Quadrature Capital Ltd Has $198,000 Position in ProAssurance Co. (NYSE:PRA)

Quadrature Capital Ltd cut its holdings in ProAssurance Co. (NYSE:PRA) by 37.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 14,383 shares of the insurance provider’s stock after selling 8,599 shares during the quarter. Quadrature Capital Ltd’s holdings in ProAssurance were worth $198,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. CenterBook Partners LP lifted its stake in ProAssurance by 455.7% in the 4th quarter. CenterBook Partners LP now owns 80,021 shares of the insurance provider’s stock valued at $1,103,000 after acquiring an additional 65,621 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in ProAssurance in the 4th quarter valued at approximately $2,383,000. New York State Common Retirement Fund lifted its stake in ProAssurance by 5.6% in the 4th quarter. New York State Common Retirement Fund now owns 23,600 shares of the insurance provider’s stock valued at $325,000 after acquiring an additional 1,261 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in ProAssurance by 6.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,838,938 shares of the insurance provider’s stock valued at $39,150,000 after acquiring an additional 168,634 shares in the last quarter. Finally, Smith Graham & Co. Investment Advisors LP lifted its stake in ProAssurance by 6.6% in the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 356,919 shares of the insurance provider’s stock valued at $4,922,000 after acquiring an additional 22,121 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

ProAssurance Stock Performance

PRA opened at $12.47 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.26 and a current ratio of 0.26. ProAssurance Co. has a 52-week low of $11.76 and a 52-week high of $19.38. The firm has a market cap of $636.09 million, a P/E ratio of -23.09 and a beta of 0.24. The business’s fifty day moving average is $13.77 and its 200-day moving average is $13.30.

ProAssurance (NYSE:PRA) last announced its quarterly earnings data on Monday, May 6th. The insurance provider reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.04. The business had revenue of $284.97 million during the quarter, compared to the consensus estimate of $233.62 million. ProAssurance had a positive return on equity of 0.59% and a negative net margin of 2.42%. ProAssurance’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.15) EPS. Sell-side analysts expect that ProAssurance Co. will post 0.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PRA has been the topic of a number of analyst reports. Piper Sandler dropped their price objective on ProAssurance from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Monday, March 4th. Truist Financial upped their price objective on ProAssurance from $14.00 to $16.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Finally, JMP Securities reiterated a “market outperform” rating and set a $22.00 price objective on shares of ProAssurance in a research note on Monday, April 15th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.67.

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.