Deutsche Bank AG Cuts Position in ProAssurance Corporation $PRA

Deutsche Bank AG trimmed its holdings in shares of ProAssurance Corporation (NYSE:PRA) by 9.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 43,251 shares of the insurance provider’s stock after selling 4,428 shares during the period. Deutsche Bank AG owned approximately 0.08% of ProAssurance worth $1,010,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Wells Fargo & Company MN increased its position in ProAssurance by 19.6% during the 4th quarter. Wells Fargo & Company MN now owns 40,164 shares of the insurance provider’s stock valued at $639,000 after buying an additional 6,583 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of ProAssurance in the fourth quarter worth $228,000. Barclays PLC increased its holdings in shares of ProAssurance by 6.8% during the fourth quarter. Barclays PLC now owns 90,894 shares of the insurance provider’s stock valued at $1,447,000 after acquiring an additional 5,777 shares in the last quarter. Mariner LLC increased its holdings in shares of ProAssurance by 4.2% during the fourth quarter. Mariner LLC now owns 17,007 shares of the insurance provider’s stock valued at $271,000 after acquiring an additional 688 shares in the last quarter. Finally, Marshall Wace LLP raised its position in shares of ProAssurance by 21.0% in the 4th quarter. Marshall Wace LLP now owns 29,091 shares of the insurance provider’s stock worth $463,000 after purchasing an additional 5,040 shares during the last quarter. 85.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PRA has been the topic of several recent analyst reports. 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 report on Thursday, May 8th. Wall Street Zen began coverage on shares of ProAssurance in a report on Monday, May 19th. They set a “hold” rating on the stock. Finally, Zacks Research raised shares of ProAssurance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 20th. Five analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $21.50.

ProAssurance Stock Performance

Shares of PRA stock opened at $24.0020 on Monday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.33. The company has a 50 day moving average price of $23.58 and a 200-day moving average price of $21.67. ProAssurance Corporation has a 52 week low of $12.43 and a 52 week high of $24.14. The firm has a market capitalization of $1.23 billion, a PE ratio of 25.53 and a beta of 0.13.

ProAssurance (NYSE:PRA) last issued its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.33. ProAssurance had a net margin of 4.33% and a return on equity of 5.62%. The company had revenue of $271.94 million for the quarter, compared to the consensus estimate of $266.72 million. During the same quarter in the prior year, the firm earned $0.23 earnings per share. The firm’s revenue for the quarter was down 19.9% compared to the same quarter last year. As a group, equities research analysts expect that ProAssurance Corporation will post 0.8 earnings per share 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.