Two Sigma Investments LP Cuts Stock Position in ProAssurance Co. (NYSE:PRA)

Two Sigma Investments LP reduced its position in shares of ProAssurance Co. (NYSE:PRA - Free Report) by 26.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 163,298 shares of the insurance provider's stock after selling 59,265 shares during the quarter. Two Sigma Investments LP owned about 0.32% of ProAssurance worth $2,598,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PRA. Mariner LLC lifted its position in ProAssurance by 4.2% during the fourth quarter. Mariner LLC now owns 17,007 shares of the insurance provider's stock valued at $271,000 after purchasing an additional 688 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of ProAssurance by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,991 shares of the insurance provider's stock valued at $461,000 after acquiring an additional 1,127 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of ProAssurance by 0.8% in the 4th quarter. Rhumbline Advisers now owns 160,707 shares of the insurance provider's stock valued at $2,557,000 after acquiring an additional 1,281 shares during the last quarter. Sterling Capital Management LLC grew its position in ProAssurance by 859.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider's stock worth $26,000 after acquiring an additional 1,461 shares in the last quarter. Finally, KBC Group NV increased its stake in ProAssurance by 75.4% during 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. 85.58% of the stock is owned by hedge funds and other institutional investors.

ProAssurance Trading Down 0.1%

Shares of NYSE:PRA traded down $0.03 on Wednesday, hitting $23.16. 72,464 shares of the company's stock were exchanged, compared to its average volume of 456,016. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 27.90 and a beta of 0.04. ProAssurance Co. has a 12 month low of $10.76 and a 12 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. The business's 50 day simple moving average is $23.14 and its two-hundred day simple moving average is $18.53.

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

Analysts Set New Price Targets

PRA has been the subject of a number of recent research reports. Piper Sandler lifted their target price on ProAssurance from $18.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Wall Street Zen began coverage on ProAssurance in a research report on Monday, May 19th. They issued a "hold" rating for the company. Citigroup cut shares of ProAssurance to a "market perform" rating in a research report on Thursday, April 3rd. Raymond James downgraded shares of ProAssurance from a "market perform" rating to an "underperform" rating in a research note on Thursday, April 10th. Finally, Citizens Jmp cut 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 given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target 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.