Dana Investment Advisors Inc. Increases Stake in ProAssurance Co. (NYSE:PRA)

Dana Investment Advisors Inc. increased its position in shares of ProAssurance Co. (NYSE:PRA) by 33.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 434,850 shares of the insurance provider’s stock after purchasing an additional 109,253 shares during the period. Dana Investment Advisors Inc. owned approximately 0.85% of ProAssurance worth $5,314,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PRA. Hsbc Holdings PLC boosted its position in shares of ProAssurance by 6.0% during the fourth quarter. Hsbc Holdings PLC now owns 97,624 shares of the insurance provider’s stock valued at $1,349,000 after buying an additional 5,494 shares during the period. Aristides Capital LLC purchased a new position in ProAssurance during the 4th quarter valued at $256,000. CenterBook Partners LP grew its position 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 during the last quarter. BNP Paribas Financial Markets increased its stake in ProAssurance by 14.5% in the first quarter. BNP Paribas Financial Markets now owns 38,649 shares of the insurance provider’s stock worth $497,000 after purchasing an additional 4,885 shares during the period. Finally, Aull & Monroe Investment Management Corp bought a new stake in shares of ProAssurance during the first quarter worth $178,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

ProAssurance Stock Performance

PRA stock opened at $15.15 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.26 and a quick ratio of 0.26. ProAssurance Co. has a 1-year low of $10.76 and a 1-year high of $18.98. The business has a 50-day moving average price of $13.12 and a 200 day moving average price of $13.10. The company has a market capitalization of $772.83 million, a P/E ratio of -28.06 and a beta of 0.23.

ProAssurance (NYSE:PRA) last issued its quarterly earnings data on Thursday, August 8th. The insurance provider reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.15. The company had revenue of $290.30 million for the quarter, compared to analyst estimates of $235.61 million. ProAssurance had a negative net margin of 2.00% and a positive return on equity of 0.86%. ProAssurance’s revenue was down .5% compared to the same quarter last year. During the same period last year, the company posted $0.16 earnings per share. As a group, equities research analysts forecast that ProAssurance Co. will post 0.58 EPS 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.