Corton Capital Inc. trimmed its holdings in ProAssurance Co. (NYSE:PRA - Free Report) by 46.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 filing with the Securities & Exchange Commission.
Several other large investors have also made changes to their positions in the business. Barclays PLC increased its stake in ProAssurance by 307.5% during the third quarter. Barclays PLC now owns 85,117 shares of the insurance provider's stock worth $1,280,000 after acquiring an additional 64,228 shares during the last quarter. JPMorgan Chase & Co. increased its stake in ProAssurance by 34.8% during the third quarter. JPMorgan Chase & Co. now owns 253,175 shares of the insurance provider's stock worth $3,808,000 after acquiring an additional 65,325 shares during the last quarter. KBC Group NV increased 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 acquiring an additional 1,798 shares during the last quarter. Savant Capital LLC increased its stake in ProAssurance by 49.6% during the fourth quarter. Savant Capital LLC now owns 45,240 shares of the insurance provider's stock worth $720,000 after acquiring an additional 14,991 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of ProAssurance by 0.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,316,249 shares of the insurance provider's stock valued at $20,678,000 after buying an additional 4,814 shares during the period. 85.58% of the stock is currently owned by hedge funds and other institutional investors.
ProAssurance Trading Down 0.0%
Shares of NYSE PRA traded down $0.01 during trading hours on Friday, reaching $22.90. The stock had a trading volume of 650,720 shares, compared to its average volume of 437,525. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 27.59 and a beta of 0.04. The business's fifty day moving average price is $21.46 and its two-hundred day moving average price is $17.67. ProAssurance Co. has a 52-week low of $10.76 and a 52-week 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 analysts' consensus estimates of $0.19 by ($0.06). The firm had revenue of $236.28 million during the quarter, compared to analysts' expectations of $272.85 million. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. The firm's revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 EPS. Analysts expect that ProAssurance Co. will post 0.8 EPS for the current fiscal year.
Analyst Ratings Changes
PRA has been the subject of several recent analyst reports. StockNews.com initiated coverage on ProAssurance in a research report on Sunday. They set a "hold" rating for the company. Citigroup lowered ProAssurance to a "market perform" rating in a research report on Thursday, April 3rd. Citizens Jmp lowered ProAssurance from an "outperform" rating to a "market perform" rating in a research report on Thursday, April 3rd. Piper Sandler boosted their target price on ProAssurance from $18.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Raymond James lowered ProAssurance from a "market perform" rating to an "underperform" rating in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $21.00.
Read Our Latest Analysis 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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