Virtu Financial LLC Acquires Shares of 27,388 ProAssurance Corporation (NYSE:PRA)

Key Points

• Virtu Financial LLC acquired 27,388 shares of ProAssurance Corporation, valued at approximately $639,000, increasing its stake to roughly 0.05% as reported in their recent SEC filing.
• Several large investors, including Deutsche Bank AG and Alpine Associates Management Inc., have also increased their stakes in ProAssurance during the fourth and first quarters.
• Analysts have mixed ratings on ProAssurance, with a consensus target price of $21.50 and recommendations ranging from "hold" to "sell." The stock recently reported an earnings per share of $0.52, exceeding expectations.

Virtu Financial LLC acquired a new stake in ProAssurance Corporation (NYSE:PRA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 27,388 shares of the insurance provider's stock, valued at approximately $639,000. Virtu Financial LLC owned approximately 0.05% of ProAssurance as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Deutsche Bank AG grew its position in ProAssurance by 50.1% in the fourth quarter. Deutsche Bank AG now owns 47,679 shares of the insurance provider's stock valued at $759,000 after acquiring an additional 15,921 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in ProAssurance by 10.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,977 shares of the insurance provider's stock valued at $2,513,000 after acquiring an additional 15,542 shares in the last quarter. GAMMA Investing LLC grew its position in ProAssurance by 307.3% in the first quarter. GAMMA Investing LLC now owns 2,073 shares of the insurance provider's stock valued at $48,000 after acquiring an additional 1,564 shares in the last quarter. Alpine Associates Management Inc. acquired a new stake in ProAssurance in the first quarter valued at approximately $5,167,000. Finally, Victory Capital Management Inc. acquired a new stake in ProAssurance in the first quarter valued at approximately $209,000. Institutional investors and hedge funds own 85.58% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Piper Sandler increased their price objective on shares of ProAssurance from $18.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Wall Street Zen initiated coverage on shares of ProAssurance in a research report on Monday, May 19th. They set a "hold" rating for the company. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $21.50.

ProAssurance Stock Up 0.4%

PRA stock opened at $24.04 on Wednesday. ProAssurance Corporation has a twelve month low of $12.43 and a twelve month high of $24.05. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $1.24 billion, a P/E ratio of 25.57 and a beta of 0.13. The firm has a 50 day simple moving average of $23.45 and a 200-day simple moving average of $21.13.

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

About ProAssurance

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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