UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 15,542 Shares of ProAssurance Co. (NYSE:PRA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of ProAssurance Co. (NYSE:PRA) by 10.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 157,977 shares of the insurance provider’s stock after acquiring an additional 15,542 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.31% of ProAssurance worth $2,513,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. ProShare Advisors LLC grew its position in shares of ProAssurance by 44.4% in the 4th quarter. ProShare Advisors LLC now owns 15,354 shares of the insurance provider’s stock valued at $244,000 after buying an additional 4,723 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of ProAssurance by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,991 shares of the insurance provider’s stock worth $461,000 after purchasing an additional 1,127 shares during the last quarter. Lighthouse Investment Partners LLC raised its stake in shares of ProAssurance by 243.5% in the fourth quarter. Lighthouse Investment Partners LLC now owns 111,766 shares of the insurance provider’s stock worth $1,778,000 after purchasing an additional 79,226 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of ProAssurance by 2,655.2% in the fourth quarter. Janus Henderson Group PLC now owns 645,358 shares of the insurance provider’s stock worth $10,268,000 after purchasing an additional 621,935 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of ProAssurance by 50.1% in the fourth quarter. Deutsche Bank AG now owns 47,679 shares of the insurance provider’s stock valued at $759,000 after acquiring an additional 15,921 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

ProAssurance Trading Down 0.1%

Shares of PRA stock opened at $23.14 on Friday. ProAssurance Co. has a 52-week low of $10.76 and a 52-week high of $23.70. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market capitalization of $1.19 billion, a PE ratio of 27.87 and a beta of 0.14. The stock has a fifty day simple moving average of $23.14 and a two-hundred day simple moving average of $18.61.

ProAssurance (NYSE:PRA) last released its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $0.13 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $272.85 million. During the same period last year, the company earned $0.08 EPS. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. On average, analysts predict that ProAssurance Co. will post 0.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PRA. Piper Sandler raised their target price on ProAssurance from $18.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Raymond James downgraded ProAssurance from a “market perform” rating to an “underperform” rating in a research report on Thursday, April 10th. Wall Street Zen started coverage on ProAssurance in a research report on Monday, May 19th. They set a “hold” rating on the stock. Citizens Jmp downgraded ProAssurance from an “outperform” rating to a “market perform” rating in a report on Thursday, April 3rd. Finally, Citigroup cut ProAssurance to a “market perform” rating in a research note on Thursday, April 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $21.00.

ProAssurance 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.