Jacobs Levy Equity Management Inc. cut its stake in shares of ProAssurance Co. (NYSE:PRA - Free Report) by 9.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 531,284 shares of the insurance provider's stock after selling 56,617 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.04% of ProAssurance worth $8,453,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the company. Sterling Capital Management LLC lifted its holdings in 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 grew its stake in ProAssurance by 75.4% in the 4th quarter. KBC Group NV now owns 4,184 shares of the insurance provider's stock valued at $67,000 after purchasing an additional 1,798 shares during the period. Aquatic Capital Management LLC increased its position 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 valued at $99,000 after purchasing an additional 3,714 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of ProAssurance during the 4th quarter worth $150,000. Finally, Scotia Capital Inc. purchased a new position in shares of ProAssurance in the 4th quarter worth about $173,000. 85.58% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the stock. Piper Sandler increased their price target 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. Citigroup downgraded shares of ProAssurance to a "market perform" rating in a research report on Thursday, April 3rd. Raymond James lowered shares of ProAssurance from a "market perform" rating to an "underperform" rating in a research note on Thursday, April 10th. StockNews.com started coverage on ProAssurance in a research note on Monday. They issued a "hold" rating on the stock. Finally, Citizens Jmp lowered ProAssurance from an "outperform" rating to a "market perform" rating in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $21.00.
Check Out Our Latest Report on ProAssurance
ProAssurance Stock Performance
NYSE:PRA traded up $0.05 on Monday, reaching $23.29. 181,329 shares of the company's stock were exchanged, compared to its average volume of 444,307. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 28.05 and a beta of 0.04. 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 fifty day simple moving average of $22.23 and a 200-day simple moving average of $17.97. ProAssurance Co. has a 52 week low of $10.76 and a 52 week high of $23.70.
ProAssurance (NYSE:PRA - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.06). ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. The business had revenue of $236.28 million for the quarter, compared to analysts' expectations of $272.85 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. The business's quarterly revenue was down 4.5% compared to the same quarter last year. As a group, sell-side analysts predict that ProAssurance Co. will post 0.8 earnings per share for the current year.
About ProAssurance
(
Free Report)
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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