Millennium Management LLC Has $1.73 Million Stake in ProAssurance Co. (NYSE:PRA)

Millennium Management LLC trimmed its holdings in ProAssurance Co. (NYSE:PRA - Free Report) by 21.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 108,877 shares of the insurance provider's stock after selling 30,203 shares during the period. Millennium Management LLC owned 0.21% of ProAssurance worth $1,732,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC increased its position in shares of ProAssurance by 859.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 1,461 shares during the last quarter. KBC Group NV lifted its stake in ProAssurance by 75.4% in 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. Aquatic Capital Management LLC lifted its stake in ProAssurance by 148.6% in the fourth quarter. Aquatic Capital Management LLC now owns 6,214 shares of the insurance provider's stock worth $99,000 after acquiring an additional 3,714 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of ProAssurance during the 4th quarter worth approximately $150,000. Finally, Scotia Capital Inc. purchased a new stake in shares of ProAssurance during the 4th quarter worth approximately $173,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

ProAssurance Stock Performance

ProAssurance stock traded down $0.03 during mid-day trading on Wednesday, reaching $23.15. The company's stock had a trading volume of 442,560 shares, compared to its average volume of 457,288. ProAssurance Co. has a twelve month low of $10.76 and a twelve month high of $23.70. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 27.89 and a beta of 0.04. 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 business has a 50 day moving average price of $23.14 and a 200-day moving average price of $18.53.

ProAssurance (NYSE:PRA - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. 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 previous year, the firm posted $0.08 EPS. ProAssurance's quarterly revenue was down 4.5% on a year-over-year basis. Sell-side analysts predict that ProAssurance Co. will post 0.8 EPS 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.