ProAssurance Co. (NYSE:PRA) Holdings Lifted by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC increased its holdings in shares of ProAssurance Co. (NYSE:PRA) by 567.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,434 shares of the insurance provider’s stock after buying an additional 128,747 shares during the quarter. Cubist Systematic Strategies LLC owned 0.30% of ProAssurance worth $1,851,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PRA. CenterBook Partners LP grew its holdings in shares of ProAssurance by 455.7% during the fourth quarter. CenterBook Partners LP now owns 80,021 shares of the insurance provider’s stock valued at $1,103,000 after buying an additional 65,621 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of ProAssurance during the second quarter valued at $360,000. Texas Permanent School Fund Corp grew its holdings in shares of ProAssurance by 52.7% during the second quarter. Texas Permanent School Fund Corp now owns 67,588 shares of the insurance provider’s stock valued at $826,000 after buying an additional 23,327 shares in the last quarter. Aristides Capital LLC purchased a new position in shares of ProAssurance during the fourth quarter valued at $256,000. Finally, Aull & Monroe Investment Management Corp acquired a new stake in ProAssurance during the first quarter valued at $178,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. 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 research report on Wednesday, July 17th. Truist Financial reduced their price objective on ProAssurance from $16.00 to $14.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, ProAssurance presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.33.

ProAssurance Price Performance

PRA opened at $15.04 on Tuesday. The stock has a market cap of $767.22 million, a price-to-earnings ratio of -27.80 and a beta of 0.23. ProAssurance Co. has a 1 year low of $10.76 and a 1 year high of $18.98. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.38. The stock has a fifty day moving average price of $13.05 and a 200 day moving average price of $13.08.

ProAssurance (NYSE:PRA) last announced its quarterly earnings results 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. ProAssurance had a positive return on equity of 0.86% and a negative net margin of 2.00%. The company had revenue of $290.30 million during the quarter, compared to analysts’ expectations of $235.61 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. Analysts forecast that ProAssurance Co. will post 0.58 EPS for the current fiscal 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.