ProAssurance Corporation $PRA Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in ProAssurance Corporation by 15.0%, selling 89,875 shares, and currently owns about 1.00% of the company valued at approximately $11.9 million.
• ProAssurance reported a quarterly earnings per share of $0.52, exceeding analysts' expectations of $0.19, although its revenue decreased by 19.9% year-over-year.
• Analysts have varied opinions on ProAssurance, with the average rating being a "Hold" and a consensus target price set at $21.50, indicating mixed market sentiment.

Charles Schwab Investment Management Inc. trimmed its position in shares of ProAssurance Corporation (NYSE:PRA - Free Report) by 15.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 510,023 shares of the insurance provider's stock after selling 89,875 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.00% of ProAssurance worth $11,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. ABC Arbitrage SA purchased a new position in shares of ProAssurance during the 1st quarter worth about $5,573,000. Alpine Associates Management Inc. purchased a new position in shares of ProAssurance during the 1st quarter worth about $5,167,000. XTX Topco Ltd purchased a new position in shares of ProAssurance during the 1st quarter worth about $319,000. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of ProAssurance during the 1st quarter worth about $224,000. Finally, Wakefield Asset Management LLLP boosted its stake in shares of ProAssurance by 8.3% during the 1st quarter. Wakefield Asset Management LLLP now owns 70,519 shares of the insurance provider's stock worth $1,647,000 after purchasing an additional 5,387 shares during the period. 85.58% of the stock is currently owned by institutional investors.

ProAssurance Stock Performance

NYSE PRA traded up $0.04 on Friday, hitting $23.82. 375,133 shares of the company's stock traded hands, compared to its average volume of 503,686. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.33. ProAssurance Corporation has a 1-year low of $12.43 and a 1-year high of $24.14. The firm's 50-day moving average price is $23.68 and its two-hundred day moving average price is $21.89. The firm has a market capitalization of $1.22 billion, a PE ratio of 25.34 and a beta of 0.13.

ProAssurance (NYSE:PRA - Get Free Report) last posted its earnings results on Tuesday, August 5th. The insurance provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.33. The firm had revenue of $271.94 million during the quarter, compared to analyst estimates of $266.72 million. ProAssurance had a net margin of 4.33% and a return on equity of 5.62%. The business's quarterly revenue was down 19.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 EPS. As a group, analysts expect that ProAssurance Corporation will post 0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

PRA has been the subject of a number of research analyst reports. Wall Street Zen began coverage on shares of ProAssurance in a report on Monday, May 19th. They set a "hold" rating for the company. Piper Sandler boosted their price objective on shares of ProAssurance from $18.00 to $25.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, Zacks Research raised ProAssurance from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 20th. Five investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $21.50.

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.