TimesSquare Capital Management LLC Sells 217,890 Shares of ProAssurance Co. (NYSE:PRA)

TimesSquare Capital Management LLC lowered its holdings in ProAssurance Co. (NYSE:PRA - Free Report) by 13.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,350,970 shares of the insurance provider's stock after selling 217,890 shares during the quarter. TimesSquare Capital Management LLC owned approximately 2.65% of ProAssurance worth $18,630,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PRA. Victory Capital Management Inc. bought a new position in shares of ProAssurance during the 4th quarter worth approximately $141,000. Savant Capital LLC purchased a new stake in ProAssurance during the 4th quarter worth approximately $146,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in ProAssurance by 17.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,455 shares of the insurance provider's stock worth $235,000 after purchasing an additional 1,842 shares during the last quarter. Private Advisor Group LLC purchased a new stake in ProAssurance during the 3rd quarter worth approximately $281,000. Finally, Everence Capital Management Inc. grew its position in ProAssurance by 21.3% during the 4th quarter. Everence Capital Management Inc. now owns 17,110 shares of the insurance provider's stock worth $236,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors own 85.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Truist Financial upped their price objective on shares of ProAssurance from $14.00 to $16.00 and gave the company a "hold" rating in a report on Wednesday. Piper Sandler lowered their price target 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. Finally, JMP Securities reissued a "market outperform" rating and set a $22.00 price target on shares of ProAssurance in a report on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $17.67.

ProAssurance Stock Up 0.5 %

PRA traded up $0.07 on Friday, hitting $14.77. 228,808 shares of the company were exchanged, compared to its average volume of 276,079. ProAssurance Co. has a twelve month low of $11.76 and a twelve month high of $19.38. The company has a market cap of $752.81 million, a price-to-earnings ratio of -19.96 and a beta of 0.21. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average price of $13.02 and a two-hundred day moving average price of $13.50.

ProAssurance (NYSE:PRA - Get Free Report) last announced its quarterly earnings results on Monday, May 6th. The insurance provider reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.04. The company had revenue of $284.97 million during the quarter, compared to the consensus estimate of $233.62 million. ProAssurance had a negative return on equity of 0.53% and a negative net margin of 3.39%. ProAssurance's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.15) EPS. On average, equities analysts predict that ProAssurance Co. will post 0.26 earnings per share for the current year.

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.