ProAssurance Co. (NYSE:PRA) Holdings Cut by Nuveen Asset Management LLC

Nuveen Asset Management LLC lowered its position in shares of ProAssurance Co. (NYSE:PRA) by 31.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 152,392 shares of the insurance provider’s stock after selling 70,814 shares during the period. Nuveen Asset Management LLC owned 0.30% of ProAssurance worth $2,425,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in PRA. Janus Henderson Group PLC raised its position in shares of ProAssurance by 2,655.2% during the 4th quarter. Janus Henderson Group PLC now owns 645,358 shares of the insurance provider’s stock worth $10,268,000 after buying an additional 621,935 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in ProAssurance by 92.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider’s stock worth $10,992,000 after purchasing an additional 331,224 shares during the period. Tudor Investment Corp ET AL purchased a new position in ProAssurance during the 4th quarter worth approximately $2,466,000. Dimensional Fund Advisors LP raised 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 purchasing an additional 123,232 shares during the period. Finally, Brandywine Global Investment Management LLC acquired a new stake in shares of ProAssurance in the fourth quarter worth $1,654,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

ProAssurance Trading Up 0.0%

NYSE:PRA opened at $23.20 on Tuesday. The company’s 50 day moving average is $23.15 and its 200-day moving average is $18.50. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.35. ProAssurance Co. has a 12 month low of $10.76 and a 12 month high of $23.70. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 27.95 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The firm had revenue of $236.28 million for the quarter, compared to the consensus estimate of $272.85 million. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. The firm’s revenue was down 4.5% on a year-over-year basis. During the same quarter last year, the company earned $0.08 earnings per share. Equities analysts anticipate that ProAssurance Co. will post 0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PRA shares. Wall Street Zen started coverage on shares of ProAssurance in a research note on Monday, May 19th. They issued a “hold” rating on the stock. Raymond James downgraded ProAssurance from a “market perform” rating to an “underperform” rating in a research note on Thursday, April 10th. Piper Sandler lifted their target price 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 downgraded shares of ProAssurance from an “outperform” rating to a “market perform” rating in a report on Thursday, April 3rd. Finally, Citigroup cut shares of ProAssurance to a “market perform” rating in a report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $21.00.

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.