ProAssurance Co. (NYSE:PRA) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its position in shares of ProAssurance Co. (NYSE:PRA) by 96.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,522 shares of the insurance provider’s stock after selling 465,979 shares during the quarter. Assenagon Asset Management S.A.’s holdings in ProAssurance were worth $311,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new position in shares of ProAssurance during the second quarter valued at $28,000. nVerses Capital LLC acquired a new position in ProAssurance during the 3rd quarter valued at about $44,000. Point72 Asia Singapore Pte. Ltd. raised its position in shares of ProAssurance by 94.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider’s stock worth $126,000 after buying an additional 4,052 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of ProAssurance in the 2nd quarter worth approximately $166,000. Finally, FMR LLC boosted its holdings in shares of ProAssurance by 197.8% in the third quarter. FMR LLC now owns 12,063 shares of the insurance provider’s stock valued at $181,000 after acquiring an additional 8,012 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. StockNews.com upgraded shares of ProAssurance from a “hold” rating to a “buy” rating in a research report on Thursday, December 26th. Truist Financial upped their price target on ProAssurance from $14.00 to $18.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Finally, Piper Sandler cut ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 target price on the stock. in a research note on Monday, November 11th.

ProAssurance Price Performance

Shares of PRA opened at $14.74 on Friday. The firm has a market capitalization of $754.20 million, a PE ratio of 17.76 and a beta of 0.29. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28. The company’s 50-day moving average is $15.95 and its 200-day moving average is $14.57. ProAssurance Co. has a fifty-two week low of $10.76 and a fifty-two week high of $17.79.

ProAssurance (NYSE:PRA) last released its quarterly earnings results on Thursday, November 7th. The insurance provider reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.22. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. The company had revenue of $285.25 million during the quarter, compared to the consensus estimate of $270.75 million. During the same period in the previous year, the business earned ($0.07) earnings per share. Equities analysts forecast that ProAssurance Co. will post 0.8 EPS for the current year.

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.