ProAssurance Co. (NYSE:PRA) Shares Sold by Inspire Investing LLC

Inspire Investing LLC reduced its stake in shares of ProAssurance Co. (NYSE:PRA) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,455 shares of the insurance provider’s stock after selling 809 shares during the period. Inspire Investing LLC owned 0.05% of ProAssurance worth $413,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PRA. Point72 Hong Kong Ltd purchased a new position in ProAssurance during the second quarter worth $28,000. Innealta Capital LLC acquired a new stake in shares of ProAssurance during the second quarter valued at $69,000. ProShare Advisors LLC purchased a new stake in ProAssurance during the 1st quarter worth about $132,000. Susquehanna Fundamental Investments LLC acquired a new position in ProAssurance in the 2nd quarter valued at about $166,000. Finally, Aull & Monroe Investment Management Corp purchased a new position in ProAssurance in the 1st quarter valued at about $178,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

ProAssurance Trading Up 2.5 %

NYSE PRA opened at $15.54 on Thursday. The company has a market cap of $792.73 million, a P/E ratio of -28.78 and a beta of 0.24. ProAssurance Co. has a 12 month low of $10.76 and a 12 month high of $18.98. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.26 and a quick ratio of 0.26. The company has a 50-day moving average of $13.81 and a 200-day moving average of $13.30.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Truist Financial cut their price objective on shares of 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 cut their price target on ProAssurance from $22.00 to $20.00 and set a “market outperform” rating for the company in a report on Wednesday, July 17th.

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.