Zacks Investment Management lessened its holdings in shares of ProAssurance Co. (NYSE:PRA - Free Report) by 5.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 324,188 shares of the insurance provider's stock after selling 17,597 shares during the period. Zacks Investment Management owned 0.63% of ProAssurance worth $5,158,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of PRA. Arrowstreet Capital Limited Partnership grew its holdings in shares of ProAssurance by 92.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider's stock worth $10,992,000 after buying an additional 331,224 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new stake in ProAssurance in the 4th quarter valued at $1,654,000. JPMorgan Chase & Co. lifted its position in ProAssurance by 28.0% during the 4th quarter. JPMorgan Chase & Co. now owns 323,955 shares of the insurance provider's stock worth $5,154,000 after buying an additional 70,780 shares in the last quarter. Wakefield Asset Management LLLP bought a new position in shares of ProAssurance in the 4th quarter valued at about $1,036,000. Finally, Barclays PLC raised its holdings in ProAssurance by 307.5% during the third 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. 85.58% of the stock is currently owned by institutional investors and hedge funds.
ProAssurance Stock Performance
ProAssurance stock traded up $0.12 during mid-day trading on Tuesday, reaching $23.00. The company's stock had a trading volume of 124,086 shares, compared to its average volume of 415,147. The company has a market capitalization of $1.18 billion, a P/E ratio of 27.70 and a beta of -0.09. The firm's fifty day moving average price is $19.20 and its two-hundred day moving average price is $16.91. ProAssurance Co. has a 12-month low of $10.76 and a 12-month 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.
ProAssurance (NYSE:PRA - Get Free Report) last released its quarterly earnings data 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 company had revenue of $287.52 million during the quarter, compared to analyst estimates of $274.56 million. Sell-side analysts predict that ProAssurance Co. will post 0.8 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. Citigroup downgraded ProAssurance to a "market perform" rating in a report on Thursday, April 3rd. StockNews.com started coverage on ProAssurance in a report on Thursday, April 17th. They set a "hold" rating on the stock. Citizens Jmp cut shares of ProAssurance from an "outperform" rating to a "market perform" rating in a research report on Thursday, April 3rd. Finally, Raymond James lowered shares of ProAssurance from a "market perform" rating to an "underperform" rating in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, ProAssurance presently has a consensus rating of "Hold" and a consensus target price of $18.67.
Get Our Latest Stock Analysis on ProAssurance
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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