Jacobs Levy Equity Management Inc. Sells 56,617 Shares of ProAssurance Co. (NYSE:PRA)

Jacobs Levy Equity Management Inc. lowered its stake in shares of ProAssurance Co. (NYSE:PRA) by 9.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 531,284 shares of the insurance provider’s stock after selling 56,617 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in ProAssurance were worth $8,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC increased its position in ProAssurance by 2,655.2% in the fourth quarter. Janus Henderson Group PLC now owns 645,358 shares of the insurance provider’s stock worth $10,268,000 after purchasing an additional 621,935 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of ProAssurance by 92.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 690,871 shares of the insurance provider’s stock worth $10,992,000 after buying an additional 331,224 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of ProAssurance during the 4th quarter valued at about $2,466,000. Dimensional Fund Advisors LP lifted its holdings in shares of ProAssurance by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,703,953 shares of the insurance provider’s stock valued at $43,019,000 after acquiring an additional 123,232 shares during the last quarter. Finally, Brandywine Global Investment Management LLC purchased a new position in ProAssurance in the fourth quarter worth about $1,654,000. Institutional investors own 85.58% of the company’s stock.

Analyst Upgrades and Downgrades

PRA has been the subject of several analyst reports. Citizens Jmp lowered ProAssurance from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 3rd. StockNews.com started coverage on shares of ProAssurance in a research note on Sunday. They set a “hold” rating for the company. Raymond James lowered shares of ProAssurance from a “market perform” rating to an “underperform” rating in a research note on Thursday, April 10th. Piper Sandler lifted their price objective on shares of ProAssurance from $18.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Finally, Citigroup lowered shares of ProAssurance to a “market perform” rating in a research note on Thursday, April 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, ProAssurance presently has a consensus rating of “Hold” and a consensus price target of $21.00.

ProAssurance Stock Up 0.1%

NYSE PRA opened at $23.00 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.35. The company has a fifty day moving average of $21.76 and a two-hundred day moving average of $17.78. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 27.71 and a beta of 0.04. ProAssurance Co. has a 52 week low of $10.76 and a 52 week high of $23.70.

ProAssurance (NYSE:PRA) last issued its earnings results on Tuesday, May 6th. The insurance provider reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The company had revenue of $236.28 million for the quarter, compared to analysts’ expectations of $272.85 million. ProAssurance had a net margin of 3.71% and a return on equity of 2.65%. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 earnings per share. On average, analysts predict that ProAssurance Co. will post 0.8 earnings per share for the current year.

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.