Bayesian Capital Management LP Takes Position in ProAssurance Co. (NYSE:PRA)

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

A number of other institutional investors and hedge funds have also modified their holdings of PRA. 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 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 4th 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 during the last quarter. Aquatic Capital Management LLC raised its holdings 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 during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of ProAssurance during the 4th quarter worth approximately $150,000. Finally, Scotia Capital Inc. acquired a new position in ProAssurance during the fourth quarter worth $173,000. Institutional investors own 85.58% of the company's stock.

Analyst Ratings Changes

PRA has been the topic of a number of research reports. Piper Sandler raised their target price on shares of ProAssurance from $18.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Citigroup cut ProAssurance to a "market perform" rating in a report on Thursday, April 3rd. StockNews.com started coverage on shares of ProAssurance in a research report on Sunday. They set a "hold" rating on the stock. Raymond James cut shares of ProAssurance from a "market perform" rating to an "underperform" rating in a report on Thursday, April 10th. Finally, Citizens Jmp cut shares of ProAssurance from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $21.00.

ProAssurance Trading Down 0.1%

Shares of PRA stock traded down $0.03 during trading hours on Wednesday, hitting $22.97. 307,485 shares of the company's stock traded hands, compared to its average volume of 439,343. The stock has a market cap of $1.18 billion, a PE ratio of 27.67 and a beta of 0.04. The stock's 50 day simple moving average is $21.76 and its 200 day simple moving average is $17.78. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.35. ProAssurance Co. has a 12 month low of $10.76 and a 12 month high of $23.70.

ProAssurance (NYSE:PRA - Get Free Report) last announced its quarterly 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 for the quarter, compared to the consensus estimate of $272.85 million. During the same quarter last year, the company posted $0.08 EPS. The company's quarterly revenue was down 4.5% compared to the same quarter last year. On average, sell-side analysts anticipate that ProAssurance Co. will post 0.8 EPS for the current year.

ProAssurance 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.