Balyasny Asset Management L.P. Invests $512,000 in ProAssurance Co. (NYSE:PRA)

Balyasny Asset Management L.P. bought a new stake in ProAssurance Co. (NYSE:PRA - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 32,193 shares of the insurance provider's stock, valued at approximately $512,000. Balyasny Asset Management L.P. owned approximately 0.06% of ProAssurance at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sterling Capital Management LLC raised its stake in ProAssurance by 859.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider's stock valued at $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 fourth 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 in the last quarter. Aquatic Capital Management LLC grew its position in ProAssurance by 148.6% during the fourth quarter. Aquatic Capital Management LLC now owns 6,214 shares of the insurance provider's stock valued at $99,000 after acquiring an additional 3,714 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in ProAssurance during the fourth quarter valued at approximately $150,000. Finally, Scotia Capital Inc. bought a new position in ProAssurance during the fourth quarter valued at approximately $173,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on PRA. StockNews.com began coverage on shares of ProAssurance in a research report on Monday. They set a "hold" rating on the stock. Piper Sandler increased their price target on shares of ProAssurance from $18.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Raymond James cut shares of ProAssurance from a "market perform" rating to an "underperform" rating in a report on Thursday, April 10th. Citizens Jmp cut shares of ProAssurance from an "outperform" rating to a "market perform" rating in a report on Thursday, April 3rd. Finally, Citigroup cut shares of ProAssurance to a "market perform" rating in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, ProAssurance presently has a consensus rating of "Hold" and a consensus target price of $21.00.

ProAssurance Stock Up 0.0%

Shares of NYSE:PRA traded up $0.01 on Wednesday, hitting $23.21. 91,117 shares of the company traded hands, compared to its average volume of 445,662. ProAssurance Co. has a 52 week low of $10.76 and a 52 week high of $23.70. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.35. The stock has a 50 day simple moving average of $22.55 and a 200-day simple moving average of $18.07. The company has a market cap of $1.19 billion, a PE ratio of 27.95 and a beta of 0.04.

ProAssurance (NYSE:PRA - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.06). The firm had revenue of $236.28 million for the quarter, compared to the consensus estimate of $272.85 million. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. The company's revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.08 earnings per share. As a group, research analysts expect that ProAssurance Co. will post 0.8 earnings per share for the current year.

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.