ProAssurance Co. (NYSE:PRA) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in ProAssurance Co. (NYSE:PRA) by 0.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,292,717 shares of the insurance provider’s stock after selling 11,617 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in ProAssurance were worth $15,797,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PRA. ProShare Advisors LLC purchased a new position in shares of ProAssurance in the 1st quarter valued at about $132,000. Victory Capital Management Inc. acquired a new stake in ProAssurance during the fourth quarter worth approximately $141,000. Savant Capital LLC acquired a new position in ProAssurance in the fourth quarter valued at $146,000. Quest Partners LLC purchased a new position in shares of ProAssurance during the fourth quarter worth about $149,000. Finally, Aull & Monroe Investment Management Corp acquired a new stake in shares of ProAssurance during the first quarter worth about $178,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PRA has been the subject of a number of research analyst reports. Truist Financial decreased their target price on ProAssurance from $16.00 to $14.00 and set a “hold” rating for the company in a research report on Monday, August 12th. JMP Securities decreased their price target on shares of ProAssurance from $22.00 to $20.00 and set a “market outperform” rating for the company in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $16.33.

ProAssurance Stock Up 1.7 %

PRA opened at $13.52 on Thursday. ProAssurance Co. has a 52 week low of $10.76 and a 52 week high of $19.25. The business has a 50 day moving average price of $12.34 and a two-hundred day moving average price of $12.98. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.38. The company has a market cap of $689.68 million, a PE ratio of -25.04 and a beta of 0.23.

ProAssurance (NYSE:PRA) last released its earnings results on Thursday, August 8th. The insurance provider reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.15. ProAssurance had a positive return on equity of 0.59% and a negative net margin of 2.42%. The business had revenue of $290.30 million for the quarter, compared to analyst estimates of $235.61 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, research analysts anticipate that ProAssurance Co. will post 0.38 EPS for the current 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.