Carmignac Gestion Takes Position in ProAssurance Corporation $PRA

Key Points

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Carmignac Gestion bought a new position in shares of ProAssurance Corporation (NYSE:PRA - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 77,396 shares of the insurance provider's stock, valued at approximately $1,807,000. Carmignac Gestion owned 0.15% of ProAssurance as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the stock. 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. Janus Henderson Group PLC boosted its holdings in ProAssurance by 2,655.2% during the fourth quarter. Janus Henderson Group PLC now owns 645,358 shares of the insurance provider's stock worth $10,268,000 after buying an additional 621,935 shares during the last quarter. Northern Trust Corp grew its position in shares of ProAssurance by 3.1% during the 4th quarter. Northern Trust Corp now owns 559,694 shares of the insurance provider's stock worth $8,905,000 after buying an additional 16,983 shares during the period. American Century Companies Inc. increased its stake in shares of ProAssurance by 14.0% in the 1st quarter. American Century Companies Inc. now owns 446,311 shares of the insurance provider's stock valued at $10,421,000 after acquiring an additional 54,702 shares during the last quarter. Finally, Voya Investment Management LLC raised its position in shares of ProAssurance by 5.3% in the 4th quarter. Voya Investment Management LLC now owns 356,081 shares of the insurance provider's stock valued at $5,665,000 after acquiring an additional 17,959 shares during the period. Institutional investors and hedge funds own 85.58% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PRA. Zacks Research upgraded shares of ProAssurance from a "strong sell" rating to a "hold" rating in a report on Wednesday. Piper Sandler boosted their price target on shares of ProAssurance from $18.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, Wall Street Zen began coverage on shares of ProAssurance in a research report on Monday, May 19th. They issued a "hold" rating for the company. Five investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, ProAssurance has an average rating of "Reduce" and an average target price of $21.50.

ProAssurance Stock Up 0.3%

Shares of PRA traded up $0.0620 during mid-day trading on Friday, hitting $24.0020. 611,083 shares of the company's stock were exchanged, compared to its average volume of 521,835. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.26 and a quick ratio of 0.26. ProAssurance Corporation has a 52 week low of $12.43 and a 52 week high of $24.14. The company has a market cap of $1.23 billion, a PE ratio of 25.53 and a beta of 0.13. The company has a 50-day simple moving average of $23.58 and a 200 day simple moving average of $21.63.

ProAssurance (NYSE:PRA - Get Free Report) last announced its earnings results on Tuesday, August 5th. The insurance provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.19 by $0.33. The business had revenue of $271.94 million during the quarter, compared to analysts' expectations of $266.72 million. ProAssurance had a net margin of 4.33% and a return on equity of 5.62%. The firm's revenue was down 19.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 earnings per share. On average, research analysts forecast that ProAssurance Corporation will post 0.8 earnings per share for the current fiscal year.

About ProAssurance

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.