ProAssurance Co. (NYSE:PRA) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. trimmed its position in shares of ProAssurance Co. (NYSE:PRA - Free Report) by 48.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,440 shares of the insurance provider's stock after selling 87,098 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.18% of ProAssurance worth $1,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in ProAssurance by 4.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,703,953 shares of the insurance provider's stock valued at $43,019,000 after purchasing an additional 123,232 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of ProAssurance by 0.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,316,249 shares of the insurance provider's stock worth $20,678,000 after buying an additional 4,814 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in ProAssurance by 92.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider's stock worth $10,992,000 after acquiring an additional 331,224 shares during the last quarter. Northern Trust Corp raised its holdings in ProAssurance by 3.1% during the 4th quarter. Northern Trust Corp now owns 559,694 shares of the insurance provider's stock valued at $8,905,000 after buying an additional 16,983 shares during the period. Finally, American Century Companies Inc. lifted its position in ProAssurance by 17.2% in the fourth quarter. American Century Companies Inc. now owns 391,609 shares of the insurance provider's stock worth $6,230,000 after buying an additional 57,556 shares during the last quarter. 85.58% of the stock is owned by institutional investors.

ProAssurance Stock Up 0.1%

Shares of PRA stock traded up $0.02 during trading on Wednesday, reaching $23.17. The company's stock had a trading volume of 131,294 shares, compared to its average volume of 452,629. ProAssurance Co. has a 1-year low of $10.76 and a 1-year high of $23.70. The stock's 50-day moving average price is $23.15 and its 200 day moving average price is $18.32. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 27.91 and a beta of 0.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28.

ProAssurance (NYSE:PRA - Get Free Report) last posted its quarterly 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). The business had revenue of $236.28 million during the quarter, compared to analyst estimates of $272.85 million. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. The firm's quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 earnings per share. On average, research analysts anticipate that ProAssurance Co. will post 0.8 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PRA shares. Citizens Jmp downgraded shares of ProAssurance from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 3rd. Piper Sandler lifted their target price on ProAssurance from $18.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Wall Street Zen began coverage on ProAssurance in a report on Monday, May 19th. They set a "hold" rating on the stock. Raymond James lowered ProAssurance from a "market perform" rating to an "underperform" rating in a research report on Thursday, April 10th. Finally, Citigroup cut shares of ProAssurance to a "market perform" rating in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $21.00.

ProAssurance Company 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.