T. Rowe Price Investment Management Inc. trimmed its holdings in shares of ProAssurance Co. (NYSE:PRA - Free Report) by 11.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,061,594 shares of the insurance provider's stock after selling 511,979 shares during the period. T. Rowe Price Investment Management Inc. owned about 7.94% of ProAssurance worth $64,620,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Mariner LLC increased its position in ProAssurance by 4.2% during the fourth quarter. Mariner LLC now owns 17,007 shares of the insurance provider's stock worth $271,000 after buying an additional 688 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of ProAssurance by 0.8% during the fourth quarter. Rhumbline Advisers now owns 160,707 shares of the insurance provider's stock valued at $2,557,000 after acquiring an additional 1,281 shares during the last quarter. Sterling Capital Management LLC increased its position in ProAssurance by 859.4% during the 4th quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider's stock worth $26,000 after purchasing an additional 1,461 shares in the last quarter. KBC Group NV raised its stake in ProAssurance by 75.4% in 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 last quarter. Finally, New York State Teachers Retirement System lifted its holdings in ProAssurance by 2.2% in 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 in the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the stock. Citigroup downgraded shares of ProAssurance to a "market perform" rating in a report on Thursday, April 3rd. StockNews.com initiated coverage on ProAssurance in a report on Friday. They issued a "hold" rating for the company. Raymond James cut ProAssurance from a "market perform" rating to an "underperform" rating in a report on Thursday, April 10th. Finally, Citizens Jmp lowered ProAssurance from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $18.67.
Check Out Our Latest Report on ProAssurance
ProAssurance Trading Up 0.6 %
PRA stock traded up $0.13 on Tuesday, hitting $23.25. 625,144 shares of the company were exchanged, compared to its average volume of 424,097. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 28.01 and a beta of -0.09. The business's fifty day moving average is $20.06 and its two-hundred day moving average is $17.21. ProAssurance Co. has a twelve month low of $10.76 and a twelve month high of $24.18. 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 issued its earnings results 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. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The business had revenue of $287.52 million for the quarter, compared to analyst estimates of $274.56 million. As a group, research analysts forecast that ProAssurance Co. will post 0.8 earnings per share for the current year.
ProAssurance Company 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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