Versor Investments LP Acquires New Stake in ProAssurance Co. (NYSE:PRA)

Versor Investments LP bought a new stake in ProAssurance Co. (NYSE:PRA) in the 4th quarter, Holdings Channel reports. The institutional investor bought 22,269 shares of the insurance provider’s stock, valued at approximately $354,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PRA. KBC Group NV raised its position in shares of ProAssurance by 75.4% in the fourth quarter. KBC Group NV now owns 4,184 shares of the insurance provider’s stock valued at $67,000 after buying an additional 1,798 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in ProAssurance by 94.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,347 shares of the insurance provider’s stock valued at $126,000 after acquiring an additional 4,052 shares during the last quarter. FMR LLC lifted its stake in shares of ProAssurance by 197.8% during the 3rd quarter. FMR LLC now owns 12,063 shares of the insurance provider’s stock worth $181,000 after purchasing an additional 8,012 shares during the period. Private Advisor Group LLC boosted its holdings in shares of ProAssurance by 12.8% during the third quarter. Private Advisor Group LLC now owns 16,806 shares of the insurance provider’s stock worth $253,000 after purchasing an additional 1,905 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of ProAssurance by 30.0% in the third quarter. BNP Paribas Financial Markets now owns 17,978 shares of the insurance provider’s stock valued at $270,000 after purchasing an additional 4,149 shares during the period. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

ProAssurance Stock Performance

ProAssurance stock opened at $15.65 on Monday. The company has a market cap of $800.45 million, a price-to-earnings ratio of 18.85 and a beta of 0.27. ProAssurance Co. has a 12 month low of $10.76 and a 12 month high of $17.79. 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 stock’s 50-day moving average is $15.12 and its 200-day moving average is $15.10.

ProAssurance (NYSE:PRA) last posted its quarterly earnings results on Monday, February 24th. The insurance provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.17 by $0.19. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. The firm 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 earnings per share for the current year.

Analysts Set New Price Targets

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