ProAssurance Co. (NYSE:PRA) Shares Purchased by Everence Capital Management Inc.

Everence Capital Management Inc. lifted its holdings in ProAssurance Co. (NYSE:PRA) by 21.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,110 shares of the insurance provider’s stock after purchasing an additional 3,000 shares during the quarter. Everence Capital Management Inc.’s holdings in ProAssurance were worth $236,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PRA. Point72 Middle East FZE acquired a new stake in shares of ProAssurance in the 4th quarter worth $25,000. Lazard Asset Management LLC acquired a new stake in shares of ProAssurance in the 1st quarter worth $31,000. Tower Research Capital LLC TRC boosted its position in shares of ProAssurance by 85.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 4,541 shares of the insurance provider’s stock worth $84,000 after purchasing an additional 2,088 shares in the last quarter. FMR LLC boosted its position in shares of ProAssurance by 19.8% in the 3rd quarter. FMR LLC now owns 4,923 shares of the insurance provider’s stock worth $93,000 after purchasing an additional 812 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of ProAssurance by 40.9% in the 2nd quarter. Royal Bank of Canada now owns 9,024 shares of the insurance provider’s stock worth $136,000 after purchasing an additional 2,620 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 brokerages have commented on PRA. Piper Sandler lowered their price target on ProAssurance from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Monday, March 4th. JMP Securities reaffirmed a “market outperform” rating and set a $22.00 price target on shares of ProAssurance in a research report on Monday. Finally, Truist Financial lowered their price target on ProAssurance from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

ProAssurance Trading Up 1.6 %

NYSE PRA opened at $13.08 on Friday. The stock has a 50-day simple moving average of $12.77 and a two-hundred day simple moving average of $13.96. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.38. ProAssurance Co. has a fifty-two week low of $11.76 and a fifty-two week high of $19.38.

ProAssurance (NYSE:PRA) last issued its quarterly earnings data on Tuesday, February 27th. The insurance provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.09). The company had revenue of $296.96 million during the quarter, compared to analyst estimates of $252.74 million. ProAssurance had a negative net margin of 3.39% and a negative return on equity of 0.53%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the firm earned $0.06 EPS. As a group, equities research analysts forecast that ProAssurance Co. will post 0.26 earnings per share for the current year.

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.