Arizona State Retirement System Has $201,000 Position in ProAssurance Co. (NYSE:PRA)

Arizona State Retirement System reduced its position in shares of ProAssurance Co. (NYSE:PRA) by 5.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 14,555 shares of the insurance provider’s stock after selling 828 shares during the quarter. Arizona State Retirement System’s holdings in ProAssurance were worth $201,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in ProAssurance by 0.5% during the 1st quarter. BlackRock Inc. now owns 7,890,417 shares of the insurance provider’s stock worth $145,815,000 after purchasing an additional 38,705 shares during the last quarter. Vanguard Group Inc. increased its stake in ProAssurance by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 6,140,790 shares of the insurance provider’s stock worth $119,806,000 after acquiring an additional 74,033 shares during the period. Price T Rowe Associates Inc. MD increased its stake in ProAssurance by 2.0% during 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 acquiring an additional 60,057 shares during the period. Dimensional Fund Advisors LP increased its stake in ProAssurance by 12.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,395,403 shares of the insurance provider’s stock worth $44,266,000 after acquiring an additional 266,578 shares during the period. Finally, State Street Corp increased its stake in ProAssurance by 0.3% during the 3rd quarter. State Street Corp now owns 1,945,679 shares of the insurance provider’s stock worth $38,058,000 after acquiring an additional 6,345 shares during the period. 85.58% of the stock is owned by institutional investors and hedge funds.

ProAssurance Trading Up 2.4 %

Shares of PRA opened at $13.39 on Monday. ProAssurance Co. has a 52-week low of $11.76 and a 52-week high of $19.38. The business’s fifty day moving average is $12.77 and its 200-day moving average is $13.87. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a market cap of $682.49 million, a price-to-earnings ratio of -18.09 and a beta of 0.24.

ProAssurance (NYSE:PRA) last issued its quarterly earnings results on Tuesday, February 27th. The insurance provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.09). ProAssurance had a negative net margin of 3.39% and a negative return on equity of 0.53%. The business had revenue of $296.96 million during the quarter, compared to the consensus estimate of $252.74 million. During the same quarter in the previous year, the business posted $0.06 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. Equities analysts anticipate that ProAssurance Co. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PRA has been the topic of a number of recent research reports. Piper Sandler lowered their price objective on ProAssurance from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Monday, March 4th. JMP Securities restated a “market outperform” rating and set a $22.00 price objective on shares of ProAssurance in a research note on Monday, April 15th. Finally, Truist Financial lowered their price objective on ProAssurance from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, February 29th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, ProAssurance presently has an average rating of “Moderate Buy” and an average target price of $17.00.

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.