Thrivent Financial for Lutherans Lowers Stake in ProAssurance Co. (NYSE:PRA)

Thrivent Financial for Lutherans trimmed its position in ProAssurance Co. (NYSE:PRA) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,347 shares of the insurance provider’s stock after selling 1,870 shares during the quarter. Thrivent Financial for Lutherans owned 0.08% of ProAssurance worth $517,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PRA. Commonwealth Equity Services LLC lifted its position 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. Arizona State Retirement System raised its position in shares of ProAssurance by 8.1% during 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 last quarter. Price T Rowe Associates Inc. MD lifted its stake in ProAssurance by 3.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,323 shares of the insurance provider’s stock valued at $570,000 after buying an additional 1,619 shares in the last quarter. Sei Investments Co. boosted its holdings in ProAssurance by 5.7% in the 2nd quarter. Sei Investments Co. now owns 40,929 shares of the insurance provider’s stock worth $500,000 after buying an additional 2,202 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in ProAssurance by 14.5% during the 1st quarter. BNP Paribas Financial Markets now owns 38,649 shares of the insurance provider’s stock worth $497,000 after buying an additional 4,885 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

ProAssurance Trading Down 0.2 %

NYSE:PRA opened at $14.37 on Wednesday. The stock’s 50 day moving average price is $13.48 and its 200 day moving average price is $13.21. The company has a market capitalization of $733.04 million, a PE ratio of -26.61 and a beta of 0.24. ProAssurance Co. has a 52-week low of $10.76 and a 52-week high of $18.98. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.38.

ProAssurance (NYSE:PRA) last released its earnings results on Thursday, August 8th. The insurance provider reported $0.23 EPS for the quarter, topping the consensus estimate of $0.08 by $0.15. The company had revenue of $290.30 million during the quarter, compared to analysts’ expectations 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 was down .5% on a year-over-year basis. During the same quarter last year, the business earned $0.16 EPS. On average, research analysts anticipate that ProAssurance Co. will post 0.58 EPS for the current year.

Wall Street Analyst Weigh In

PRA has been the subject of a number of research reports. Truist Financial dropped their target price on shares of ProAssurance from $16.00 to $14.00 and set a “hold” rating for the company in a report on Monday, August 12th. JMP Securities decreased their target price on ProAssurance from $22.00 to $20.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 17th.

ProAssurance Company 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.