ProAssurance Co. (NYSE:PRA) Shares Bought by Northern Trust Corp

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

A number of other institutional investors also recently modified their holdings of PRA. Dimensional Fund Advisors LP increased its position in ProAssurance by 4.8% during the 4th 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 during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 acquiring an additional 4,814 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in ProAssurance by 92.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider's stock worth $10,992,000 after purchasing an additional 331,224 shares during the period. American Century Companies Inc. lifted 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 buying an additional 57,556 shares during the period. Finally, Voya Investment Management LLC boosted its position in ProAssurance by 5.3% in the fourth 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 last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

ProAssurance Price Performance

NYSE PRA traded down $0.01 during mid-day trading on Friday, hitting $23.16. The stock had a trading volume of 801,375 shares, compared to its average volume of 453,095. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 27.90 and a beta of 0.04. The firm's 50 day moving average is $23.00 and its 200 day moving average is $18.23. ProAssurance Co. has a twelve month low of $10.76 and a twelve month high of $23.70. 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 released 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 for the quarter, compared to analysts' expectations of $272.85 million. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The business's revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.08 earnings per share. Equities research analysts forecast that ProAssurance Co. will post 0.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on PRA. Wall Street Zen started coverage on shares of ProAssurance in a research note on Monday, May 19th. They set a "hold" rating on the stock. 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 report on Thursday, May 8th. Citigroup downgraded ProAssurance to a "market perform" rating in a research report on Thursday, April 3rd. Raymond James cut ProAssurance from a "market perform" rating to an "underperform" rating in a research note on Thursday, April 10th. Finally, Citizens Jmp downgraded shares of ProAssurance from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus 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.