Dimensional Fund Advisors LP Lowers Stock Position in ProAssurance Co. (NYSE:PRA)

Dimensional Fund Advisors LP cut its holdings in ProAssurance Co. (NYSE:PRA) by 4.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,645,354 shares of the insurance provider’s stock after selling 119,788 shares during the quarter. Dimensional Fund Advisors LP owned approximately 5.19% of ProAssurance worth $32,327,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CenterBook Partners LP grew its position in ProAssurance by 455.7% during the 4th quarter. CenterBook Partners LP now owns 80,021 shares of the insurance provider’s stock valued at $1,103,000 after purchasing an additional 65,621 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of ProAssurance by 52.7% during the second quarter. Texas Permanent School Fund Corp now owns 67,588 shares of the insurance provider’s stock valued at $826,000 after buying an additional 23,327 shares during the last quarter. Aristides Capital LLC bought a new stake in shares of ProAssurance during the fourth quarter valued at approximately $256,000. Aull & Monroe Investment Management Corp purchased a new position in ProAssurance in the 1st quarter worth approximately $178,000. Finally, American Century Companies Inc. lifted its position in ProAssurance by 4.7% in the 2nd quarter. American Century Companies Inc. now owns 305,698 shares of the insurance provider’s stock valued at $3,736,000 after acquiring an additional 13,650 shares in the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PRA shares. JMP Securities decreased their price target on ProAssurance from $22.00 to $20.00 and set a “market outperform” rating for the company in a research note on Wednesday, July 17th. Truist Financial reduced their price target on shares of ProAssurance from $16.00 to $14.00 and set a “hold” rating for the company in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.33.

ProAssurance Stock Up 0.7 %

ProAssurance stock opened at $15.15 on Wednesday. ProAssurance Co. has a one year low of $10.76 and a one year high of $18.98. The stock has a fifty day moving average of $13.12 and a 200 day moving average of $13.10. 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 stock has a market cap of $772.83 million, a PE ratio of -27.93 and a beta of 0.23.

ProAssurance (NYSE:PRA) last released its quarterly earnings results on Thursday, August 8th. The insurance provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.08 by $0.15. The firm had revenue of $290.30 million during 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%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 EPS. As a group, sell-side analysts predict that ProAssurance Co. will post 0.58 EPS for the current 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.