Teacher Retirement System of Texas Trims Holdings in ProAssurance Corporation (NYSE:PRA)

Teacher Retirement System of Texas reduced its stake in ProAssurance Corporation (NYSE:PRA - Free Report) by 63.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,769 shares of the insurance provider's stock after selling 24,105 shares during the quarter. Teacher Retirement System of Texas' holdings in ProAssurance were worth $322,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Sterling Capital Management LLC increased its stake in shares of 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 purchasing an additional 1,461 shares during the last quarter. GAMMA Investing LLC increased its stake 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. Aquatic Capital Management LLC increased its stake in shares of ProAssurance by 148.6% during the 4th quarter. Aquatic Capital Management LLC now owns 6,214 shares of the insurance provider's stock worth $99,000 after purchasing an additional 3,714 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new position in shares of ProAssurance during the 1st quarter worth about $205,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of ProAssurance during the 4th quarter worth about $150,000. 85.58% of the stock is owned by institutional investors.

ProAssurance Price Performance

Shares of NYSE PRA remained flat at $23.85 during mid-day trading on Friday. 378,162 shares of the stock were exchanged, compared to its average volume of 489,964. The company has a market capitalization of $1.22 billion, a PE ratio of 29.09 and a beta of 0.12. The business has a fifty day moving average of $23.21 and a 200-day moving average of $20.07. ProAssurance Corporation has a 52-week low of $11.17 and a 52-week high of $23.93. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.26 and a current ratio of 0.26.

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 analysts' consensus estimates of $0.19 by ($0.06). ProAssurance had a net margin of 3.72% and a return on equity of 4.51%. The firm had revenue of $236.28 million for the quarter, compared to the consensus estimate of $272.85 million. During the same period in the previous year, the business earned $0.08 earnings per share. The firm's revenue for the quarter was down 4.5% on a year-over-year basis. Equities research analysts anticipate that ProAssurance Corporation will post 0.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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