Northern Trust Corp Increases Stake in ProAssurance Co. (NYSE:PRA)

Northern Trust Corp boosted its position in shares of ProAssurance Co. (NYSE:PRA - Free Report) by 3.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 559,694 shares of the insurance provider's stock after buying an additional 16,983 shares during the quarter. Northern Trust Corp owned approximately 1.09% of ProAssurance worth $8,905,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in ProAssurance by 4.8% in the 4th 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 in the last quarter. Allspring Global Investments Holdings LLC grew its position in ProAssurance by 0.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,316,249 shares of the insurance provider's stock valued at $20,678,000 after purchasing an additional 4,814 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in 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 purchasing an additional 331,224 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of ProAssurance by 17.2% during the 4th quarter. American Century Companies Inc. now owns 391,609 shares of the insurance provider's stock valued at $6,230,000 after acquiring an additional 57,556 shares during the last quarter. Finally, Voya Investment Management LLC lifted its stake 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 worth $5,665,000 after purchasing an additional 17,959 shares during the period. 85.58% of the stock is currently owned by institutional investors.

ProAssurance Stock Up 0.4%

NYSE PRA opened at $23.24 on Monday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.35. The company has a fifty day moving average of $22.23 and a two-hundred day moving average of $17.97. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 27.99 and a beta of 0.04. ProAssurance Co. has a 52 week low of $10.76 and a 52 week high of $23.70.

ProAssurance (NYSE:PRA - Get Free Report) last issued its earnings results on Tuesday, May 6th. The insurance provider reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.06). The company had revenue of $236.28 million for the quarter, compared to analysts' expectations of $272.85 million. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. The firm's revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 earnings per share. On average, analysts predict that ProAssurance Co. will post 0.8 earnings per share for the current year.

Wall Street Analyst Weigh In

PRA has been the topic of a number of recent analyst reports. Citigroup cut shares of ProAssurance to a "market perform" rating in a research note on Thursday, April 3rd. Citizens Jmp lowered shares of ProAssurance from an "outperform" rating 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 report on Thursday, April 10th. Piper Sandler raised their target price 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, StockNews.com began coverage on shares of ProAssurance in a report on Monday. They issued a "hold" rating for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, ProAssurance currently has an average rating of "Hold" and an average target price of $21.00.

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.

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