Principal Financial Group Inc. Lowers Stock Position in ProAssurance Co. (NYSE:PRA)

Principal Financial Group Inc. lessened its holdings in ProAssurance Co. (NYSE:PRA) by 4.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 251,924 shares of the insurance provider’s stock after selling 12,689 shares during the period. Principal Financial Group Inc.’s holdings in ProAssurance were worth $3,079,000 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. Innealta Capital LLC purchased a new stake in ProAssurance during the second quarter valued at approximately $69,000. ProShare Advisors LLC purchased a new stake in ProAssurance during the first quarter valued at approximately $132,000. Victory Capital Management Inc. purchased a new stake in ProAssurance during the fourth quarter valued at approximately $141,000. Quest Partners LLC purchased a new stake in ProAssurance during the fourth quarter valued at approximately $149,000. Finally, Aull & Monroe Investment Management Corp purchased a new stake in ProAssurance during the first quarter valued at approximately $178,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Analyst Ratings Changes

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

ProAssurance Stock Down 2.0 %

NYSE:PRA opened at $12.63 on Thursday. The firm has a market capitalization of $644.28 million, a P/E ratio of -23.39 and a beta of 0.23. ProAssurance Co. has a 1-year low of $10.76 and a 1-year high of $19.25. The company’s fifty day moving average price is $12.51 and its 200-day moving average price is $12.97. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.26 and a quick ratio of 0.26.

ProAssurance (NYSE:PRA) last released its quarterly earnings data on Thursday, August 8th. The insurance provider reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.15. The firm had revenue of $290.30 million for the quarter, compared to analyst estimates of $235.61 million. ProAssurance had a negative net margin of 2.00% and a positive return on equity of 0.86%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 earnings per share. As a group, equities research analysts anticipate that ProAssurance Co. will post 0.58 EPS for the current year.

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.