Wakefield Asset Management LLLP Makes New $1.04 Million Investment in ProAssurance Co. (NYSE:PRA)

Wakefield Asset Management LLLP purchased a new stake in ProAssurance Co. (NYSE:PRA) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 65,132 shares of the insurance provider’s stock, valued at approximately $1,036,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rhumbline Advisers lifted its position in ProAssurance by 0.8% in the 4th quarter. Rhumbline Advisers now owns 160,707 shares of the insurance provider’s stock valued at $2,557,000 after acquiring an additional 1,281 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of ProAssurance by 0.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 587,901 shares of the insurance provider’s stock valued at $8,842,000 after purchasing an additional 1,738 shares in the last quarter. KBC Group NV boosted its position in shares of ProAssurance by 75.4% during the fourth quarter. KBC Group NV now owns 4,184 shares of the insurance provider’s stock worth $67,000 after buying an additional 1,798 shares during the period. Private Advisor Group LLC raised its position in ProAssurance by 12.8% in the 3rd quarter. Private Advisor Group LLC now owns 16,806 shares of the insurance provider’s stock valued at $253,000 after buying an additional 1,905 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its stake in ProAssurance by 2.2% in the 4th quarter. New York State Teachers Retirement System now owns 89,326 shares of the insurance provider’s stock valued at $1,421,000 after acquiring an additional 1,937 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

ProAssurance Stock Down 1.3 %

NYSE:PRA opened at $15.44 on Friday. ProAssurance Co. has a twelve month low of $10.76 and a twelve month high of $17.79. The firm has a market capitalization of $789.85 million, a price-to-earnings ratio of 18.60 and a beta of 0.27. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.35. The stock’s 50 day moving average price is $15.12 and its two-hundred day moving average price is $15.05.

ProAssurance (NYSE:PRA) last issued its earnings results on Monday, February 24th. The insurance provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.19. The business had revenue of $287.52 million for the quarter, compared to the consensus estimate of $274.56 million. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. Equities research analysts expect that ProAssurance Co. will post 0.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.