ProAssurance Corporation $PRA Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lessened its holdings in ProAssurance Corporation (NYSE:PRA) by 3.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 96,330 shares of the insurance provider’s stock after selling 3,700 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.19% of ProAssurance worth $2,199,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Magnetar Financial LLC lifted its position in ProAssurance by 27.6% in the second quarter. Magnetar Financial LLC now owns 2,956,808 shares of the insurance provider’s stock valued at $67,504,000 after buying an additional 638,992 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of ProAssurance by 2,035.6% during the first quarter. Alliancebernstein L.P. now owns 1,516,479 shares of the insurance provider’s stock worth $35,410,000 after buying an additional 1,445,469 shares during the period. TIG Advisors LLC acquired a new stake in shares of ProAssurance in the first quarter valued at $15,039,000. Alpine Associates Management Inc. grew its stake in shares of ProAssurance by 148.0% in the second quarter. Alpine Associates Management Inc. now owns 548,740 shares of the insurance provider’s stock valued at $12,528,000 after buying an additional 327,440 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of ProAssurance by 47.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 511,759 shares of the insurance provider’s stock valued at $11,950,000 after buying an additional 165,024 shares during the period. 85.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on PRA. Wall Street Zen upgraded ProAssurance to a “sell” rating in a report on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of ProAssurance in a research report on Wednesday, October 8th. Finally, Zacks Research cut shares of ProAssurance from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $25.00.

ProAssurance Stock Performance

NYSE:PRA opened at $23.99 on Tuesday. ProAssurance Corporation has a 12 month low of $13.90 and a 12 month high of $24.22. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a market capitalization of $1.23 billion, a PE ratio of 25.52 and a beta of 0.11. The business’s fifty day moving average price is $24.00 and its 200 day moving average price is $23.67.

ProAssurance (NYSE:PRA) last released its quarterly earnings data on Friday, May 20th. The insurance provider reported $0.04 earnings per share (EPS) for the quarter. ProAssurance had a return on equity of 5.62% and a net margin of 4.33%.The business had revenue of $220.02 million during the quarter. On average, sell-side analysts anticipate that ProAssurance Corporation will post 0.8 earnings per share for the current fiscal year.

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.