Vanguard Group Inc. decreased its stake in shares of ProAssurance Co. (NYSE:PRA - Free Report) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,727,580 shares of the insurance provider's stock after selling 17,161 shares during the quarter. Vanguard Group Inc. owned about 11.20% of ProAssurance worth $91,126,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PRA. KLP Kapitalforvaltning AS acquired a new stake in shares of ProAssurance in the 4th quarter worth $150,000. American Century Companies Inc. boosted its position in shares of ProAssurance by 17.2% during the fourth quarter. American Century Companies Inc. now owns 391,609 shares of the insurance provider's stock worth $6,230,000 after buying an additional 57,556 shares during the period. Teacher Retirement System of Texas acquired a new position in ProAssurance in the 4th quarter valued at about $603,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in ProAssurance by 49.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 102,152 shares of the insurance provider's stock worth $1,625,000 after purchasing an additional 33,717 shares during the period. Finally, Summit X LLC acquired a new stake in shares of ProAssurance during the fourth quarter worth about $382,000. Institutional investors and hedge funds own 85.58% of the company's stock.
Analyst Ratings Changes
PRA has been the subject of several recent research reports. StockNews.com began coverage on shares of ProAssurance in a research report on Wednesday, April 9th. They issued a "hold" rating for the company. Citigroup cut ProAssurance to a "market perform" rating in a research note on Thursday, April 3rd. Raymond James cut shares of ProAssurance from a "market perform" rating to an "underperform" rating in a report on Thursday, April 10th. Finally, Citizens Jmp cut shares of ProAssurance from an "outperform" rating to a "market perform" rating in a research report on Thursday, April 3rd. One equities research 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's stock. According to data from MarketBeat, ProAssurance currently has a consensus rating of "Hold" and a consensus target price of $18.67.
Read Our Latest Stock Report on PRA
ProAssurance Stock Down 0.3 %
Shares of NYSE:PRA traded down $0.07 during trading on Tuesday, hitting $23.25. 74,188 shares of the company were exchanged, compared to its average volume of 737,280. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28. The firm's 50 day moving average price is $18.37 and its 200-day moving average price is $16.62. The stock has a market capitalization of $1.19 billion, a P/E ratio of 28.01 and a beta of -0.09. ProAssurance Co. has a 12-month low of $10.76 and a 12-month high of $23.70.
ProAssurance (NYSE:PRA - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.19. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. The company had revenue of $287.52 million during the quarter, compared to the consensus estimate of $274.56 million. On average, research analysts predict that ProAssurance Co. will post 0.8 earnings per share 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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