Invesco Ltd. Trims Stock Position in ProAssurance Co. (NYSE:PRA)

Invesco Ltd. decreased its holdings in ProAssurance Co. (NYSE:PRA) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 674,920 shares of the insurance provider’s stock after selling 32,253 shares during the quarter. Invesco Ltd. owned approximately 1.32% of ProAssurance worth $10,738,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. KBC Group NV grew its position in ProAssurance by 75.4% during the fourth quarter. KBC Group NV now owns 4,184 shares of the insurance provider’s stock valued at $67,000 after acquiring an additional 1,798 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of ProAssurance in the 4th quarter valued at about $150,000. Cornercap Investment Counsel Inc. purchased a new stake in shares of ProAssurance during the 4th quarter worth about $204,000. Envestnet Asset Management Inc. acquired a new stake in ProAssurance during the 4th quarter worth approximately $228,000. Finally, Versor Investments LP acquired a new stake in ProAssurance during the 4th quarter worth approximately $354,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PRA shares. StockNews.com initiated coverage on shares of ProAssurance in a research note on Thursday, April 17th. They set a “hold” rating for the company. Raymond James cut shares of ProAssurance from a “market perform” rating to an “underperform” rating in a research report on Thursday, April 10th. Citigroup downgraded ProAssurance to a “market perform” rating in a report on Thursday, April 3rd. Finally, Citizens Jmp cut ProAssurance from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.67.

ProAssurance Price Performance

PRA opened at $23.02 on Wednesday. ProAssurance Co. has a twelve month low of $10.76 and a twelve month high of $23.70. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.35. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 27.73 and a beta of -0.09. The company has a fifty day simple moving average of $19.37 and a 200 day simple moving average of $16.95.

ProAssurance (NYSE:PRA) last announced its earnings results on Monday, February 24th. The insurance provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.19. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The company had revenue of $287.52 million during the quarter, compared to the consensus estimate of $274.56 million. Equities research analysts expect that ProAssurance Co. will post 0.8 EPS for the current fiscal year.

ProAssurance Company 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.