ProAssurance Co. (NYSE:PRA) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lowered its holdings in shares of ProAssurance Co. (NYSE:PRA) by 0.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 541,789 shares of the insurance provider’s stock after selling 4,371 shares during the period. Jacobs Levy Equity Management Inc. owned 1.06% of ProAssurance worth $6,967,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its holdings in shares of ProAssurance by 23.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,449 shares of the insurance provider’s stock valued at $61,000 after purchasing an additional 842 shares in the last quarter. Victory Capital Management Inc. purchased a new position in ProAssurance during the 4th quarter valued at about $141,000. ProShare Advisors LLC purchased a new position in ProAssurance during the 1st quarter valued at about $132,000. Savant Capital LLC purchased a new position in ProAssurance during the 4th quarter valued at about $146,000. Finally, Quest Partners LLC purchased a new position in ProAssurance during the 4th quarter valued at about $149,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

ProAssurance Trading Up 12.6 %

Shares of PRA traded up $1.47 during mid-day trading on Tuesday, hitting $13.16. The company had a trading volume of 816,095 shares, compared to its average volume of 287,030. The business’s 50-day simple moving average is $12.68 and its 200-day simple moving average is $13.00. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.38. ProAssurance Co. has a 1-year low of $10.76 and a 1-year high of $19.38. The stock has a market cap of $671.29 million, a PE ratio of -23.09 and a beta of 0.23.

ProAssurance (NYSE:PRA) last released its earnings results on Monday, May 6th. The insurance provider reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.04. ProAssurance had a negative net margin of 2.42% and a positive return on equity of 0.59%. The business had revenue of $284.97 million for the quarter, compared to analysts’ expectations of $233.62 million. During the same period last year, the company earned ($0.15) earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. Sell-side analysts forecast that ProAssurance Co. will post 0.38 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on PRA. JMP Securities dropped their target price on shares of ProAssurance from $22.00 to $20.00 and set a “market outperform” rating for the company in a report on Wednesday, July 17th. Truist Financial lifted their price target on shares of ProAssurance from $14.00 to $16.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $17.00.

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.