ProAssurance Co. (NYSE:PRA) Shares Sold by Caxton Associates LP

Caxton Associates LP reduced its position in shares of ProAssurance Co. (NYSE:PRA) by 29.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,905 shares of the insurance provider’s stock after selling 26,929 shares during the period. Caxton Associates LP owned about 0.13% of ProAssurance worth $781,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PRA. Point72 Hong Kong Ltd purchased a new stake in shares of ProAssurance during the 2nd quarter worth approximately $28,000. Innealta Capital LLC purchased a new stake in ProAssurance in the second quarter valued at $69,000. ProShare Advisors LLC acquired a new position in ProAssurance in the first quarter valued at $132,000. Aull & Monroe Investment Management Corp purchased a new position in shares of ProAssurance during the first quarter worth about $178,000. Finally, Arizona State Retirement System increased its position in shares of ProAssurance by 8.1% during the second quarter. Arizona State Retirement System now owns 15,136 shares of the insurance provider’s stock worth $185,000 after purchasing an additional 1,128 shares in the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

ProAssurance Stock Performance

NYSE PRA opened at $14.94 on Friday. The firm has a market cap of $762.12 million, a P/E ratio of -27.67 and a beta of 0.23. ProAssurance Co. has a 52-week low of $10.76 and a 52-week high of $19.05. The business’s 50-day moving average price is $12.91 and its 200 day moving average price is $13.03. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.38.

ProAssurance (NYSE:PRA) last announced its earnings results on Thursday, August 8th. The insurance provider reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.15. ProAssurance had a positive return on equity of 0.86% and a negative net margin of 2.00%. The company had revenue of $290.30 million for the quarter, compared to the consensus estimate of $235.61 million. During the same period last year, the business posted $0.16 EPS. The company’s revenue was down .5% on a year-over-year basis. On average, equities research analysts expect that ProAssurance Co. will post 0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

PRA has been the topic of a number of research reports. JMP Securities dropped their price target on ProAssurance from $22.00 to $20.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 17th. Truist Financial lowered their target price on shares of ProAssurance from $16.00 to $14.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.33.

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, 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.