Scotia Capital Inc. acquired a new position in ProAssurance Co. (NYSE:PRA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,874 shares of the insurance provider's stock, valued at approximately $173,000.
Other institutional investors also recently bought and sold shares of the company. Wealthfront Advisers LLC purchased a new stake in ProAssurance in the fourth quarter worth about $359,000. Barclays PLC increased its holdings in ProAssurance by 307.5% in the 3rd quarter. Barclays PLC now owns 85,117 shares of the insurance provider's stock worth $1,280,000 after acquiring an additional 64,228 shares in the last quarter. State Street Corp raised its stake in 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 acquiring an additional 34,247 shares during the period. Amundi lifted its holdings in ProAssurance by 182.3% during the fourth quarter. Amundi now owns 25,634 shares of the insurance provider's stock valued at $389,000 after purchasing an additional 16,552 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of ProAssurance by 57.3% in the fourth quarter. Prudential Financial Inc. now owns 86,703 shares of the insurance provider's stock worth $1,379,000 after purchasing an additional 31,580 shares during the period. 85.58% of the stock is owned by institutional investors.
ProAssurance Price Performance
PRA stock traded down $0.09 during trading on Monday, hitting $23.11. 47,693 shares of the company's stock traded hands, compared to its average volume of 412,480. The business has a fifty day simple moving average of $19.04 and a 200 day simple moving average of $16.86. ProAssurance Co. has a 52 week low of $10.76 and a 52 week high of $23.70. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 27.84 and a beta of -0.09.
ProAssurance (NYSE:PRA - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The insurance provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.19. The company had revenue of $287.52 million for the quarter, compared to analysts' expectations of $274.56 million. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. As a group, research analysts expect that ProAssurance Co. will post 0.8 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
PRA has been the topic of a number of analyst reports. 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 cut ProAssurance from a "market perform" rating to an "underperform" rating in a research report on Thursday, April 10th. Citigroup cut ProAssurance to a "market perform" rating in a report on Thursday, April 3rd. Finally, StockNews.com initiated coverage on shares of ProAssurance in a research report on Thursday. They set a "hold" rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $18.67.
Check Out Our Latest Stock Report on ProAssurance
ProAssurance Profile
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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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