ProAssurance Co. (NYSE:PRA) Stock Holdings Trimmed by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its holdings in shares of ProAssurance Co. (NYSE:PRA) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,389 shares of the insurance provider’s stock after selling 3,502 shares during the period. New York State Teachers Retirement System owned approximately 0.17% of ProAssurance worth $1,314,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC raised its stake in shares of ProAssurance by 2.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 32,346 shares of the insurance provider’s stock worth $395,000 after buying an additional 800 shares in the last quarter. Arizona State Retirement System raised its stake 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 buying an additional 1,128 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of ProAssurance by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,106 shares of the insurance provider’s stock worth $258,000 after buying an additional 1,521 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of 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 worth $570,000 after buying an additional 1,619 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in shares of ProAssurance by 12.8% in the 3rd quarter. Private Advisor Group LLC now owns 16,806 shares of the insurance provider’s stock worth $253,000 after buying an additional 1,905 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

ProAssurance Stock Up 4.2 %

Shares of ProAssurance stock opened at $16.99 on Friday. The stock’s fifty day moving average is $14.52 and its 200-day moving average is $13.58. The firm has a market capitalization of $869.21 million, a PE ratio of -38.61 and a beta of 0.24. 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 Co. has a 12-month low of $10.76 and a 12-month high of $17.79.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PRA. JMP Securities dropped their price objective 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. Truist Financial cut their target price on ProAssurance from $16.00 to $14.00 and set a “hold” rating on the stock in a research report on Monday, August 12th.

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.