Ameriprise Financial Inc. Decreases Stock Position in ProAssurance Co. (NYSE:PRA)

Ameriprise Financial Inc. cut its position in ProAssurance Co. (NYSE:PRA) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 868,074 shares of the insurance provider’s stock after selling 8,592 shares during the quarter. Ameriprise Financial Inc. owned 1.70% of ProAssurance worth $13,811,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PRA. Dimensional Fund Advisors LP boosted its stake in ProAssurance by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,703,953 shares of the insurance provider’s stock valued at $43,019,000 after acquiring an additional 123,232 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in ProAssurance by 0.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,316,249 shares of the insurance provider’s stock valued at $20,678,000 after acquiring an additional 4,814 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake 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 acquiring an additional 331,224 shares during the last quarter. Northern Trust Corp boosted its stake in ProAssurance by 3.1% during the 4th quarter. Northern Trust Corp now owns 559,694 shares of the insurance provider’s stock valued at $8,905,000 after acquiring an additional 16,983 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in ProAssurance by 17.2% during the 4th quarter. American Century Companies Inc. now owns 391,609 shares of the insurance provider’s stock valued at $6,230,000 after acquiring an additional 57,556 shares during the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

ProAssurance Stock Up 0.4%

Shares of NYSE:PRA opened at $23.24 on Friday. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 27.99 and a beta of 0.04. ProAssurance Co. has a 1-year low of $10.76 and a 1-year high of $23.70. The company’s fifty day moving average is $22.23 and its two-hundred day moving average is $17.95. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28.

ProAssurance (NYSE:PRA) last issued its earnings results on Tuesday, May 6th. The insurance provider reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The business had revenue of $236.28 million for the quarter, compared to analyst estimates of $272.85 million. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period last year, the company posted $0.08 earnings per share. Equities analysts anticipate that ProAssurance Co. will post 0.8 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on PRA shares. Citizens Jmp downgraded shares of ProAssurance from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 3rd. Citigroup downgraded shares of ProAssurance to a “market perform” rating in a research note on Thursday, April 3rd. StockNews.com started coverage on shares of ProAssurance in a research note on Sunday, May 11th. They set a “hold” rating on the stock. Piper Sandler increased their price objective on shares of ProAssurance from $18.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Finally, Raymond James cut shares of ProAssurance from a “market perform” rating to an “underperform” rating in a report on Thursday, April 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, ProAssurance presently has an average rating of “Hold” and an average target price of $21.00.

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.