Bayesian Capital Management LP Makes New Investment in ProAssurance Co. (NYSE:PRA)

Bayesian Capital Management LP bought a new position in shares of ProAssurance Co. (NYSE:PRA - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 11,100 shares of the insurance provider's stock, valued at approximately $177,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC boosted its position in ProAssurance by 859.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider's stock worth $26,000 after acquiring an additional 1,461 shares during the last quarter. KBC Group NV lifted its stake in ProAssurance by 75.4% during the fourth 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. Aquatic Capital Management LLC grew its position in ProAssurance by 148.6% in the 4th 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 in the last quarter. KLP Kapitalforvaltning AS purchased a new position in ProAssurance in the 4th quarter valued at approximately $150,000. Finally, Scotia Capital Inc. acquired a new position in shares of ProAssurance in the fourth quarter worth $173,000. Hedge funds and other institutional investors own 85.58% of the company's stock.

ProAssurance Trading Down 0.0 %

ProAssurance stock traded down $0.01 during trading on Friday, hitting $22.90. The company's stock had a trading volume of 650,720 shares, compared to its average volume of 437,525. The stock's fifty day moving average is $21.46 and its 200 day moving average is $17.67. 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 Co. has a 1-year low of $10.76 and a 1-year high of $23.70. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 27.59 and a beta of 0.04.

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

Wall Street Analysts Forecast Growth

PRA has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on ProAssurance from $18.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday. Citigroup cut shares of ProAssurance to a "market perform" rating in a report on Thursday, April 3rd. StockNews.com assumed coverage on ProAssurance in a research note on Sunday. They issued a "hold" rating on the stock. Citizens Jmp downgraded 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 report on Thursday, April 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $21.00.

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.