Corton Capital Inc. reduced its position in ProAssurance Co. (NYSE:PRA - Free Report) by 46.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,510 shares of the insurance provider's stock after selling 11,037 shares during the period. Corton Capital Inc.'s holdings in ProAssurance were worth $199,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Mariner LLC boosted its position in shares of ProAssurance by 4.2% in the fourth quarter. Mariner LLC now owns 17,007 shares of the insurance provider's stock worth $271,000 after buying an additional 688 shares during the period. Rhumbline Advisers boosted its holdings in ProAssurance by 0.8% in the 4th quarter. Rhumbline Advisers now owns 160,707 shares of the insurance provider's stock worth $2,557,000 after acquiring an additional 1,281 shares during the period. Sterling Capital Management LLC grew its position 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 acquiring an additional 1,461 shares in the last quarter. KBC Group NV raised its stake in shares of ProAssurance by 75.4% during 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 during the period. Finally, New York State Teachers Retirement System lifted its position in shares of ProAssurance by 2.2% during the fourth quarter. New York State Teachers Retirement System now owns 89,326 shares of the insurance provider's stock worth $1,421,000 after purchasing an additional 1,937 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company's stock.
ProAssurance Stock Down 0.1%
Shares of NYSE:PRA traded down $0.03 on Wednesday, reaching $22.97. The company had a trading volume of 363,867 shares, compared to its average volume of 439,589. The stock has a market capitalization of $1.18 billion, a P/E ratio of 27.67 and a beta of 0.04. The stock has a 50-day moving average price of $21.76 and a 200 day moving average price of $17.78. ProAssurance Co. has a twelve month low of $10.76 and a twelve month 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.
ProAssurance (NYSE:PRA - Get Free Report) last released its earnings results on Tuesday, May 6th. The insurance provider reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.06). ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The firm had revenue of $236.28 million for the quarter, compared to analyst estimates of $272.85 million. During the same period in the prior year, the firm earned $0.08 EPS. The firm's revenue was down 4.5% on a year-over-year basis. On average, equities analysts expect that ProAssurance Co. will post 0.8 EPS for the current year.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on PRA. Citigroup lowered ProAssurance to a "market perform" rating in a research note on Thursday, April 3rd. StockNews.com initiated coverage on shares of ProAssurance in a research report on Sunday. They set a "hold" rating for the company. Raymond James cut shares of ProAssurance from a "market perform" rating to an "underperform" rating in a report on Thursday, April 10th. Piper Sandler upped their target price on shares of ProAssurance from $18.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Finally, Citizens Jmp downgraded shares of ProAssurance from an "outperform" rating to a "market perform" rating in a report on Thursday, April 3rd. One equities research 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. Based on data from MarketBeat, ProAssurance presently has a consensus rating of "Hold" and a consensus price target of $21.00.
Read Our Latest Report on PRA
ProAssurance Company 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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