Carmignac Gestion acquired a new stake in ProAssurance Corporation (NYSE:PRA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 77,396 shares of the insurance provider's stock, valued at approximately $1,807,000. Carmignac Gestion owned 0.15% of ProAssurance at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the business. Mariner LLC grew its holdings in ProAssurance by 4.2% in the fourth quarter. Mariner LLC now owns 17,007 shares of the insurance provider's stock valued at $271,000 after purchasing an additional 688 shares during the period. CWM LLC grew its holdings in ProAssurance by 95.9% in the first quarter. CWM LLC now owns 2,204 shares of the insurance provider's stock valued at $51,000 after purchasing an additional 1,079 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in ProAssurance by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,991 shares of the insurance provider's stock valued at $461,000 after purchasing an additional 1,127 shares during the period. Sterling Capital Management LLC grew its holdings 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 purchasing an additional 1,461 shares during the period. Finally, GAMMA Investing LLC grew its holdings in ProAssurance by 307.3% in the first quarter. GAMMA Investing LLC now owns 2,073 shares of the insurance provider's stock valued at $48,000 after purchasing an additional 1,564 shares during the period. 85.58% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts have commented on PRA shares. Wall Street Zen started coverage on ProAssurance in a report on Monday, May 19th. They issued a "hold" rating on the stock. Piper Sandler raised their price objective on ProAssurance from $18.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, Zacks Research raised ProAssurance from a "strong sell" rating to a "hold" rating in a research note on Wednesday. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $21.50.
Read Our Latest Stock Report on PRA
ProAssurance Price Performance
Shares of NYSE:PRA traded up $0.0620 during trading on Friday, reaching $24.0020. The stock had a trading volume of 611,083 shares, compared to its average volume of 521,835. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.26 and a current ratio of 0.26. The business has a fifty day moving average price of $23.58 and a 200-day moving average price of $21.58. The stock has a market cap of $1.23 billion, a PE ratio of 25.53 and a beta of 0.13. ProAssurance Corporation has a 1-year low of $12.43 and a 1-year high of $24.14.
ProAssurance (NYSE:PRA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The insurance provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.33. The firm had revenue of $271.94 million for the quarter, compared to analyst estimates of $266.72 million. ProAssurance had a return on equity of 5.62% and a net margin of 4.33%.The business's revenue was down 19.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 earnings per share. On average, equities analysts forecast that ProAssurance Corporation will post 0.8 earnings per share for the current fiscal year.
About ProAssurance
(
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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