American Century Companies Inc. Buys 8,458 Shares of ProAssurance Co. (NYSE:PRA)

American Century Companies Inc. lifted its stake in ProAssurance Co. (NYSE:PRAFree Report) by 3.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 263,873 shares of the insurance provider’s stock after acquiring an additional 8,458 shares during the period. American Century Companies Inc. owned 0.52% of ProAssurance worth $4,985,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of ProAssurance by 0.5% in the 1st quarter. BlackRock Inc. now owns 7,890,417 shares of the insurance provider’s stock worth $145,815,000 after acquiring an additional 38,705 shares in the last quarter. Vanguard Group Inc. raised its position in shares of ProAssurance by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 6,140,790 shares of the insurance provider’s stock worth $119,806,000 after acquiring an additional 74,033 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of ProAssurance by 2.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,019,414 shares of the insurance provider’s stock worth $71,349,000 after acquiring an additional 60,057 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of ProAssurance by 12.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,395,403 shares of the insurance provider’s stock worth $44,266,000 after acquiring an additional 266,578 shares in the last quarter. Finally, State Street Corp grew its stake in ProAssurance by 0.3% during the 3rd quarter. State Street Corp now owns 1,945,679 shares of the insurance provider’s stock worth $38,058,000 after buying an additional 6,345 shares during the last quarter. 85.58% of the stock is owned by institutional investors.

ProAssurance Stock Performance

PRA opened at $12.74 on Thursday. ProAssurance Co. has a 12-month low of $11.76 and a 12-month high of $19.38. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $649.36 million, a PE ratio of -17.22 and a beta of 0.23. The firm has a 50 day moving average of $12.90 and a two-hundred day moving average of $14.56.

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

Analyst Ratings Changes

Several research analysts recently weighed in on the company. TheStreet downgraded ProAssurance from a “c-” rating to a “d+” rating in a research note on Wednesday, December 6th. Piper Sandler dropped their target price on ProAssurance from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Monday, March 4th. JMP Securities dropped their target price on ProAssurance from $24.00 to $22.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 29th. Finally, Truist Financial dropped their target price on ProAssurance from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, ProAssurance presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Check Out Our Latest Stock Report on ProAssurance

About ProAssurance

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for ProAssurance (NYSE:PRA)

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