Deutsche Bank AG lifted its position in shares of ProAssurance Co. (NYSE:PRA - Free Report) by 50.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,679 shares of the insurance provider's stock after buying an additional 15,921 shares during the quarter. Deutsche Bank AG owned about 0.09% of ProAssurance worth $759,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. KBC Group NV raised 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 valued at $67,000 after purchasing an additional 1,798 shares in the last quarter. Savant Capital LLC raised its stake in ProAssurance by 49.6% in the fourth quarter. Savant Capital LLC now owns 45,240 shares of the insurance provider's stock valued at $720,000 after purchasing an additional 14,991 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in ProAssurance by 0.4% in the fourth 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 in the last quarter. New York State Teachers Retirement System raised its stake in ProAssurance by 2.2% in the fourth quarter. New York State Teachers Retirement System now owns 89,326 shares of the insurance provider's stock valued at $1,421,000 after purchasing an additional 1,937 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in ProAssurance by 0.8% in the fourth quarter. Rhumbline Advisers now owns 160,707 shares of the insurance provider's stock valued at $2,557,000 after purchasing an additional 1,281 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company's stock.
Analysts Set New Price Targets
A number of research analysts recently commented on PRA shares. Citigroup downgraded ProAssurance to a "market perform" rating in a research note on Thursday, April 3rd. Wall Street Zen started coverage on ProAssurance in a research note on Monday, May 19th. They issued a "hold" rating for the company. Citizens Jmp downgraded ProAssurance from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 3rd. Piper Sandler boosted their target price on ProAssurance from $18.00 to $25.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, Raymond James downgraded ProAssurance from a "market perform" rating to an "underperform" rating in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $21.00.
Read Our Latest Research Report on PRA
ProAssurance Trading Up 0.2%
Shares of NYSE:PRA traded up $0.04 during midday trading on Friday, hitting $23.19. 475,927 shares of the stock were exchanged, compared to its average volume of 456,850. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 27.94 and a beta of 0.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28. The business's 50-day moving average price is $23.15 and its 200 day moving average price is $18.45. ProAssurance Co. has a 12 month low of $10.76 and a 12 month high of $23.70.
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 the consensus estimate of $0.19 by ($0.06). The firm had revenue of $236.28 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 earnings per share. Analysts predict that ProAssurance Co. will post 0.8 earnings per share for the current year.
ProAssurance Company Profile
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Free Report)
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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