Principal Financial Group Inc. Decreases Stock Holdings in ProAssurance Co. (NYSE:PRA)

Principal Financial Group Inc. lessened its holdings in ProAssurance Co. (NYSE:PRAFree Report) by 5.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 265,786 shares of the insurance provider’s stock after selling 15,112 shares during the period. Principal Financial Group Inc. owned 0.52% of ProAssurance worth $3,665,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PRA. Victory Capital Management Inc. acquired a new position in ProAssurance during the fourth quarter worth approximately $141,000. Savant Capital LLC acquired a new stake in shares of ProAssurance in the fourth quarter worth $146,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ProAssurance by 30.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,255 shares of the insurance provider’s stock worth $224,000 after acquiring an additional 3,800 shares in the last quarter. Everence Capital Management Inc. increased its position in shares of ProAssurance by 21.3% in the fourth quarter. Everence Capital Management Inc. now owns 17,110 shares of the insurance provider’s stock worth $236,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new stake in shares of ProAssurance in the third quarter worth $281,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

ProAssurance Price Performance

Shares of PRA stock opened at $14.37 on Friday. The company has a market capitalization of $733.01 million, a PE ratio of -26.61 and a beta of 0.21. The firm has a fifty day simple moving average of $13.72 and a 200-day simple moving average of $13.28. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.38. ProAssurance Co. has a twelve month low of $11.76 and a twelve month high of $19.38.

ProAssurance (NYSE:PRAGet Free Report) last posted its quarterly earnings data on Monday, May 6th. The insurance provider reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. ProAssurance had a negative net margin of 2.42% and a positive return on equity of 0.59%. The firm had revenue of $284.97 million for the quarter, compared to the consensus estimate of $233.62 million. During the same period in the prior year, the firm posted ($0.15) EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that ProAssurance Co. will post 0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PRA shares. Truist Financial increased their price objective on shares of ProAssurance from $14.00 to $16.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Piper Sandler decreased their target price on shares of ProAssurance from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Monday, March 4th. Finally, JMP Securities restated a “market outperform” rating and issued a $22.00 target price on shares of ProAssurance in a research note on Monday, April 15th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.67.

Get Our Latest Report on PRA

About ProAssurance

(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.

Read More

Want to see what other hedge funds are holding PRA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ProAssurance Co. (NYSE:PRAFree Report).

Institutional Ownership by Quarter for ProAssurance (NYSE:PRA)

Receive News & Ratings for ProAssurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProAssurance and related companies with MarketBeat.com's FREE daily email newsletter.