Wakefield Asset Management LLLP bought a new stake in shares of ProAssurance Co. (NYSE:PRA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 65,132 shares of the insurance provider's stock, valued at approximately $1,036,000. Wakefield Asset Management LLLP owned approximately 0.13% of ProAssurance as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers grew its holdings in shares of ProAssurance by 0.8% in the 4th quarter. Rhumbline Advisers now owns 160,707 shares of the insurance provider's stock worth $2,557,000 after acquiring an additional 1,281 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of ProAssurance by 0.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 587,901 shares of the insurance provider's stock valued at $8,842,000 after purchasing an additional 1,738 shares during the period. KBC Group NV increased 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 worth $67,000 after purchasing an additional 1,798 shares in the last quarter. Private Advisor Group LLC raised its holdings in ProAssurance by 12.8% during the 3rd quarter. Private Advisor Group LLC now owns 16,806 shares of the insurance provider's stock worth $253,000 after buying an additional 1,905 shares during the period. Finally, New York State Teachers Retirement System lifted its stake in ProAssurance by 2.2% during the fourth quarter. New York State Teachers Retirement System now owns 89,326 shares of the insurance provider's stock valued at $1,421,000 after buying an additional 1,937 shares in the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have recently issued reports on PRA. Piper Sandler lowered shares of ProAssurance from an "overweight" rating to a "neutral" rating and set a $18.00 price target on the stock. in a report on Monday, November 11th. Truist Financial boosted their target price on shares of ProAssurance from $14.00 to $18.00 and gave the company a "hold" rating in a research note on Tuesday, November 12th. Finally, StockNews.com cut ProAssurance from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th.
Read Our Latest Stock Report on ProAssurance
ProAssurance Stock Down 2.6 %
PRA traded down $0.42 during trading on Tuesday, reaching $15.62. 118,284 shares of the stock traded hands, compared to its average volume of 198,054. The stock's 50-day simple moving average is $15.12 and its two-hundred day simple moving average is $15.12. 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 Co. has a fifty-two week low of $10.76 and a fifty-two week high of $17.79. The stock has a market cap of $799.23 million, a price-to-earnings ratio of 18.85 and a beta of 0.27.
ProAssurance (NYSE:PRA - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $274.56 million. As a group, equities research analysts expect that ProAssurance Co. will post 0.8 EPS for the current year.
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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