Numerai GP LLC Reduces Stock Position in ProAssurance Co. (NYSE:PRA)

Numerai GP LLC lessened its holdings in ProAssurance Co. (NYSE:PRA) by 12.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,483 shares of the insurance provider’s stock after selling 1,482 shares during the quarter. Numerai GP LLC’s holdings in ProAssurance were worth $167,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its stake in ProAssurance by 2,655.2% in the fourth quarter. Janus Henderson Group PLC now owns 645,358 shares of the insurance provider’s stock valued at $10,268,000 after acquiring an additional 621,935 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in ProAssurance by 92.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider’s stock valued at $10,992,000 after acquiring an additional 331,224 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in ProAssurance in the fourth quarter valued at $2,466,000. Dimensional Fund Advisors LP boosted its stake in ProAssurance by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,703,953 shares of the insurance provider’s stock valued at $43,019,000 after acquiring an additional 123,232 shares in the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new position in ProAssurance in the fourth quarter valued at $1,654,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PRA. Piper Sandler upped their price objective on shares of ProAssurance from $18.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Citigroup downgraded shares of ProAssurance to a “market perform” rating in a research note on Thursday, April 3rd. Citizens Jmp downgraded shares of ProAssurance from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 3rd. StockNews.com began coverage on shares of ProAssurance in a research note on Sunday, May 11th. They issued a “hold” rating for the company. Finally, Raymond James downgraded shares of ProAssurance from a “market perform” rating to an “underperform” rating in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.00.

ProAssurance Price Performance

Shares of PRA opened at $23.24 on Friday. ProAssurance Co. has a fifty-two week low of $10.76 and a fifty-two week high of $23.70. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 27.99 and a beta of 0.04. The firm has a 50-day simple moving average of $22.23 and a 200-day simple moving average of $17.93. 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 (NYSE:PRA) last announced its earnings results on Tuesday, May 6th. The insurance provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. The business had revenue of $236.28 million for the quarter, compared to analyst estimates of $272.85 million. During the same quarter last year, the company posted $0.08 EPS. ProAssurance’s quarterly revenue was down 4.5% on a year-over-year basis. On average, equities research analysts anticipate that ProAssurance Co. will post 0.8 earnings per share 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.