Renaissance Technologies LLC Sells 24,200 Shares of ProAssurance Co. (NYSE:PRA)

Renaissance Technologies LLC cut its holdings in shares of ProAssurance Co. (NYSE:PRA) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 624,800 shares of the insurance provider’s stock after selling 24,200 shares during the period. Renaissance Technologies LLC’s holdings in ProAssurance were worth $9,941,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of ProAssurance by 1.8% during the 3rd quarter. State Street Corp now owns 1,968,754 shares of the insurance provider’s stock valued at $29,610,000 after purchasing an additional 34,247 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in ProAssurance by 0.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,316,249 shares of the insurance provider’s stock worth $20,678,000 after buying an additional 4,814 shares during the period. Arrowstreet Capital Limited Partnership lifted 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 buying an additional 331,224 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of ProAssurance by 17.2% in the fourth quarter. American Century Companies Inc. now owns 391,609 shares of the insurance provider’s stock valued at $6,230,000 after buying an additional 57,556 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of ProAssurance by 28.0% during the fourth quarter. JPMorgan Chase & Co. now owns 323,955 shares of the insurance provider’s stock worth $5,154,000 after acquiring an additional 70,780 shares in the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on PRA. Citizens Jmp cut shares of ProAssurance from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 3rd. Raymond James lowered ProAssurance from a “market perform” rating to an “underperform” rating in a report on Thursday, April 10th. StockNews.com began coverage on ProAssurance in a report on Thursday. They set a “hold” rating for the company. Finally, Citigroup cut ProAssurance to a “market perform” rating in a research note on Thursday, April 3rd. One equities research 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. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $18.67.

ProAssurance Trading Up 0.1 %

ProAssurance stock opened at $23.27 on Thursday. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 28.04 and a beta of -0.09. The firm has a 50-day moving average of $18.70 and a 200-day moving average of $16.72. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28. ProAssurance Co. has a one year low of $10.76 and a one year high of $23.70.

ProAssurance (NYSE:PRA) last issued 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. The firm had revenue of $287.52 million during the quarter, compared to analysts’ expectations of $274.56 million. ProAssurance had a return on equity of 2.65% and a net margin of 3.71%. On average, equities analysts expect that ProAssurance Co. will post 0.8 earnings per share for the current fiscal year.

About ProAssurance

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.