Royce & Associates LP Trims Stake in ProAssurance Corporation (NYSE:PRA)

Royce & Associates LP lowered its position in ProAssurance Corporation (NYSE:PRA - Free Report) by 24.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 225,600 shares of the insurance provider's stock after selling 73,000 shares during the quarter. Royce & Associates LP owned about 0.44% of ProAssurance worth $5,268,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in PRA. Mariner LLC grew its holdings in ProAssurance by 4.2% during the 4th quarter. Mariner LLC now owns 17,007 shares of the insurance provider's stock worth $271,000 after acquiring an additional 688 shares in the last quarter. CWM LLC grew its holdings in ProAssurance by 95.9% during the 1st quarter. CWM LLC now owns 2,204 shares of the insurance provider's stock worth $51,000 after acquiring an additional 1,079 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in ProAssurance by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,991 shares of the insurance provider's stock worth $461,000 after acquiring an additional 1,127 shares in the last quarter. Sterling Capital Management LLC grew its holdings in ProAssurance by 859.4% during the 4th 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, GAMMA Investing LLC grew its holdings in 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 acquiring an additional 1,564 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Citizens Jmp cut shares of ProAssurance from an "outperform" rating to a "market perform" rating in a report on Thursday, April 3rd. Piper Sandler raised their price target on shares of ProAssurance from $18.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Citigroup cut shares of ProAssurance to a "market perform" rating in a report on Thursday, April 3rd. Wall Street Zen initiated coverage on shares of ProAssurance in a report on Monday, May 19th. They issued a "hold" rating on the stock. Finally, Raymond James Financial cut shares of ProAssurance from a "market perform" rating to an "underperform" rating in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, ProAssurance has a consensus rating of "Hold" and an average target price of $21.50.

ProAssurance Stock Up 0.1%

NYSE:PRA opened at $23.80 on Monday. ProAssurance Corporation has a fifty-two week low of $11.27 and a fifty-two week high of $23.95. The stock has a market capitalization of $1.22 billion, a P/E ratio of 29.02 and a beta of 0.12. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.26 and a current ratio of 0.26. The company's 50-day simple moving average is $23.29 and its 200-day simple moving average is $20.43.

ProAssurance (NYSE:PRA - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). The company had revenue of $236.28 million during the quarter, compared to analysts' expectations of $272.85 million. ProAssurance had a net margin of 3.72% and a return on equity of 4.51%. The business's revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 earnings per share. On average, equities analysts anticipate that ProAssurance Corporation will post 0.8 earnings per share for the current fiscal year.

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.

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