Wakefield Asset Management LLLP Invests $1.04 Million in ProAssurance Co. (NYSE:PRA)

Wakefield Asset Management LLLP purchased a new stake in ProAssurance Co. (NYSE:PRA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 65,132 shares of the insurance provider’s stock, valued at approximately $1,036,000. Wakefield Asset Management LLLP owned approximately 0.13% of ProAssurance at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Versor Investments LP acquired a new stake in shares of ProAssurance in the 4th quarter valued at $354,000. Y Intercept Hong Kong Ltd bought a new stake in ProAssurance during the 4th quarter worth about $551,000. Principal Financial Group Inc. lifted its position in ProAssurance by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 248,069 shares of the insurance provider’s stock valued at $3,947,000 after purchasing an additional 6,919 shares during the period. Rhumbline Advisers lifted its position in ProAssurance by 0.8% during the 4th quarter. Rhumbline Advisers now owns 160,707 shares of the insurance provider’s stock valued at $2,557,000 after purchasing an additional 1,281 shares during the period. Finally, New York State Teachers Retirement System boosted its stake in shares of ProAssurance by 2.2% in the 4th quarter. New York State Teachers Retirement System now owns 89,326 shares of the insurance provider’s stock valued at $1,421,000 after purchasing an additional 1,937 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

ProAssurance Stock Down 1.3 %

ProAssurance stock opened at $15.44 on Friday. The firm has a market capitalization of $789.85 million, a price-to-earnings ratio of 18.60 and a beta of 0.27. The company’s 50 day simple moving average is $15.12 and its 200 day simple moving average is $15.05. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.28 and a quick ratio of 0.28. ProAssurance Co. has a fifty-two week low of $10.76 and a fifty-two week high of $17.79.

ProAssurance (NYSE:PRA) last announced its quarterly earnings results on Monday, February 24th. The insurance provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.19. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. The company had revenue of $287.52 million for the quarter, compared to analysts’ expectations of $274.56 million. As a group, sell-side analysts anticipate that ProAssurance Co. will post 0.8 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on PRA. Truist Financial boosted their price target on shares of ProAssurance from $14.00 to $18.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Piper Sandler downgraded ProAssurance from an “overweight” rating to a “neutral” rating and set a $18.00 price target on the stock. in a research note on Monday, November 11th. Finally, StockNews.com cut ProAssurance from a “buy” rating to a “hold” rating in a research note on Wednesday.

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.