American Century Companies Inc. Increases Holdings in ProAssurance Co. (NYSE:PRA)

American Century Companies Inc. raised its stake in ProAssurance Co. (NYSE:PRA) by 4.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 305,698 shares of the insurance provider’s stock after acquiring an additional 13,650 shares during the period. American Century Companies Inc. owned approximately 0.60% of ProAssurance worth $3,736,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PRA. Innealta Capital LLC purchased a new stake in ProAssurance during the 2nd quarter valued at about $69,000. ProShare Advisors LLC purchased a new stake in shares of ProAssurance during the first quarter valued at approximately $132,000. Aull & Monroe Investment Management Corp bought a new stake in shares of ProAssurance during the first quarter valued at approximately $178,000. Arizona State Retirement System raised its holdings in ProAssurance by 8.1% in the 2nd quarter. Arizona State Retirement System now owns 15,136 shares of the insurance provider’s stock worth $185,000 after acquiring an additional 1,128 shares during the last quarter. Finally, Aristides Capital LLC purchased a new position in ProAssurance in the 4th quarter worth approximately $256,000. 85.58% of the stock is currently owned by institutional investors.

ProAssurance Trading Up 3.1 %

NYSE:PRA opened at $14.94 on Friday. The company has a 50 day simple moving average of $12.91 and a two-hundred day simple moving average of $13.03. The company has a market cap of $762.12 million, a PE ratio of -27.67 and a beta of 0.23. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.38. ProAssurance Co. has a 12 month low of $10.76 and a 12 month high of $19.05.

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

Analyst Ratings Changes

A number of analysts have commented on the company. Truist Financial reduced their target price on ProAssurance from $16.00 to $14.00 and set a “hold” rating for the company in a report on Monday, August 12th. JMP Securities reduced their price objective on ProAssurance from $22.00 to $20.00 and set a “market outperform” rating for the company in a report on Wednesday, July 17th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.33.

ProAssurance 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.