CenterBook Partners LP Acquires 65,621 Shares of ProAssurance Co. (NYSE:PRA)

CenterBook Partners LP raised its holdings in shares of ProAssurance Co. (NYSE:PRAFree Report) by 455.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 80,021 shares of the insurance provider’s stock after acquiring an additional 65,621 shares during the period. CenterBook Partners LP owned approximately 0.16% of ProAssurance worth $1,103,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PRA. Swiss National Bank raised its stake in ProAssurance by 2.0% during the 3rd quarter. Swiss National Bank now owns 118,700 shares of the insurance provider’s stock worth $2,242,000 after buying an additional 2,300 shares during the period. Charles Schwab Investment Management Inc. raised its stake in ProAssurance by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 893,508 shares of the insurance provider’s stock worth $16,878,000 after buying an additional 2,971 shares during the period. Deutsche Bank AG raised its stake in ProAssurance by 22.1% during the 3rd quarter. Deutsche Bank AG now owns 30,275 shares of the insurance provider’s stock worth $572,000 after buying an additional 5,485 shares during the period. Brandywine Global Investment Management LLC acquired a new stake in ProAssurance during the 3rd quarter worth $2,988,000. Finally, Quadrature Capital Ltd raised its stake in ProAssurance by 4.2% during the 3rd quarter. Quadrature Capital Ltd now owns 22,982 shares of the insurance provider’s stock worth $435,000 after buying an additional 924 shares during the period. Institutional investors own 85.58% of the company’s stock.

ProAssurance Stock Down 0.9 %

Shares of NYSE PRA traded down $0.12 during mid-day trading on Friday, hitting $13.63. The company had a trading volume of 159,918 shares, compared to its average volume of 215,657. The company has a market capitalization of $695.27 million, a PE ratio of -25.25 and a beta of 0.24. The firm has a 50-day simple moving average of $13.85 and a two-hundred day simple moving average of $13.31. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.38. ProAssurance Co. has a one year low of $11.76 and a one year high of $19.38.

ProAssurance (NYSE:PRAGet Free Report) last announced its quarterly earnings data on Monday, May 6th. The insurance provider reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.04. The company had revenue of $284.97 million during the quarter, compared to analysts’ expectations of $233.62 million. ProAssurance had a positive return on equity of 0.59% and a negative net margin of 2.42%. ProAssurance’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.15) EPS. On average, equities analysts expect that ProAssurance Co. will post 0.38 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on PRA shares. Truist Financial raised their price objective on ProAssurance from $14.00 to $16.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. JMP Securities reissued a “market outperform” rating and issued a $22.00 price target on shares of ProAssurance in a research note on Monday, April 15th. Finally, Piper Sandler dropped their price target on ProAssurance from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Monday, March 4th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.67.

Check Out Our Latest Stock Analysis on PRA

ProAssurance Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for ProAssurance (NYSE:PRA)

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