D. E. Shaw & Co. Inc. Has $1.47 Million Holdings in ProAssurance Co. (NYSE:PRA)

D. E. Shaw & Co. Inc. lowered its position in ProAssurance Co. (NYSE:PRA) by 48.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 92,440 shares of the insurance provider’s stock after selling 87,098 shares during the period. D. E. Shaw & Co. Inc. owned 0.18% of ProAssurance worth $1,471,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Balyasny Asset Management L.P. acquired a new position in ProAssurance in the fourth quarter valued at $512,000. Bayesian Capital Management LP bought a new position in shares of ProAssurance in the 4th quarter worth about $177,000. Northern Trust Corp lifted its stake in shares of ProAssurance by 3.1% in the 4th quarter. Northern Trust Corp now owns 559,694 shares of the insurance provider’s stock valued at $8,905,000 after purchasing an additional 16,983 shares during the period. Tudor Investment Corp ET AL bought a new stake in shares of ProAssurance during the 4th quarter valued at about $2,466,000. Finally, Aquatic Capital Management LLC boosted its position in shares of ProAssurance by 148.6% during the 4th quarter. Aquatic Capital Management LLC now owns 6,214 shares of the insurance provider’s stock valued at $99,000 after purchasing an additional 3,714 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PRA. Wall Street Zen assumed coverage on ProAssurance in a report on Monday. They set a “hold” rating on the stock. Raymond James lowered shares of ProAssurance from a “market perform” rating to an “underperform” rating in a research note on Thursday, April 10th. Piper Sandler lifted their price target 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. Citizens Jmp lowered shares of ProAssurance from an “outperform” rating to a “market perform” rating in a report on Thursday, April 3rd. Finally, Citigroup downgraded ProAssurance to a “market perform” rating in a research note on Thursday, April 3rd. One investment 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. According to MarketBeat, ProAssurance presently has a consensus rating of “Hold” and an average price target of $21.00.

ProAssurance Stock Performance

Shares of ProAssurance stock opened at $23.16 on Friday. ProAssurance Co. has a 52 week low of $10.76 and a 52 week high of $23.70. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average price of $22.85 and a 200-day moving average price of $18.16. The company has a market cap of $1.19 billion, a PE ratio of 27.90 and a beta of 0.04.

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