Northern Trust Corp Decreases Stock Holdings in ProAssurance Corporation $PRA

Key Points

• Northern Trust Corp has reduced its stake in ProAssurance Corporation by 4.3%, now holding approximately 1.04% of the company's shares, valued at about $12.5 million.
• ProAssurance recently reported earnings per share of $0.52, exceeding analysts' expectations, despite a 19.9% decline in revenue compared to the previous year.
• Current analyst ratings show a consensus rating of "Reduce" for ProAssurance, with price targets ranging from a neutral rating at $25.00 to a target price of $21.50.

Northern Trust Corp lessened its position in shares of ProAssurance Corporation (NYSE:PRA - Free Report) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 535,726 shares of the insurance provider's stock after selling 23,968 shares during the quarter. Northern Trust Corp owned about 1.04% of ProAssurance worth $12,509,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of ProAssurance by 307.3% during the 1st quarter. GAMMA Investing LLC now owns 2,073 shares of the insurance provider's stock worth $48,000 after purchasing an additional 1,564 shares during the last quarter. CWM LLC grew its stake in ProAssurance by 95.9% during the first quarter. CWM LLC now owns 2,204 shares of the insurance provider's stock worth $51,000 after purchasing an additional 1,079 shares during the period. Longfellow Investment Management Co. LLC bought a new position in ProAssurance in the first quarter worth approximately $75,000. Wolverine Asset Management LLC bought a new position in shares of ProAssurance in the first quarter valued at approximately $84,000. Finally, Bayesian Capital Management LP bought a new stake in ProAssurance during the fourth quarter worth $177,000. Institutional investors own 85.58% of the company's stock.

ProAssurance Stock Down 0.0%

PRA stock traded down $0.01 during trading on Wednesday, hitting $23.71. 296,900 shares of the company's stock traded hands, compared to its average volume of 426,210. The business has a fifty day simple moving average of $23.82 and a two-hundred day simple moving average of $22.40. The company has a quick ratio of 0.26, a current 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 has a market capitalization of $1.22 billion, a P/E ratio of 25.22 and a beta of 0.12.

ProAssurance (NYSE:PRA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.33. The firm had revenue of $271.94 million for 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 earnings per share. Sell-side analysts anticipate that ProAssurance Corporation will post 0.8 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PRA shares. Zacks Research upgraded ProAssurance from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 20th. Wall Street Zen assumed coverage on ProAssurance in a report on Monday, May 19th. They set a "hold" rating on the stock. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $21.50.

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.