Assenagon Asset Management S.A. Purchases Shares of 172,832 ProAssurance Co. (NYSE:PRA)

Assenagon Asset Management S.A. purchased a new position in shares of ProAssurance Co. (NYSE:PRA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 172,832 shares of the insurance provider's stock, valued at approximately $2,383,000. Assenagon Asset Management S.A. owned 0.34% of ProAssurance at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC acquired a new position in shares of ProAssurance in the 1st quarter valued at about $31,000. Point72 Middle East FZE acquired a new stake in shares of ProAssurance during the fourth quarter worth $25,000. Intrepid Capital Management Inc. acquired a new position in ProAssurance during the second quarter valued at $32,000. Tower Research Capital LLC TRC increased its position in ProAssurance by 85.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 4,541 shares of the insurance provider's stock worth $84,000 after purchasing an additional 2,088 shares during the last quarter. Finally, FMR LLC boosted its stake in ProAssurance by 19.8% during the 3rd quarter. FMR LLC now owns 4,923 shares of the insurance provider's stock valued at $93,000 after purchasing an additional 812 shares during the period. Hedge funds and other institutional investors own 85.58% of the company's stock.

Wall Street Analyst Weigh In

PRA has been the topic of several recent research reports. TheStreet lowered ProAssurance from a "c-" rating to a "d+" rating in a research report on Wednesday, December 6th. Truist Financial reduced their target price on ProAssurance from $15.00 to $14.00 and set a "hold" rating on the stock in a report on Thursday, February 29th. JMP Securities reduced their target price on ProAssurance from $24.00 to $22.00 and set a "market outperform" rating on the stock in a report on Thursday, February 29th. Finally, Piper Sandler reduced their target price on ProAssurance from $16.00 to $15.00 and set an "overweight" rating on the stock in a report on Monday, March 4th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, ProAssurance has an average rating of "Moderate Buy" and an average price target of $17.00.

ProAssurance Trading Down 1.8 %

Shares of PRA stock traded down $0.23 during trading hours on Thursday, reaching $12.33. The company's stock had a trading volume of 258,126 shares, compared to its average volume of 275,742. 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 Co. has a one year low of $11.76 and a one year high of $19.38. The stock has a market capitalization of $628.45 million, a P/E ratio of -16.66 and a beta of 0.24. The firm's fifty day simple moving average is $12.80 and its 200 day simple moving average is $14.35.

ProAssurance (NYSE:PRA - Get Free Report) last released its quarterly earnings data 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 business had revenue of $296.96 million during the quarter, compared to the consensus estimate of $252.74 million. ProAssurance had a negative return on equity of 0.53% and a negative net margin of 3.39%. The business's revenue was up .8% on a year-over-year basis. During the same period last year, the company earned $0.06 EPS. Equities research analysts expect that ProAssurance Co. will post 0.26 EPS for the current year.

ProAssurance 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.