ExodusPoint Capital Management LP Has $610,000 Stake in ProAssurance Co. (NYSE:PRA)

ExodusPoint Capital Management LP decreased its position in ProAssurance Co. (NYSE:PRA) by 56.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 32,992 shares of the insurance provider’s stock after selling 43,343 shares during the period. ExodusPoint Capital Management LP owned about 0.06% of ProAssurance worth $610,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in ProAssurance by 1.2% in 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its position in ProAssurance by 2.0% in 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in ProAssurance by 7.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,128,825 shares of the insurance provider’s stock worth $37,190,000 after buying an additional 150,158 shares in the last quarter. State Street Corp lifted its position in ProAssurance by 0.3% in 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 in the last quarter. Finally, TimesSquare Capital Management LLC lifted its position in ProAssurance by 84.2% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,739,490 shares of the insurance provider’s stock worth $30,389,000 after buying an additional 794,940 shares in the last quarter. Institutional investors and hedge funds own 85.14% of the company’s stock.

ProAssurance Stock Down 0.6 %

ProAssurance stock opened at $17.51 on Thursday. The company has a market capitalization of $911.66 million, a P/E ratio of 97.28 and a beta of 0.42. The firm’s fifty day simple moving average is $16.80 and its 200-day simple moving average is $16.72. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.38. ProAssurance Co. has a 1-year low of $11.87 and a 1-year high of $22.82.

ProAssurance (NYSE:PRA) last posted its earnings results on Tuesday, August 8th. The insurance provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. ProAssurance had a net margin of 0.82% and a return on equity of 0.09%. The business had revenue of $291.83 million for the quarter, compared to analyst estimates of $237.33 million. During the same period last year, the business posted $0.30 EPS. ProAssurance’s revenue was up 14.1% compared to the same quarter last year. Sell-side analysts forecast that ProAssurance Co. will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Truist Financial cut their target price on shares of ProAssurance from $22.00 to $16.00 in a research report on Wednesday, May 17th. JMP Securities cut their price target on shares of ProAssurance from $30.00 to $25.00 in a report on Wednesday, July 12th. Piper Sandler raised their price target on shares of ProAssurance from $15.00 to $16.00 in a report on Thursday, July 6th. Finally, StockNews.com began coverage on shares of ProAssurance in a report on Thursday, August 17th. They set a “hold” rating on the stock.

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, Segregated Portfolio Cell Reinsurance, and Lloyd's Syndicates segments.