Lighthouse Investment Partners LLC boosted its holdings in shares of ProAssurance Co. (NYSE:PRA - Free Report) by 243.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 111,766 shares of the insurance provider's stock after buying an additional 79,226 shares during the period. Lighthouse Investment Partners LLC owned approximately 0.22% of ProAssurance worth $1,778,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Sterling Capital Management LLC raised its position in ProAssurance by 859.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,631 shares of the insurance provider's stock valued at $26,000 after buying an additional 1,461 shares during the period. KBC Group NV raised its position in ProAssurance by 75.4% during the fourth quarter. KBC Group NV now owns 4,184 shares of the insurance provider's stock valued at $67,000 after buying an additional 1,798 shares during the period. Aquatic Capital Management LLC raised its position in ProAssurance by 148.6% during the fourth quarter. Aquatic Capital Management LLC now owns 6,214 shares of the insurance provider's stock valued at $99,000 after buying an additional 3,714 shares during the period. KLP Kapitalforvaltning AS acquired a new position in ProAssurance during the fourth quarter valued at $150,000. Finally, Scotia Capital Inc. acquired a new position in ProAssurance during the fourth quarter valued at $173,000. 85.58% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
PRA has been the topic of several recent analyst reports. Citigroup lowered ProAssurance to a "market perform" rating in a research report on Thursday, April 3rd. Citizens Jmp downgraded ProAssurance from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 3rd. Raymond James downgraded 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 Sunday, May 11th. They issued a "hold" rating on the stock. Finally, Piper Sandler boosted their target price on ProAssurance from $18.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $21.00.
Read Our Latest Analysis on PRA
ProAssurance Stock Up 0.4%
Shares of PRA traded up $0.10 during trading hours on Friday, hitting $23.24. 564,419 shares of the company were exchanged, compared to its average volume of 445,308. The company has a market cap of $1.19 billion, a PE ratio of 27.99 and a beta of 0.04. The firm's 50 day moving average is $22.23 and its 200-day moving average is $17.95. ProAssurance Co. has a 52 week low of $10.76 and a 52 week high of $23.70. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28.
ProAssurance (NYSE:PRA - Get Free Report) last released its quarterly earnings results 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 was down 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.08 EPS. On average, equities research analysts forecast that ProAssurance Co. will post 0.8 EPS for the current fiscal year.
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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