Wells Fargo & Company MN Acquires 6,583 Shares of ProAssurance Co. (NYSE:PRA)

Wells Fargo & Company MN lifted its holdings in ProAssurance Co. (NYSE:PRA) by 19.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,164 shares of the insurance provider’s stock after acquiring an additional 6,583 shares during the period. Wells Fargo & Company MN owned 0.08% of ProAssurance worth $639,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Trexquant Investment LP raised its position in ProAssurance by 27.5% during the fourth quarter. Trexquant Investment LP now owns 169,749 shares of the insurance provider’s stock valued at $2,701,000 after purchasing an additional 36,645 shares during the period. Brandywine Global Investment Management LLC bought a new position in shares of ProAssurance during the 4th quarter valued at approximately $1,654,000. Arrowstreet Capital Limited Partnership raised its holdings in ProAssurance by 92.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider’s stock valued at $10,992,000 after buying an additional 331,224 shares during the period. Cornercap Investment Counsel Inc. bought a new stake in ProAssurance in the fourth quarter worth $204,000. Finally, JPMorgan Chase & Co. boosted its stake in ProAssurance by 28.0% during the fourth quarter. JPMorgan Chase & Co. now owns 323,955 shares of the insurance provider’s stock worth $5,154,000 after buying an additional 70,780 shares during the period. Institutional investors own 85.58% of the company’s stock.

Wall Street Analyst Weigh In

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

ProAssurance Trading Down 0.1 %

PRA stock opened at $23.01 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market capitalization of $1.18 billion, a PE ratio of 27.72 and a beta of -0.09. The firm’s 50-day moving average is $20.74 and its 200 day moving average is $17.40. ProAssurance Co. has a 12 month low of $10.76 and a 12 month high of $23.70.

ProAssurance (NYSE:PRA) last released its quarterly earnings data on Monday, February 24th. The insurance provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.19. The company had revenue of $287.52 million during the quarter, compared to analyst estimates of $274.56 million. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. On average, research analysts anticipate that ProAssurance Co. will post 0.8 EPS for the current 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.