Oregon Public Employees Retirement Fund trimmed its position in shares of ProAssurance Co. (NYSE:PRA – Free Report) by 3.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,794 shares of the insurance provider’s stock after selling 600 shares during the period. Oregon Public Employees Retirement Fund’s holdings in ProAssurance were worth $253,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new stake in shares of ProAssurance during the second quarter worth approximately $401,000. Summit Global Investments purchased a new stake in shares of ProAssurance during the second quarter worth approximately $230,000. Louisiana State Employees Retirement System increased its stake in shares of ProAssurance by 12.7% during the second quarter. Louisiana State Employees Retirement System now owns 28,400 shares of the insurance provider’s stock worth $429,000 after buying an additional 3,200 shares during the period. Ameriprise Financial Inc. increased its stake in shares of ProAssurance by 12.4% during the first quarter. Ameriprise Financial Inc. now owns 1,067,463 shares of the insurance provider’s stock worth $19,727,000 after buying an additional 118,139 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of ProAssurance by 22.3% during the first quarter. JPMorgan Chase & Co. now owns 69,694 shares of the insurance provider’s stock worth $1,287,000 after buying an additional 12,692 shares during the period. 85.14% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts recently issued reports on PRA shares. StockNews.com started coverage on ProAssurance in a report on Thursday, October 5th. They issued a “hold” rating for the company. Piper Sandler lowered their price target on ProAssurance from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, October 6th. Finally, JMP Securities lowered their price target on ProAssurance from $30.00 to $25.00 in a report on Wednesday, July 12th.
ProAssurance Stock Performance
Shares of PRA opened at $17.74 on Tuesday. The company has a market capitalization of $923.54 million, a price-to-earnings ratio of 98.56 and a beta of 0.38. ProAssurance Co. has a 52-week low of $11.87 and a 52-week high of $22.82. The stock has a 50 day moving average price of $18.08 and a 200 day moving average price of $16.62. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.38.
ProAssurance (NYSE:PRA – Get Free Report) last posted its quarterly earnings data on Tuesday, August 8th. The insurance provider reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.08. The business had revenue of $291.83 million during the quarter, compared to the consensus estimate of $237.33 million. ProAssurance had a return on equity of 0.09% and a net margin of 0.82%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 earnings per share. Research analysts predict that ProAssurance Co. will post 0.34 EPS for the current fiscal 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, Segregated Portfolio Cell Reinsurance, and Lloyd's Syndicates segments.
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