ProAssurance Co. (NYSE:PRA) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of ProAssurance Co. (NYSE:PRA) by 30.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,255 shares of the insurance provider’s stock after purchasing an additional 3,800 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ProAssurance were worth $224,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Assenagon Asset Management S.A. purchased a new stake in ProAssurance during the 4th quarter valued at about $2,383,000. Brandywine Global Investment Management LLC acquired a new stake in shares of ProAssurance in the third quarter valued at approximately $2,988,000. Jacobs Levy Equity Management Inc. boosted its stake in ProAssurance by 25.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 548,525 shares of the insurance provider’s stock worth $10,362,000 after buying an additional 110,562 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new stake in ProAssurance in the 3rd quarter valued at $583,000. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of ProAssurance in the 4th quarter worth $352,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

ProAssurance Stock Down 0.1 %

ProAssurance stock opened at $13.82 on Tuesday. The firm has a market capitalization of $704.41 million, a P/E ratio of -18.68 and a beta of 0.21. The stock’s fifty day simple moving average is $12.85 and its 200-day simple moving average is $13.53. ProAssurance Co. has a twelve month low of $11.76 and a twelve 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.

ProAssurance (NYSE:PRA) 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 net margin of 3.39% and a negative return on equity of 0.53%. The company had revenue of $296.96 million during the quarter, compared to analyst estimates of $252.74 million. During the same period in the prior year, the business earned $0.06 EPS. ProAssurance’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities analysts expect that ProAssurance Co. will post 0.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Piper Sandler lowered 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. JMP Securities restated a “market outperform” rating and set a $22.00 price target on shares of ProAssurance in a report on Monday, April 15th. Finally, Truist Financial decreased their price objective on ProAssurance from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, February 29th. Two equities research 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 currently has a consensus rating of “Moderate Buy” and a consensus target price 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.