Wellington Management Group LLP Has $47.53 Million Stake in ProAssurance Co. (NYSE:PRA)

Wellington Management Group LLP trimmed its stake in shares of ProAssurance Co. (NYSE:PRA - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 about 5.84% of ProAssurance worth $47,526,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC raised its holdings in shares of ProAssurance by 859.4% during the fourth 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 during the period. KBC Group NV raised its holdings in shares of ProAssurance by 75.4% during the fourth quarter. KBC Group NV now owns 4,184 shares of the insurance provider's stock worth $67,000 after acquiring an additional 1,798 shares during the period. Aquatic Capital Management LLC raised its holdings in shares of ProAssurance by 148.6% during the fourth quarter. Aquatic Capital Management LLC now owns 6,214 shares of the insurance provider's stock worth $99,000 after acquiring an additional 3,714 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of ProAssurance during the fourth quarter worth $150,000. Finally, Scotia Capital Inc. acquired a new stake in shares of ProAssurance during the fourth quarter worth $173,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PRA has been the subject of a number of analyst reports. Raymond James downgraded shares of ProAssurance from a "market perform" rating to an "underperform" rating in a research report on Thursday, April 10th. Piper Sandler raised their target price 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 began coverage on shares of ProAssurance in a research report 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 note on Thursday, April 3rd. Finally, Citigroup cut shares of ProAssurance to a "market perform" rating in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, ProAssurance currently has a consensus rating of "Hold" and an average price target of $21.00.

ProAssurance Price Performance

NYSE:PRA traded down $0.02 during mid-day trading on Tuesday, reaching $23.17. The stock had a trading volume of 148,397 shares, compared to its average volume of 455,626. ProAssurance Co. has a 12 month low of $10.76 and a 12 month high of $23.70. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a market capitalization of $1.19 billion, a PE ratio of 27.92 and a beta of 0.04. The stock has a 50-day simple moving average of $23.15 and a two-hundred day simple moving average of $18.50.

ProAssurance (NYSE:PRA - Get Free Report) last issued its 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 analyst estimates of $272.85 million. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. The business's quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 EPS. On average, equities analysts anticipate that ProAssurance Co. will post 0.8 earnings per share for the current 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.