Principal Financial Group Inc. Has $3.95 Million Position in ProAssurance Co. (NYSE:PRA)

Principal Financial Group Inc. increased its position in shares of ProAssurance Co. (NYSE:PRA) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 248,069 shares of the insurance provider’s stock after purchasing an additional 6,919 shares during the period. Principal Financial Group Inc. owned approximately 0.48% of ProAssurance worth $3,947,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PRA. Rhumbline Advisers increased its stake in ProAssurance by 0.8% during the 4th quarter. Rhumbline Advisers now owns 160,707 shares of the insurance provider’s stock worth $2,557,000 after acquiring an additional 1,281 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in ProAssurance by 0.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 587,901 shares of the insurance provider’s stock worth $8,842,000 after acquiring an additional 1,738 shares during the period. KBC Group NV increased its stake in ProAssurance by 75.4% during the 4th quarter. KBC Group NV now owns 4,184 shares of the insurance provider’s stock worth $67,000 after acquiring an additional 1,798 shares during the period. Private Advisor Group LLC increased its stake in ProAssurance by 12.8% during the 3rd quarter. Private Advisor Group LLC now owns 16,806 shares of the insurance provider’s stock worth $253,000 after acquiring an additional 1,905 shares during the period. Finally, New York State Teachers Retirement System increased its stake in ProAssurance by 2.2% during the 4th quarter. New York State Teachers Retirement System now owns 89,326 shares of the insurance provider’s stock worth $1,421,000 after acquiring an additional 1,937 shares during the period. 85.58% of the stock is owned by institutional investors and hedge funds.

ProAssurance Trading Down 2.7 %

Shares of PRA opened at $15.61 on Wednesday. ProAssurance Co. has a 52-week low of $10.76 and a 52-week high of $17.79. The business’s fifty day moving average is $15.11 and its 200-day moving average is $15.13. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market cap of $798.36 million, a price-to-earnings ratio of 18.80 and a beta of 0.27.

ProAssurance (NYSE:PRA) last issued its quarterly earnings results on Monday, February 24th. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.19. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The company had revenue of $287.52 million for the quarter, compared to analyst estimates of $274.56 million. Equities analysts anticipate that ProAssurance Co. will post 0.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. StockNews.com lowered ProAssurance from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Truist Financial raised their price objective on ProAssurance from $14.00 to $18.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Finally, Piper Sandler lowered ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a research note on Monday, November 11th.

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.