Tower Research Capital LLC TRC Buys 842 Shares of ProAssurance Co. (NYSE:PRA)

Tower Research Capital LLC TRC grew its stake in ProAssurance Co. (NYSE:PRA) by 23.3% in the fourth quarter, HoldingsChannel reports. The fund owned 4,449 shares of the insurance provider’s stock after acquiring an additional 842 shares during the period. Tower Research Capital LLC TRC’s holdings in ProAssurance were worth $61,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Assenagon Asset Management S.A. bought a new position in ProAssurance in the fourth quarter valued at about $2,383,000. Dimensional Fund Advisors LP lifted its holdings in ProAssurance by 6.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,838,938 shares of the insurance provider’s stock valued at $39,150,000 after buying an additional 168,634 shares during the period. Brandywine Global Investment Management LLC bought a new position in ProAssurance in the third quarter valued at approximately $2,988,000. Jacobs Levy Equity Management Inc. raised its position in shares of ProAssurance by 25.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 548,525 shares of the insurance provider’s stock valued at $10,362,000 after acquiring an additional 110,562 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of ProAssurance by 38.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 195,508 shares of the insurance provider’s stock valued at $2,696,000 after purchasing an additional 54,356 shares during the period. 85.58% of the stock is currently owned by institutional investors and hedge funds.

ProAssurance Trading Up 1.7 %

NYSE:PRA traded up $0.22 on Monday, reaching $13.39. The company’s stock had a trading volume of 204,080 shares, compared to its average volume of 277,939. ProAssurance Co. has a 1-year low of $11.76 and a 1-year high of $19.38. The business’s 50-day moving average price is $12.80 and its two-hundred day moving average price is $13.69. The firm has a market cap of $682.49 million, a PE ratio of -18.09 and a beta of 0.24. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.27 and a current ratio of 0.27.

ProAssurance (NYSE:PRA) last issued its quarterly earnings data on Tuesday, February 27th. The insurance provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.09). The business had revenue of $296.96 million during the quarter, compared to analyst estimates of $252.74 million. ProAssurance had a negative net margin of 3.39% and a negative return on equity of 0.53%. ProAssurance’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 earnings per share. Equities research analysts anticipate that ProAssurance Co. will post 0.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on PRA. JMP Securities reiterated a “market outperform” rating and issued a $22.00 price objective on shares of ProAssurance in a report on Monday, April 15th. Piper Sandler cut their price target on shares of ProAssurance from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, March 4th. Finally, Truist Financial decreased their price objective on shares of ProAssurance from $15.00 to $14.00 and set a “hold” rating for the company in a report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

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.