ProAssurance Co. (NYSE:PRA) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its stake in shares of ProAssurance Co. (NYSE:PRA - Free Report) by 5.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,987,196 shares of the insurance provider's stock after selling 176,889 shares during the period. Wellington Management Group LLP owned approximately 5.84% of ProAssurance worth $47,526,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its position 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 purchasing an additional 1,461 shares during the period. KBC Group NV grew its position in ProAssurance by 75.4% during the 4th quarter. KBC Group NV now owns 4,184 shares of the insurance provider's stock worth $67,000 after purchasing an additional 1,798 shares during the period. Aquatic Capital Management LLC grew its position in 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 period. KLP Kapitalforvaltning AS acquired a new stake in ProAssurance during the 4th quarter worth about $150,000. Finally, Scotia Capital Inc. acquired a new stake in ProAssurance during the 4th quarter worth about $173,000. 85.58% of the stock is owned by institutional investors and hedge funds.

ProAssurance Price Performance

ProAssurance stock traded up $0.04 during midday trading on Friday, reaching $23.19. The company had a trading volume of 475,927 shares, compared to its average volume of 456,850. The company has a market capitalization of $1.19 billion, a P/E ratio of 27.94 and a beta of 0.04. ProAssurance Co. has a 12-month low of $10.76 and a 12-month high of $23.70. The firm's fifty day simple moving average is $23.15 and its 200-day simple moving average is $18.43. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28.

ProAssurance (NYSE:PRA - Get Free Report) last issued 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). 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 3.71% and a return on equity of 2.65%. The company's quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.08 earnings per share. As a group, equities analysts anticipate that ProAssurance Co. will post 0.8 EPS for the current year.

Analyst Ratings Changes

PRA has been the topic of a number of analyst reports. Wall Street Zen initiated coverage on ProAssurance in a research report on Monday, May 19th. They set a "hold" rating on the stock. Citizens Jmp cut ProAssurance from an "outperform" rating to a "market perform" rating in a research report on Thursday, April 3rd. Piper Sandler raised their target price on ProAssurance from $18.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Raymond James cut ProAssurance from a "market perform" rating to an "underperform" rating in a research report on Thursday, April 10th. Finally, Citigroup cut ProAssurance to a "market perform" rating in a research report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $21.00.

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.