ProAssurance Co. (NYSE:PRA) Short Interest Down 29.6% in March

ProAssurance Co. (NYSE:PRA - Get Free Report) was the recipient of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 568,200 shares, a decrease of 29.6% from the March 15th total of 807,200 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily volume of 277,700 shares, the days-to-cover ratio is presently 2.0 days.

ProAssurance Trading Down 4.8 %

Shares of NYSE:PRA traded down $0.66 during mid-day trading on Friday, reaching $13.28. The stock had a trading volume of 341,932 shares, compared to its average volume of 278,613. The firm has a market cap of $676.63 million, a PE ratio of -17.92 and a beta of 0.24. The firm has a 50 day simple moving average of $12.77 and a two-hundred day simple moving average of $14.16. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.38. ProAssurance has a twelve month low of $11.76 and a twelve month high of $19.38.

ProAssurance (NYSE:PRA - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The insurance provider reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.09). The firm had revenue of $296.96 million during the quarter, compared to analyst estimates of $252.74 million. ProAssurance had a negative net margin of 3.39% and a negative return on equity of 0.53%. The business's revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 earnings per share. On average, research analysts predict that ProAssurance will post 0.26 EPS for the current fiscal year.

Institutional Trading of ProAssurance

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in ProAssurance by 0.5% during the 1st quarter. BlackRock Inc. now owns 7,890,417 shares of the insurance provider's stock worth $145,815,000 after buying an additional 38,705 shares during the period. Vanguard Group Inc. raised its holdings in ProAssurance by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 6,140,790 shares of the insurance provider's stock worth $119,806,000 after buying an additional 74,033 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in ProAssurance by 2.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,019,414 shares of the insurance provider's stock worth $71,349,000 after buying an additional 60,057 shares during the period. Dimensional Fund Advisors LP raised its holdings in ProAssurance by 6.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,838,938 shares of the insurance provider's stock worth $39,150,000 after buying an additional 168,634 shares during the period. Finally, State Street Corp raised its holdings in ProAssurance by 0.3% during the 3rd quarter. State Street Corp now owns 1,945,679 shares of the insurance provider's stock worth $38,058,000 after buying an additional 6,345 shares during the period. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PRA shares. Truist Financial dropped their price objective on shares of ProAssurance from $15.00 to $14.00 and set a "hold" rating for the company in a research note on Thursday, February 29th. JMP Securities dropped their price objective on shares of ProAssurance from $24.00 to $22.00 and set a "market outperform" rating for the company in a research note on Thursday, February 29th. Finally, Piper Sandler lowered their target price on shares of ProAssurance from $16.00 to $15.00 and set an "overweight" rating on the stock in a report on Monday, March 4th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $17.00.

About ProAssurance

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.