American Century Companies Inc. Increases Holdings in ProAssurance Co. (NYSE:PRA)

American Century Companies Inc. increased its stake in ProAssurance Co. (NYSE:PRA) by 17.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 391,609 shares of the insurance provider’s stock after buying an additional 57,556 shares during the quarter. American Century Companies Inc. owned 0.77% of ProAssurance worth $6,230,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Rhumbline Advisers raised its position in ProAssurance by 0.8% in the fourth 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. lifted its stake in ProAssurance by 0.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 587,901 shares of the insurance provider’s stock valued at $8,842,000 after purchasing an additional 1,738 shares during the last quarter. KBC Group NV grew its holdings in ProAssurance by 75.4% during the fourth quarter. KBC Group NV now owns 4,184 shares of the insurance provider’s stock valued at $67,000 after purchasing an additional 1,798 shares during the period. New York State Teachers Retirement System increased its position in ProAssurance by 2.2% in the fourth quarter. New York State Teachers Retirement System now owns 89,326 shares of the insurance provider’s stock worth $1,421,000 after buying an additional 1,937 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in shares of ProAssurance by 94.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider’s stock valued at $126,000 after buying an additional 4,052 shares during the period. Institutional investors own 85.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PRA shares. Citizens Jmp lowered ProAssurance from an “outperform” rating to a “market perform” rating in a report on Thursday. StockNews.com started coverage on shares of ProAssurance in a research report on Tuesday. They issued a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, ProAssurance currently has an average rating of “Hold” and a consensus price target of $18.67.

ProAssurance Stock Performance

NYSE:PRA opened at $23.26 on Friday. The business’s fifty day moving average is $17.07 and its 200 day moving average is $16.10. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 28.02 and a beta of 0.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.28 and a current ratio of 0.28. ProAssurance Co. has a 52-week low of $10.76 and a 52-week high of $23.43.

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

ProAssurance 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.