Texas Permanent School Fund Corp decreased its stake in ProAssurance Co. (NYSE:PRA – Free Report) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,551 shares of the insurance provider’s stock after selling 844 shares during the period. Texas Permanent School Fund Corp owned 0.09% of ProAssurance worth $718,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Lazard Asset Management LLC acquired a new position in shares of ProAssurance in the 1st quarter valued at $31,000. Point72 Middle East FZE acquired a new position in shares of ProAssurance in the 4th quarter valued at $25,000. Tower Research Capital LLC TRC boosted its holdings in shares of ProAssurance by 85.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 4,541 shares of the insurance provider’s stock valued at $84,000 after buying an additional 2,088 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of ProAssurance in the 1st quarter valued at $251,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of ProAssurance in the 1st quarter valued at $190,000. Institutional investors and hedge funds own 85.14% of the company’s stock.
Analyst Ratings Changes
Several analysts recently commented on the stock. StockNews.com assumed coverage on shares of ProAssurance in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Truist Financial reduced their price target on shares of ProAssurance from $20.00 to $15.00 and set a “hold” rating for the company in a research report on Friday, November 10th. Finally, Piper Sandler reduced their price target on shares of ProAssurance from $19.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday.
ProAssurance Stock Down 3.6 %
PRA stock opened at $12.77 on Tuesday. The company has a market cap of $650.63 million, a price-to-earnings ratio of -21.27 and a beta of 0.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.28 and a quick ratio of 0.28. ProAssurance Co. has a 12 month low of $11.87 and a 12 month high of $20.27. The company has a fifty day moving average price of $17.33 and a 200 day moving average price of $16.27.
ProAssurance (NYSE:PRA – Get Free Report) last announced its quarterly earnings data on Wednesday, November 8th. The insurance provider reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.22). The firm had revenue of $275.75 million for the quarter, compared to analysts’ expectations of $241.12 million. ProAssurance had a positive return on equity of 0.02% and a negative net margin of 2.73%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) EPS. Sell-side analysts expect that ProAssurance Co. will post 0.13 earnings per share for the current year.
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.
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