Balyasny Asset Management L.P. acquired a new stake in ProAssurance Co. (NYSE:PRA - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 32,193 shares of the insurance provider's stock, valued at approximately $512,000. Balyasny Asset Management L.P. owned about 0.06% of ProAssurance as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of ProAssurance by 4.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,703,953 shares of the insurance provider's stock worth $43,019,000 after purchasing an additional 123,232 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of ProAssurance by 0.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,316,249 shares of the insurance provider's stock worth $20,678,000 after buying an additional 4,814 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of ProAssurance by 92.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider's stock valued at $10,992,000 after acquiring an additional 331,224 shares during the last quarter. Northern Trust Corp raised its position in shares of ProAssurance by 3.1% in the 4th quarter. Northern Trust Corp now owns 559,694 shares of the insurance provider's stock valued at $8,905,000 after acquiring an additional 16,983 shares during the period. Finally, American Century Companies Inc. boosted its stake in ProAssurance by 17.2% during the 4th quarter. American Century Companies Inc. now owns 391,609 shares of the insurance provider's stock worth $6,230,000 after acquiring an additional 57,556 shares during the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
PRA has been the subject of several recent analyst reports. Raymond James downgraded ProAssurance from a "market perform" rating to an "underperform" rating in a report on Thursday, April 10th. Citigroup downgraded shares of ProAssurance to a "market perform" rating in a report on Thursday, April 3rd. Citizens Jmp downgraded shares of ProAssurance from an "outperform" rating to a "market perform" rating in a research report on Thursday, April 3rd. Piper Sandler boosted their price objective 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. Finally, StockNews.com initiated coverage on ProAssurance in a report on Monday. They set a "hold" rating for the company. One 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 stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $21.00.
Check Out Our Latest Analysis on PRA
ProAssurance Stock Performance
Shares of NYSE PRA traded up $0.03 during trading hours on Monday, reaching $23.27. 586,666 shares of the stock were exchanged, compared to its average volume of 445,874. The stock's fifty day simple moving average is $22.23 and its 200 day simple moving average is $17.97. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 28.04 and a beta of 0.04. ProAssurance Co. has a 52 week low of $10.76 and a 52 week 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 announced its 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 business had revenue of $236.28 million for the quarter, compared to analyst estimates of $272.85 million. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The business's revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.08 EPS. Sell-side analysts predict 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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