Janus Henderson Group PLC Buys 621,935 Shares of ProAssurance Co. (NYSE:PRA)

Janus Henderson Group PLC increased its holdings in ProAssurance Co. (NYSE:PRA - Free Report) by 2,655.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 645,358 shares of the insurance provider's stock after acquiring an additional 621,935 shares during the quarter. Janus Henderson Group PLC owned about 1.26% of ProAssurance worth $10,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Sterling Capital Management LLC raised its position in shares of ProAssurance by 859.4% in 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. KBC Group NV raised its holdings in ProAssurance by 75.4% in the fourth quarter. KBC Group NV now owns 4,184 shares of the insurance provider's stock worth $67,000 after buying an additional 1,798 shares during the last quarter. Aquatic Capital Management LLC lifted its stake in shares of ProAssurance by 148.6% in the fourth quarter. Aquatic Capital Management LLC now owns 6,214 shares of the insurance provider's stock worth $99,000 after buying an additional 3,714 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of ProAssurance during the fourth quarter valued at approximately $150,000. Finally, Scotia Capital Inc. purchased a new stake in shares of ProAssurance during the fourth quarter valued at approximately $173,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

ProAssurance Stock Performance

Shares of PRA stock traded up $0.02 during trading hours on Thursday, reaching $23.18. 163,971 shares of the company traded hands, compared to its average volume of 447,865. The firm has a 50-day moving average price of $22.70 and a 200 day moving average price of $18.10. The company has a market cap of $1.19 billion, a P/E ratio of 27.92 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. ProAssurance Co. has a 12-month low of $10.76 and a 12-month high of $23.70.

ProAssurance (NYSE:PRA - Get Free Report) last released its 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). The firm had revenue of $236.28 million for the quarter, compared to the consensus estimate of $272.85 million. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. ProAssurance's revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 EPS. As a group, sell-side analysts predict that ProAssurance Co. will post 0.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PRA has been the subject of several recent analyst reports. Piper Sandler boosted their price target on ProAssurance from $18.00 to $25.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Citigroup cut shares of ProAssurance to a "market perform" rating in a research note on Thursday, April 3rd. Citizens Jmp lowered shares of ProAssurance from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 3rd. Raymond James downgraded shares of ProAssurance from a "market perform" rating to an "underperform" rating in a research report on Thursday, April 10th. Finally, Wall Street Zen started coverage on shares of ProAssurance in a research report on Monday. They issued a "hold" rating for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $21.00.

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.