Texas Permanent School Fund Corp Has $826,000 Stock Position in ProAssurance Co. (NYSE:PRA)

Texas Permanent School Fund Corp lifted its holdings in shares of ProAssurance Co. (NYSE:PRA) by 52.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 67,588 shares of the insurance provider’s stock after purchasing an additional 23,327 shares during the period. Texas Permanent School Fund Corp owned 0.13% of ProAssurance worth $826,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Arizona State Retirement System lifted its position in shares of ProAssurance by 8.1% in the 2nd quarter. Arizona State Retirement System now owns 15,136 shares of the insurance provider’s stock worth $185,000 after purchasing an additional 1,128 shares during the period. Commonwealth Equity Services LLC grew its holdings in shares of ProAssurance by 2.5% during the second quarter. Commonwealth Equity Services LLC now owns 32,346 shares of the insurance provider’s stock valued at $395,000 after buying an additional 800 shares during the last quarter. Innealta Capital LLC bought a new stake in ProAssurance during the 2nd quarter worth approximately $69,000. Bank of New York Mellon Corp grew its holdings in ProAssurance by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 417,150 shares of the insurance provider’s stock worth $5,098,000 after buying an additional 8,549 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of ProAssurance by 2.4% in the second quarter. Assenagon Asset Management S.A. now owns 253,649 shares of the insurance provider’s stock valued at $3,100,000 after purchasing an additional 6,062 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

ProAssurance Stock Performance

NYSE PRA opened at $13.68 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. The company has a market capitalization of $697.84 million, a PE ratio of -25.33 and a beta of 0.23. ProAssurance Co. has a 52-week low of $10.76 and a 52-week high of $19.25. The company has a 50-day simple moving average of $12.77 and a 200 day simple moving average of $12.99.

ProAssurance (NYSE:PRA) last posted its quarterly earnings results on Thursday, August 8th. The insurance provider reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.15. ProAssurance had a negative net margin of 2.00% and a positive return on equity of 0.86%. The company had revenue of $290.30 million for the quarter, compared to analysts’ expectations of $235.61 million. During the same quarter in the previous year, the firm posted $0.16 EPS. ProAssurance’s revenue was down .5% on a year-over-year basis. On average, research analysts predict that ProAssurance Co. will post 0.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JMP Securities reduced their price objective on shares of ProAssurance from $22.00 to $20.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 17th. Truist Financial decreased their price target on ProAssurance from $16.00 to $14.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.33.

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.