Lighthouse Investment Partners LLC boosted its holdings in ProAssurance Co. (NYSE:PRA - Free Report) by 243.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,766 shares of the insurance provider's stock after acquiring an additional 79,226 shares during the quarter. Lighthouse Investment Partners LLC owned about 0.22% of ProAssurance worth $1,778,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Sterling Capital Management LLC grew its stake 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 boosted its holdings in 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 buying an additional 1,798 shares in the last quarter. Aquatic Capital Management LLC boosted its holdings in 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 buying an additional 3,714 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in ProAssurance in the fourth quarter worth approximately $150,000. Finally, Scotia Capital Inc. bought a new position in shares of ProAssurance in the fourth quarter valued at $173,000. 85.58% of the stock is owned by institutional investors and hedge funds.
ProAssurance Stock Up 0.2%
NYSE PRA traded up $0.05 during trading on Monday, reaching $23.29. The company's stock had a trading volume of 181,329 shares, compared to its average volume of 444,307. ProAssurance Co. has a 1-year low of $10.76 and a 1-year high of $23.70. The business has a 50-day moving average price of $22.23 and a 200-day moving average price of $17.97. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $1.19 billion, a PE ratio of 28.05 and a beta of 0.04.
ProAssurance (NYSE:PRA - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). The company 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%. The business's revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.08 EPS. On average, research analysts forecast that ProAssurance Co. will post 0.8 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research firms have recently weighed in on PRA. Citizens Jmp lowered ProAssurance from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 3rd. Piper Sandler upped their target price on ProAssurance from $18.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. StockNews.com initiated coverage on ProAssurance in a research report on Monday. They issued a "hold" rating for the company. Citigroup downgraded ProAssurance to a "market perform" rating in a report on Thursday, April 3rd. Finally, Raymond James cut shares of ProAssurance from a "market perform" rating to an "underperform" rating in a report on Thursday, April 10th. 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. According to data from MarketBeat.com, ProAssurance currently has an average rating of "Hold" and a consensus target price of $21.00.
Read Our Latest Stock Report on ProAssurance
ProAssurance Company Profile
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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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