position in shares of ProAssurance during the fourth quarter worth $1,036,000. 85.58% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research firms recently weighed in on PRA. Citizens Jmp downgraded ProAssurance from an "outperform" rating to a "market perform" rating in a report on Thursday, April 3rd. Citigroup cut shares of ProAssurance to a "market perform" rating in a research report on Thursday, April 3rd. Raymond James cut shares of ProAssurance from a "market perform" rating to an "underperform" rating in a research report on Thursday. Finally, StockNews.com began coverage on shares of ProAssurance in a research note on Wednesday. They issued a "hold" rating for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $18.67.
Check Out Our Latest Stock Analysis on PRA
ProAssurance Trading Down 0.2 %
Shares of PRA stock traded down $0.05 during mid-day trading on Thursday, reaching $23.13. The stock had a trading volume of 229,066 shares, compared to its average volume of 402,806. ProAssurance Co. has a 52-week low of $10.76 and a 52-week high of $24.19. The firm has a market capitalization of $1.18 billion, a PE ratio of 27.86 and a beta of -0.09. The stock's 50-day moving average price is $17.87 and its two-hundred day moving average price is $16.43. 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 posted its quarterly earnings results on Monday, February 24th. The insurance provider reported $0.36 EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $274.56 million. Equities analysts expect that ProAssurance Co. will post 0.8 earnings per share for the current fiscal year.
ProAssurance Profile
(
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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