Teacher Retirement System of Texas Invests $603,000 in ProAssurance Co. (NYSE:PRA)

Teacher Retirement System of Texas purchased a new stake in ProAssurance Co. (NYSE:PRA - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 37,874 shares of the insurance provider's stock, valued at approximately $603,000. Teacher Retirement System of Texas owned 0.07% of ProAssurance at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Zacks Investment Management acquired a new position in shares of ProAssurance in the 3rd quarter worth approximately $5,140,000. Wellington Management Group LLP raised 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. JPMorgan Chase & Co. boosted its stake in ProAssurance by 34.8% in the third quarter. JPMorgan Chase & Co. now owns 253,175 shares of the insurance provider's stock worth $3,808,000 after purchasing an additional 65,325 shares in the last quarter. Wakefield Asset Management LLLP bought a new stake in shares of ProAssurance during the fourth quarter worth $1,036,000. Finally, Barclays PLC increased its stake 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 buying an additional 64,228 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

ProAssurance Trading Down 0.1 %

ProAssurance stock traded down $0.02 during mid-day trading on Thursday, hitting $23.35. The stock had a trading volume of 1,142,041 shares, compared to its average volume of 373,264. The stock has a 50-day simple moving average of $16.90 and a two-hundred day simple moving average of $16.03. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $1.19 billion, a PE ratio of 28.13 and a beta of 0.21. ProAssurance Co. has a 12 month low of $10.76 and a 12 month high of $23.43.

ProAssurance (NYSE:PRA - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The insurance provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.17 by $0.19. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. The company had revenue of $287.52 million during the quarter, compared to analysts' expectations of $274.56 million. As a group, sell-side analysts forecast that ProAssurance Co. will post 0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PRA shares. StockNews.com began coverage on shares of ProAssurance in a report on Tuesday. They set a "hold" rating on the stock. Citizens Jmp lowered shares of ProAssurance from an "outperform" rating to a "market perform" rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $18.67.

ProAssurance Company Profile

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.