ProAssurance Co. (NYSE:PRA) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in shares of ProAssurance Co. (NYSE:PRA - Free Report) by 9,409.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,405 shares of the insurance provider's stock after buying an additional 47,896 shares during the quarter. GAMMA Investing LLC owned 0.09% of ProAssurance worth $1,130,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its holdings in ProAssurance by 2,655.2% during the 4th 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. Arrowstreet Capital Limited Partnership raised its position in shares of ProAssurance by 92.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider's stock valued at $10,992,000 after acquiring an additional 331,224 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in ProAssurance during the fourth quarter worth $2,466,000. Dimensional Fund Advisors LP lifted its stake 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 worth $43,019,000 after purchasing an additional 123,232 shares during the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new position in ProAssurance in the fourth quarter worth $1,654,000. 85.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wall Street Zen initiated coverage on shares of ProAssurance in a report on Monday, May 19th. They set a "hold" rating on the stock. Citigroup cut shares of ProAssurance to a "market perform" rating in a report on Thursday, April 3rd. Raymond James downgraded ProAssurance from a "market perform" rating to an "underperform" rating in a research note on Thursday, April 10th. Piper Sandler increased their price target on ProAssurance from $18.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, Citizens Jmp lowered shares of ProAssurance from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 3rd. One 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. According to data from MarketBeat.com, ProAssurance currently has a consensus rating of "Hold" and a consensus target price of $21.00.

ProAssurance Stock Performance

PRA stock traded down $0.17 during trading on Monday, reaching $22.75. 415,218 shares of the company's stock were exchanged, compared to its average volume of 464,093. ProAssurance Co. has a 1-year low of $10.76 and a 1-year high of $23.70. The firm has a market cap of $1.17 billion, a PE ratio of 27.41 and a beta of 0.14. The company's fifty day moving average price is $23.11 and its 200-day moving average price is $18.91. 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 posted its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.06). ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. The company had revenue of $236.28 million for the quarter, compared to analyst estimates of $272.85 million. During the same quarter in the prior year, the business earned $0.08 EPS. ProAssurance's revenue was down 4.5% compared to the same quarter last year. On average, research analysts expect that ProAssurance Co. will post 0.8 EPS for the current fiscal year.

ProAssurance 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.